BNB hits $854 ATH as open interest and institutional bets rises

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BNB, the native token powering the Binance ecosystem, has reached a new milestone amid renewed market interest and institutional activity.

On July 28, the digital asset briefly hit a record price of $854 before easing to approximately $847.5 at the time of writing.

This latest surge marks a 7% daily increase and caps a month-long rally of nearly 32%, propelling BNB’s market capitalization above $115 billion. The Binance-linked token’s market cap has now flipped that of Nike, the world’s biggest footwear company.

The strong momentum appears to align with bullish forecasts from analysts, including Standard Chartered, which earlier projected that BNB could rise above $1000 this year, driven by its growing utility across Binance’s trading, staking, and launch platforms.

Additionally, the token’s growth in derivatives activity adds to the token’s bullish sentiment in the market.

According to data from CoinGlass, BNB’s open interest, the total value of active futures contracts, has reached an all-time high of $1.7 billion.

This surpasses its prior December 2024 peak, signaling heightened trader engagement and growing confidence in the token’s long-term prospects.

Over $1 billion planned for BNB’s institutional acquisitions

Meanwhile, BNB’s rally is drawing more than just retail enthusiasm as several institutional investors are increasingly positioning themselves for long-term exposure.

On July 28, CEA Industries Inc. (Nasdaq: VAPE) announced plans to launch the world’s largest publicly listed BNB treasury strategy.

CEA aims to become the first regulated, US-listed treasury firm focused on BNB. It is backed by 10X Capital and YZi Labs.

The firm has a $500 million private placement, including $100 million in crypto allocations. If warrants are exercised, the total deal could reach $1.25 billion.

According to the press statement, more than 140 institutions have already participated in the deal, including Pantera Capital, GSR, dao5, and Arrington Capital.

Russell Read, the CIO of CEA, said:

“By creating a treasury vehicle, we’re allowing institutions to participate in that growth story in a way that aligns with their need for transparency and long-term value, rather than short-term trading opportunities.”

Adding to the wave of institutional interest is Liminatus Pharma, a US-based biotech firm.

The company has unveiled plans to launch a dedicated investment arm, “American BNB Strategy,” which will deploy up to $500 million into BNB over time.

According to the firm, the initiative emerged from an internal review of blockchain-integrated financial models and reflects confidence in BNB’s infrastructure, security, and growth trajectory.

Chris Kim, CEO of Liminatus, said:

“This is not a short-term speculative initiative, but rather a value-driven strategy based on the long-term growth potential and strength of the BNB ecosystem.”