- BNB sets new ATH at $882, setting new ATH in under a few hours.
- It smashed past its previous ATH of $855 set under a month ago.
- Analysts and traders remain bullish on BNB and expect higher highs soon.
Altcoins continue to outperform the pioneer crypto asset Bitcoin (BTC), as BTC price continues to trade in the lower $113,000 price range. Most recently, BNB set new ATH at $882, just three hours ago, smashing the previous ATH record of $855, set under a month ago. The fact that Binance Coin (BNB) has set two new ATH prices not even a month apart bodes well for altseason arrival expectations.
BNB Set News ATH at $882
According to CoinMarketCap data, Binance Coin (BNB), went on to set a new ATH three hours ago at $882. Currently, the price of BNB is trading at the $863 price range, showing that the popular altcoin is still trading over a surge of 3.4% in under 24-hours. The asset also boasts a total market cap of $120,317,340,025.13 and a 24-hour trading volume of $3,692,535,137.25.
As we can see from the post above, BNB is shooting past new ATH prices. On July 28, 20205, not even a month ago, the price of BNB had set its previous ATH of $855, and went on to indicate several bullish indicators, hinting at higher ATH prices being hit soon. More so, these indicators did not just highlight bullish signals for Binance Coin (BNB), but also for the entire crypto market. For instance, many bull signs flared from different internal and external signals.
To highlight, these signals came from factors such as Trump’s trade deal, increasingly bullish whale movements, increased whale and institutional moves, the rising M2 Money Supply, and the expectation for a Federal rate cut, to name a few. Still other moves like bullish announcements from the US government and its pro-crypto regulatory announcements and otherwise, also added to the bullish momentum.
More importantly, BNB, along with several other altcoins are setting a bullish pace for altcoins to surge this bull cycle. Thus, many altcoins are surging towards their previous ATH prices such as Ethereum (ETH), Cardano (ADA), Ripple (XRP), and several others. Soon, all promising altcoins will reclaim their previous ATH prices and enter the price discovery phase to hit new ATH prices, just like BNB is doing now.
Traders Bullish on BNB
As the post above depicts, a reputed crypto trader and analyst goes on to state that he is still very bullish on BNB and explains why. In detail, he states that in July, Binance achieved $698 billion in spot volume, a 61% increase from the previous month, and now holds nearly 40% of the entire CEX market. That’s over 4.5x the next exchange. A huge scale-up like this means deeper books, better fills, and less slippage. He concludes by saying that there is no question where the big money is trading, meaning higher ATHs ahead.
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