$BNB On July 28, BNB experienced a significant jump, reaching a new all-time high (ATH) of $855, marking a 7% increase within 24 hours and raising its market capitalization to over $118.5 billion.

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Continuation of BNB's rise: new all-time high and market position:

A week after surpassing the $800 mark and setting a new all-time high (ATH), BNB surged again at the end of July 28, reaching a peak just above $850.

The digital asset's increase of 7.4% within 24 hours raised its total market capitalization to over $118.5 billion, solidifying BNB's position as the fifth digital asset.

Data shows that BNB reached $855.84 at 3:26 AM Eastern Time, marking a new ATH and more than $40 above its peak of $808 on July 23.

However, unlike last time, the current spikes in BNB do not seem to be the result of capital movement, as other significant digital assets recorded noteworthy gains during the same period.

For example, $XRP , which declined when BNB set a new ATH, increased by nearly 2%, while $ETH continued its upward trend, rising by 3.9%.

The price dynamics of ETH, like #BNB , seems detached from the rest of the crypto market, as the digital asset continues to gain new increases. At the time of writing, ETH was trading just above $3,934, and the second asset looked poised to break the $4,000 mark for the first time since December 8, 2024.

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Investor enthusiasm and institutional shift for BNB:

Meanwhile, the recent increase in BNB, which led to its gain of over 30% in 30 days, has generated enthusiasm among supporters of the digital asset, some of whom predict it will surpass the $1,000 mark in August.

One social media user said that the range $840–$880 could serve as resistance.

In a report published on July 23, shortly after BNB soared to $808, the team #BinanceResearch attributed the rise of the digital asset to what they described as its transition from a retail asset to an institutional-grade reserve. The report also indicated that BNB stands out among other major assets over a five-year period with a higher Sharpe ratio and lower maximum drawdown. The report added:

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"Its five-year Sharpe ratio reached 2.5, indicating that for every dollar of risk, the return was $2.5. This underscores BNB's potential for significant profit alongside a relatively stable risk profile."

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The report also noted that the BNB rally is sustainable, as it is driven by the influx of new long-term capital into the spot market, rather than speculative, leveraged trading.

Unlike previous spikes, open interest in BNB futures did not proportionally increase, indicating genuine conviction among investors.