Binance exchange cryptocurrency [BNB][1] reached a new all-time high (ATH) on 29 July. No, it hasn’t surpassed its 2021 levels against the Tether [USDT], [2]but as of 29 July, BNB crossed to an ATH against Bitcoin [BTC][3].
The most surprising thing about this milestone might be how it has happened in the current market. Before the latest achievement, the highest BNB had reached against BTC was $0.0122. However, the BNB/BTC pair hit $0.0124 to set a new high record.
BNB/BTC chart
Source: TradingView
Still far off
Despite the BNB/BTC uptick, the BNB/USDT pair failed to make a significant increase to complement the pinnacle attained. Although it remained in the green, BNB was still off its USDT pairing ATH by 56.92% as per CryptoQuant[4].
At press time, BNB was trading at $291.12, gaining 3.73% in the last 24 hours. However, the recent BNB price performance has not been bad. Over the past few days, it had surged[5] in price and reached a new monthly high of $298.06 (29 July), according to CoinMarketCap.[6]
Additionally, its weekly increase was 8.81% at the time of this writing, indicating that investors must have made some profits. However, BNB still seems far from flipping Bitcoin, Ethereum [EHT][7], and USDT in market cap even with the ATH. So, how else has BNB been able to pull off reaching this peak.
The CZ “building” effect maybe
Binance CEO Changpeng Zhao (CZ), known for his stance on building in a bear or bull market, reacted to the landmark attained. Responding to tweets about how he felt, CZ noted that he hardly[8] had the time to monitor the charts. In addition, he reiterated that he mostly talks
