Binance Coin (BNB ($1,111.01)) prices topped $800, marking a new all-time high for the exchange-based asset in early trading on Wednesday in Asia. BNB has been on a tear lately, gaining more than 16% over the past week and almost 30% in the past month.

The latest move has pushed its market capitalization to $111.5 billion, which is about the same size as sports apparel giant Nike.

BNB hits a new ATH ($0.03) of 800$ pic.twitter.com/ejxZR9j8Rr

— Binance (@binance) July 23, 2025

BNB Hits Milestone High

“Appreciations to all the ecosystem players, BTC ($110,735.00) maxis, ETH ($3,926.43) holders, meme traders, ETF applicants, treasury companies, good regulators, and utility builders,” said former Binance CEO Changpeng Zhao in celebration of the milestone.

The big move has added 300% to BNB price since its October 2023 bear market low of $200. The pump has followed news this week that Nasdaq-listed Nano Labs has become the first publicly listed company to create a BNB treasury with 120,000 BNB worth around $90 million at the time in reserves.

The Web3 infrastructure provider purchased an additional 45,685 BNB through over-the-counter (OTC) transactions at an average purchase price of $764 per token on Tuesday.

In June, the Chinese blockchain company announced a $500 million convertible notes deal to fund its BNB purchases with aims to acquire up to 10% of the circulating supply.

There is currently 139 million BNB in circulation out of a total supply of 200 million.

Update from Nano Labs (Nasdaq: $NA)

We’ve significantly increased our $BNB holdings to 120,000 BNB (~$90M), acquired at an avg. cost of $707/token — a major milestone in upgrading our BNB strategic reserve.

We’re building for the future of Web3.

… pic.twitter.com/sDGbFInOat

— Nano Labs (@NanoLabsLtd) July 22, 2025

The move is part of a growing trend of crypto treasury companies that have started off with Bitcoin and Ethereum and are now branching into other altcoins.

Altcoins Are Moving

BNB is one of a number of altcoins that have seen explosive gains over the past couple of weeks as analysts eye altseason. Ethereum and XRP ($2.50) are the other two high-cap tokens that have skyrocketed.

Ether is up 67% over the past month, hitting a seven-month high of $3,800 this week, while the Ripple cross-border payments token surged to an all-time high of $3.65 on July 18.

Solana has performed well with a 24% gain on the week as it topped $200, but it remains down 31% from its January peak.

Dogecoin has pumped 35% in a week, but it is also down 64% from its 2021 all-time high. Meanwhile, Cardano has cranked 50% in a fortnight but is more than 70% down from its peak four years ago.

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