BNB Crosses $700, Marks New All-Time High

Binance’s native token, BNB, marked a new all-time high after weeks of waiting while observing a slow uptrend.

The altcoin broke the previous all-time high of $686, held for over three years. The new ATH is $716, which the BNB price rose to during the intra-day rise. 

This new high resulted from the 15% increase noted in the last five days, during which BNB’s price broke past the critical resistance of $618, which had been preventing a rally. BNB’s market capitalization is now above $100 billion, making it bigger than companies such as UBS, Dell, and Starbucks.

Read More: Who Is Changpeng Zhao? A Deep Dive Into the Ex-CEO of Binance

The timing of the new all-time high, however, is interesting as the founder and former CEO of Binance, Chengpeng Zhao, also known as CZ, began his four-month prison sentence this Monday. CZ has been incarcerated in a federal prison in California for violating the Bank Secrecy Act (BSA) he pled guilty to in April this year.