TL;DR

The native token of the Binance and BNB Chain ecosystems continues to break records, with another new all-time high set today at just over $1,300. The asset has almost doubled since the April low when it tumbled toward $500 during the all-out trade war between the US and the rest of the world. Moreover, recent data suggested that BNB had added nearly 200% of value since the 2024 lows, as analysts are adamant that a surge within a four-digit price territory is just a matter of time.

Ali Martinez joined the growing number of this group, indicating that BNB is in the middle of a bullish breakout and set a target at $1,300.

$BNB in the middle of a bullish breakout! Target sits at $1,300. pic.twitter.com/C7WSAxHt8U

Given its current price tag of just over $940, BNBs total market cap has shot to $131 billion, which makes it the sixth-largest digital asset and the fifth-biggest non-stablecoin. SOLs just inches ahead, as its own market cap stands at $131.3 billion as of press time (CoinGecko data).

If BNB is to materialize Martinezs projection and notch a 40% surge to $1,300 per coin, then its market cap will grow to roughly $180 billion, which will threaten XRPs position as the third-largest cryptocurrency.

However, its worth noting that BNB has a burning mechanism, which removes tokens from circulation. The ultimate goal is to reduce the number of available coins to 100 million, which should, in theory, increase the assets value but could impact the market cap as well.

The last burn took place in early July this year, reducing the supply by nearly 1.6 million BNB. The next one should be completed within the next month or so.