Binance's BNB Token Hits All-Time High as Bitcoin and Ethereum Alts Swell
Binance's native token (BNB) reached a record high of over $788, an 8% increase surpassing its previous all-time high of $710. The surge coincided with a broader crypto market uplift, benefiting altcoins like Ethereum Classic (ETC) and Bitcoin SV (BSV), which rose 21% to $38.37 and 20% to $82.80, respectively. Bitcoin Cash (BCH) also increased by 12% to $583. These tokens originated from Bitcoin and Ethereum hard forks due to ideological divides over scalability, transaction costs, and governance. Ryan McMillin from Merkle Tree Capital noted that the rally resembles meme coin price action, attracting retail investors due to their presence on major exchanges. However, he cautioned that seasoned investors may not pursue this rally, predicting a return to historical price averages as speculative interest wanes.
