BNB Rising 20% To Record High Near $800: More Growth?

BNB, Binance's native cryptocurrency, reached an all-time high of $774 late Tuesday, entering a new price discovery period.

This milestone shows a changing cryptocurrency market, where Bitcoin (BTC) has lost focus to altcoins like BNB and XRP, which have had spectacular price increases in the previous 48 hours.

BNB Price's 235% Year-to-Date Gain

BNB rose over 25% in two weeks after consolidating between $430 and $600 from September to early November.

Market capital rotation is driving investor interest in cryptocurrencies like Binance Coin. The token's breach over $658 barrier indicates higher purchasing demand and market confidence.

After falling below $203 earlier in 2023, BNB has gained 235% year-to-date.

Binance's collapse was mostly due to regulatory issues, including money laundering allegations against the business and its previous CEO, Changpeng Zhao (CZ), who resigned.

Although exchange trading volumes plummeted, confidence has returned, especially with expected regulatory reforms under the incoming Trump administration in 2025.

Additionally, US Securities and Exchange Commission (SEC) chief Gary Gensler announced his retirement on January 20, coinciding with Donald Trump's inauguration.

This might lead to further capital input into Binance Coin and other investment vehicles like the growing crypto exchange-traded fund (ETF) market driven by Bitcoin and Ethereum.

Watch These Levels As Binance Coin Approaches BNB's market valuation has increased alongside its price, hitting $93 billion before the current 17% price spike, bringing it to over $112 billion.

Following this price activity, CoinGecko data shows that trade volume surged 14% in 24 hours to little over $5 billion.

These trends have helped BNB rise toward $800. The token's future depends on investor behavior, notably profit-taking, and support level maintenance.

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