BNB Price Surges Past $1,100 Amid Ecosystem Growth and Token Burns

BNB, the native token of the BNB Chain —a layer-1 blockchain created by crypto exchange Binance — has reached a new all-time high amid plans for upgrades and a broader market rally.

The token reached $1,111.90 for the first time on Friday, after rising more than 7.4% in the last 24 hours and surging 17.5% for the week, according to data aggregator CoinGecko.

It also comes as more treasury companies have been stacking BNB. Soon after the coin’s all-time high in July, analysts told Cointelegraph that treasury buying, along with regular token burns,…