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BNB Hits $1,100 ATH, Pushing Crypto Market Cap to Peak Levels

BNB has skyrocketed 6.5% on the day to hit an all-time high of $1,112 in the course of the Friday morning Asian buying and selling session. The Binance-associated token has made nearly 30% over the previous month and is the top-performing crypto asset within the prime 50 on the time of writing. The large transfer has pushed BNB market capitalization to $152 billion, which is now bigger than Santander, Adobe, and Spotify.

Meanwhile, the Binance DEX token ASTER has additionally surged, pumping 13% to $1.90 on Friday morning. The token, which launched in September for Binance’s Hyperliquid competitor, is now 22.5% away from its all-time high.

Total Cap Returns to August Peaks

It has been a busy week for Binance around the globe. Earlier this week, firm CEO Richard Teng announced the launch of the Binance Mastercard in Brazil. Also this week, former CEO Changpeng Zhao met with  Kazakhstan President Kassym-Jomart Tokayev to focus on the nation’s crypto ambitions and BNB reserves.

The huge BNB transfer has pushed whole market capitalization to $4.23 trillion, which is simply shy of its mid-August all-time high when Bitcoin peaked. This time, altcoins are within the driving seat as BTC stays down 3.2% from its ATH, having tapped $121,000 in late Thursday buying and selling earlier than retreating to $120,000 on Friday morning.

Analyst Ted Pillows noticed that the entire altcoin market cap excluding stablecoins has but to hit a brand new all-time high.

“I’m sure that altseason will occur, however not till altcoin market cap hits a brand new ATH,” he mentioned.

The altcoin market cap, excluding BTC and ETH, hit $1.16 trillion on Thursday, simply shy of its September 18 peak, in accordance to Tradingview.

The Blockchain Center altseason index is presently at 71, which is slightly below the 75 wanted to be formally an altcoin season. CoinMarketCap’s index can be slightly below at 67, whereas Bitget’s is even decrease at 62.

Today’s Other Top Performers

Ether costs tapped a two-week high of $4,550 on Friday morning however hit resistance there and slid again to $4,480 on the time of writing. The asset has added 16% since its correction to $3,850 in late September.

Solana jumped by 2.7% on the day to attain $235 earlier than a slight pullback. Bitcoin Cash elevated by an identical quantity, and Story and Aptos had been doing properly. However, the large movers at this time had been the 2 Binance-linked tokens.

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