Binance’s BNB coin has reclaimed the $700 price level for the first time since June 1, 2026. CoinGecko data shows that BNB’s price has risen by 18.1% in the 14-day charts and nearly 23% in the monthly charts. Let’s discuss why BNB is up today and if the coin can hit the $1000 mark next.
What’s Pushing Binance’s BNB Coin?
BNB price upswing comes amid a larger market-wide rally. The cryptocurrency market experienced one of its most significant rebounds of 2026. The market was struggling for most of this year, but things turned for the better after President Trump’s cryptocurrency event at the White House. Trump gathered several CEOs and industry heavyweights to push his administration’s pro-crypto outlook. Trump also stated that the US plans to buy a large chunk of cryptocurrencies soon. The statement led to a massive surge in investor sentiment. BNB and other cryptocurrencies saw a massive price spike in the days following the White House event.
Also Read: XRP Surges More Than 50% In 7 Days: Time To Buy?
Another factor that may have contributed to BNB’s resurgence is the Treasury’s bond buyback move. The development has likely injected more liquidity to the market and such a scenario has historically been beneficial for the cryptocurrency market.
Will The Rally Sustain?
While BNB’s price surge brought some relief to investors, the larger crypto market is already showing signs of trouble. Nearly $550 million worth of long positions were liquidated earlier today within just 60 minutes. BNB is also slowly making its way below the $700 price level.
The recent market rally hinges on President Trump’s word. If the plans for the US to buy a large amount of cryptocurrencies does not follow through, we may see additional price corrections.
Additionally, the macroeconomic situation is still not ripe for the cryptocurrency market. Inflation figures fell in July 2026 but the number os well above the Federal Reserve’s 2% target. BNB and the larger crypto market may struggle if inflation remains high.
