Binance Coin ( BNB ) has risen to a record high above $707, and active trading volumes suggest the trend may continue. BNB is up from recent flat performance at around $580. BNB is now entering the price discovery zone, anticipating a journey to four-digit prices. TRON J> Binance and its ecosystem remain important in 2024 as the bull market revives DeFi and other use cases. As an underlying asset for trading pairs and liquidity pools, BNB has reflected new money flows and increased its value. Open interest in BNB has risen in the last 24 hours and has doubled since June 3. The importance of Binance as a centralized exchange and BSC as a decentralized platform means that BNB could signal a 2024 bull market extension. BNB has been the leader in past market rallies, outperforming other altcoins. The expansion in BNB prices has raised hopes of reaching four-digit prices as it enters the price discovery phase. BNB rose just one day after CEO Changpeng “CZ” Zhao effectively began his four-month prison sentence.