After weeks of waiting and a slow upward trend, Binance’s native token BNB has hit a new all-time high.

The altcoin broke through its all-time high of $686 which had held for more than three years. The new ATH is $716, to which BNB price rose during the intraday rally.

The new high is the result of a 15% rally over the past five days, during which BNB’s price broke through the key resistance level of $618, which had been holding back the cryptocurrency’s gains. BNB’s market cap now exceeds $100 billion, surpassing companies such as UBS, Dell, and Starbucks.

However, the timing of the all-time high is interesting as Binance founder and former CEO Zhao Chengpeng, also known as CZ, began serving a four-month prison sentence this Monday. Zhao is being held in a federal prison in California for violating the Bank Secrecy Act (BSA), to which he pleaded guilty in April.

Future Outlook

Analysts believe that BNB’s upward trend is likely to continue, and it is expected to reach the $1,000 level in the near future. This prediction will be particularly strong if Bitcoin remains stable or rises further in the coming period.

As BNB continues to rise driven by the success of Binance Launch Pool and positive market sentiment, investors are eagerly awaiting further milestones in its development.

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