BNB price has reached a new high: $858! | A pharmaceutical company has announced a $700 million investment in BNB, joining the trend toward corporate treasury

It's quite surprising how the price of BNB, the Binance Smart Chain token, has been rising in recent days, reaching a new all-time high. While it's true that internal platforms have been built to leverage BNB, such as the Binance Launchpool and Binance Launchpad platforms, this price increase is external to these mechanisms.

On Monday, the price of BNB reached a high of $858, with a 7% increase in 24 hours. The price decline, due to corrections, was not drastic, leaving the price at around $851. The apparent reason for this high comes from news that a pharmaceutical company called Windtree Therapeutics will purchase BNB for close to $700 million.

This, in turn, reminds us of the global trend where large corporations seek to acquire cryptocurrencies for treasury purposes, where accumulation over a defined period represents a strategy that could result in large profits in the future.

This trend has spread to several corporations that have decided to participate in the initiative, although we should clarify that it all began when Michael Saylor decided to tap the corporate treasury with Strategy (formerly MicroStrategy), aiming for the aggressive acquisition of Bitcoin. That said, many companies intend to do the same with other cryptocurrencies, which could trigger a kind of competition.

BNB's growth can be gradual, but also voluminous. This is possibly something we have seen since its departure from $600 to the current price, in a short period of time. Standard Chartered has made a prediction on this matter, estimating a price increase towards $2,775 by 2028. After making this estimate, the price rose 43% to the all-time high we witnessed.

At the beginning of the month, the formation of a BNB treasury company was announced, supposedly backed by the family office of Changpen Zhao, former CEO of Binance. As we can see, there are many signs that an awakening is beginning in the way of acquiring and accumulating BNB in large quantities, in immense values.

Much has been said about altcoin season. As usual, Bitcoin is dominating the world due to its new all-time high. However, when its price loses volatility, and therefore its impact on how people estimate new prices is reduced, everything focuses on altcoins. By temporarily reducing BTC's prominence, the path to growth for the major cryptocurrencies is clear.

Ethereum has achieved notable price increases, with this past month seeing a 60% jump, placing ETH at a current value of $3,785 at this very moment. If we look at how much is required to reach the 2021 high, we're talking about only 20%; what happens next will fuel new speculation on all the social media platforms where Ethereum's future is being debated. Some point out that we could see a price of $10,000 per ETH in the coming years, but for that to happen, certain events would need to occur to allow for that momentum (and sustainability).

One of the situations that allows for this is a drop in Bitcoin dominance. This way of measuring dominance is based on the market capitalization of BTC and altcoins, so again, we're talking about a focus on major cryptocurrencies that will compete to generate the highest possible volume over time.