BNB Surges Past $100 Billion as Demand Tied to Binance Operations Continues

BNB's market cap has surpassed $100 billion after rising 12% in the past month. This growth is driven by demand tied to Binance's operations, with the exchange reporting a two-year high of 693,000 BTC held in reserves on September 11.

The token's price has spiked 3.9% in the last 24 hours and 7.4% this week but trails behind Bitcoin and Ethereum in daily gains. BNB's relatively small short-selling exposure explains its smaller price surge compared to other major coins.

While some analysts predict a target of $1,500 for BNB, breaking through the current resistance level at $800 would be a crucial step towards higher prices.