BNB Sets New Price High Above $850, Eyes $1000 Target
On July 28, BNB's price surged significantly, reaching a new high of $855 after a 7% daily gain. As a result, its market capitalization surpassed $118.5 billion.
Just a week after breaking the $800 mark and setting a new all-time high, BNB reached another record above $850 at the end of July 2028, solidifying its position as the fifth-largest digital asset by market cap.
Unlike the previous rally to $800, this increase wasn't solely the result of capital rotation, as other digital assets also saw gains. Notably, XRP rose nearly 2%, while Ethereum (ETH) gained 3.9%.
The enthusiasm within the crypto community has fueled hopes that BNB might soon reach the $1000 milestone.
According to a July 23 report by Binance’s research team, BNB’s growth is driven by its transformation from a retail-oriented token into an institutional reserve asset. The report also notes that BNB has outperformed other major assets over a five-year period, with a higher Sharpe ratio and smaller maximum drawdown.
Its five-year Sharpe ratio has reached 2.5, meaning that for every dollar of risk, the return has been $2.5. This highlights BNB’s strong potential for high returns with a relatively stable risk profile.
See also: "Tourists in Rio Will Be Able to Pay with Cryptocurrency Through Bybit and Tether Partnership"
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