Binance Coin Surpasses Nike & DoorDash in Market Cap
Binance Coin (BNB) has surged past major retailers Nike and DoorDash in market capitalization, currently trading at $795 after a 15% monthly gain. The token flirted with an $844 all-time high, bolstered by significant treasury investments, including Nano Labs’ $500 million convertible note deal and BNC’s recent $160 million bid. On-chain activity across the BNB Chain, from leading NFT collections to DeFi platforms like PancakeSwap, has also intensified, lifting CAKE prices by over 10% this month. Positive investor sentiment on social media and bullish technical patterns akin to Bitcoin signal potential for further upside. Traders should watch for continued institutional backing and ecosystem growth as key drivers of Binance Coin’s long-term trajectory.
Bullish
Binance Coin’s breakthrough past major retail giants underscores strong demand and confidence in its ecosystem. Historical parallels, such as the early 2021 rally when BNB’s market cap soared on similar institutional backing and network growth, suggest further near-term upside. Significant treasury deals and heightened on-chain activity—especially in NFTs and DeFi via PancakeSwap—have created bullish momentum. Positive social sentiment and Bitcoin-like technical patterns reinforce this outlook. In the short term, traders can expect continued volatility with an upward bias as investors chase gains. Over the long term, ongoing ecosystem development and institutional involvement should sustain BNB’s valuation, despite broader market correction risks. Overall, the news projects a bullish trajectory for BNB and the wider crypto market.