BNB Sets New ATH at $711 This Cycle After 10% Spike in Under 24 Hours, More ATHs Expected as Altseason Arrives

• $BNB sets a new $ATH at $711 according to CoinMarketCap analytics.
• The altcoin went up by 10% in under 24 hours and analysts expect $BNB to go higher.
• Many speculate that this sign is the trigger for the long-awaited altseason.

Binance’s native token $BNB finally sets a new all-time high ($ATH) for this ongoing bull cycle. Beating out its previously set $ATH, the new $ATH price for $BNB is now set at $711.56 according to CoinMarketCap analytics.

This sudden surge came about after a significant gain of over 10% from Sunday’s low price of $597. Presently, $BNB is at $701, over 10% increase in the last 24 hours. The assets market cap is at $103,129,442,882 while its 24 hour trading volume is at $4,056,511,470 which is up by almost 40%.

The reason behind $BNB’s sudden spike and new $ATH is likely due to the strong activity from within Binance Launchpad and Launchpool platforms. In order to use these services, users must purchase and stake $BNB to earn a share of newly issued tokens.

More significantly, the last launch on Binance Launchpad and Launchpool was the Telegram-based gaming token Notcoin (NOT). This was a very popular coin of which the price keeps rising exponentially, perhaps adding onto $BNB’s growth as well.

Meanwhile, Bernd Sischka, Chief of Commercial Officer at PowerTrade says 11,250 options were traded, adding to $BNB’s popularity and growth. More so, he says traders can expect even more volatility towards 2024 price high.

As for the possible growth activity of other altcoins like $BNB, Wu Blockchain says altcoins have seen a general rise. He points out $BNB’s rise over the last 24 hours and commends how its market value has returned to over $100 billion, a high not seen since December 2021.

He also highlights $TON which has gone up by over 8% and has taken over one of the top 10 spots for the largest cryptocurrencies by market value. Would this new $BNB $ATH and new top 10 crypto ranking be the long-awaited start to altseason?