The price of BNB, the native token of the BNB Chain, recently surged past $700 for the first time ever, marking a more than 7% increase in a single day amidst a broader rally in the cryptocurrency market. A well-known crypto analyst has suggested that BNB could reach over $1,000.
As of now, BNB is trading around $697, experiencing a slight correction from its new all-time high above $712. Sheldon The Sniper, a popular cryptocurrency analyst, has described BNB's price chart as "extremely bullish" and has identified $1,000 as its next target.
Ted Zhang, an associate portfolio manager at Revere Asset Management, also expressed optimism about BNB's chart on social media, highlighting the strong setup and indicating that such opportunities are highly favorable. BNB's upward momentum coincides with the announcement from Binance, the leading cryptocurrency exchange, about its "largest ever rewards pool" in the Binance World Championship, where users will participate in skills-based tournaments.
June 2024, Cryptoniteuae