BNB reached a new all-time high of $883 on August 20, 2025, marking a significant milestone for the Binance ecosystem token. The altcoin surged 5.45% to $881 during the session, briefly touching $883 before experiencing a slight pullback to $850 at press time. This rally positions BNB to potentially challenge the $900 resistance level and ultimately target the psychologically important $1,000 mark.
The momentum is supported by substantial institutional interest, with over $2 billion flowing into BNB markets during August alone. The realized cap surged from $88 billion to a record $90.4 billion in just three weeks, indicating growing investor confidence. Major players like the BNB Network Company have invested $160 million, contributing to a significant decline in exchange-held supply.
However, the rally faces a potential headwind from Windtree Therapeutics' uncertain $500 million BNB treasury initiative. Nasdaq has issued a notice to delist Windtree's common stock due to non-compliance with listing requirements, creating uncertainty about whether the treasury plan will proceed. As the first company to announce a BNB treasury, this development could dampen short-term demand.
Despite this, market indicators remain bullish. Delta Skew for 1-week and 1-day tenors shows strong demand for short-dated call options, indicating traders are positioning for further upside. Options market activity reveals concentrated bullish bets at $900 and $920 strikes, with put options targeting $820 as a potential rebound level.
BNB's market capitalization now exceeds $120 billion, ranking it as the fifth-largest cryptocurrency globally. The token's growth is further supported by ongoing token burns and ecosystem developments, though historical patterns suggest potential consolidation phases following major rallies.