BNB coin, the native token of Binance crypto exchange’s BNB Chain, has surged to a new all-time high with it breaking past the key milestone of $1,000 mark today on September 18.
According to CoinMarketCap data, BNB price reached a new all-time high of $1,005.29, representing a 17.45% increase in the past 30 days. Its 24-hour trading volume has surged 27% to $4.3 billion.
The push in BNB price follows Changpeng Zhao (CZ)’s potential comeback to Binance, who left the firm after pleading guilty to federal charges in the U.S. for failing to implement proper anti-money laundering (AML) measures and facing four months in prison.
At the time of publishing, BNB was trading near $997, up 4.38% in the past 24 hours. It has a market cap of $138.78 billion, positioning itself as fifth largest cryptocurrency by market cap.
“Diamond Hand” investor’s fortunate BNB holding
As BNB hit the $1,000 mark, a Diamond Hand investor’s $1,000 investment in BNB has reached nearly $1 million, representing a 1,000x return. Noted by Lookonchain, the wallet address is still holding onto their assets even after a prolonged period of eight years.
Diamond Hand is a popular slang term in crypto for investors who hold onto their assets for a significantly long period despite volatility, market crashes, or pressure to sell.
CZ’s potential return to Binance
The recent spikes in BNB price started showing after CZ hinted towards joining Binance again, as he changed “ex-Binance” from his X bio to “Binance” on September 17. This sparked rumors within the crypto community about his potential return to Binance with an active senior role.
Noting the pump, a popular crypto analyst, EmperorBTC, noted on X that BNB was initially given free to users on the Binance exchange. “BNB is at 1000 dollars today. Years ago you could get it for free by trading on Binance,” he said. “Take it as a lesson. Never bet against a founder who’s ready to go to jail for his company and do infinite crime for your wealth.”
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