Binance Coin (BNB) Surpasses $710 to Reach New All-Time High

Joshua Ramos
Binance Coin Holds Above $700: Can BNB Hit a New ATH In June?

In what is a rather surprising turn of events for the crypto market, the Binance coin (BNB) has reached a new all-time high. Indeed, the asset has been enjoying a bullish rally that began this week, with the asset up more than 11% over the last seven days and setting a milestone mark of $712, according to CoinMarketCap.

Its newest landmark price has seen the token surpass its previous record of $690 set in 2021. Furthermore, the token has stabilized, with its price currently up more than 8% over the past 24 hours, and trading at $701. Additionally, that time frame has seen BNB’s market cap and trading volume surge over 8% and 50%, respectively.

Also Read: BNB June Forecast: Is $700 On Cards For Binance Coin?

BNB Settle’s Above $700 All-Time High

The digital asset sector has seemingly dominated the news cycle throughout the year. Bitcoin reached an all-time high mark of $73,000 in March and led a host of assets to monumental gains over their prices just a year ago. Additionally, the ETF discussions have only increased the exposure of the asset class to a wider array of traders. Overall, it boosted the market’s sentiment over the last five months.

Those developments have played a part in the Binance coin (BNB) setting a new all-time high of $711 today. Indeed, the asset has been bullish for the last several days, culminating in its highest price point in more than three years. For more than a week, interest in the aset had only increased, with the volatility that ensued leading to new heights for the token.

BNB Chain Surpasses Transaction Record, Reaching New Heights Since Last May
Source: CryptoPotato

Also Read: How to Bridge from BNB to Arbitrum?

That aforementioned price volatility had seen BNB test a critical resistance level at $635. The Relative Strength Index (RSI) displayed growing buying pressure for the Binance coin. Subsequently, the stage was set for a landmark price to come to fruition.

The bullish momentum was enough to carry BNB to its new record milestone. However, the market is now left with the question of what comes next. Overall, the momentum of the asset will be important to observe, as it could set the stage for whether or not BNB can maintain its recent triumph.