Binance Coin (BNB) soared to an unprecedented all-time high of $855 on July 28, 2025, marking a 12% weekly surge that elevated its market capitalization beyond $115 billion. The rally stems from accelerating institutional adoption, with Windtree Therapeutics confirming a $520 million BNB treasury allocation and Nano Labs exploring similar exposure, signaling a strategic shift toward the token's long-term viability.
Fundamental drivers include robust growth within the BNB Chain ecosystem—characterized by high TVL, frequent token burns, and expanding developer activity—reinforcing BNB's evolution from an exchange token to a core infrastructure asset. Technically, BNB confirmed a bullish "cup and handle" breakout, with futures open interest spiking to $1.6 billion. However, overbought conditions emerged as the Relative Strength Index (RSI) exceeded 85, contributing to $180 million in liquidations over 24 hours, predominantly from short sellers.
Binance founder Changpeng "CZ" Zhao's estimated 89 million BNB holdings (64% of circulating supply) now value his stake at approximately $75.8 billion. Analysts project mid-term targets of $880-$1,100, though short-term consolidation is anticipated amid heightened volatility.