BNB, the native coin of the Binance exchange ecosystem, is emerging as a shining star in the cryptocurrency universe.

BNB has surged over 11% in the past 24 hours, catapulting past $700 and setting a new all-time high (ATH) record at $716. The previous peak for BNB, the native coin of the BNB Chain ecosystem, was $690 in May 2021.

In terms of trading volume, approximately $3.3 billion worth of BNB has changed hands in the last 24 hours, with the coin currently holding a market capitalization of $107.2 billion.

Commenting on this milestone, expert "Sheldon The Sniper" expressed confidence in BNB, considering it one of the dominant altcoins in the market. He forecasts that if the current trend continues, BNB could aim for the $1,000 price target next.

Analyst Kaleo also offered insights:

"While everyone is focused on BTC, ETH, and SOL, BNB is quietly entering a new price phase. Remember that BNB was a leader in the previous bull market. History doesn't always repeat itself, but it often rhymes."

Traditionally, BNB's upward momentum is bolstered by Binance Launchpool and Launchpad initiatives. These platforms encourage users to hold and stake BNB to farm new coins before their listing on Binance. The frequent launchpad and listing events have significantly contributed to the world's largest crypto exchange not only retaining users but also boosting its native coin.

However, BNB's recent ATH has come unexpectedly without any new launchpad or launchpool announcements. The most recent development was the Notcoin Launchpool, a game enticing users with Tap-to-Earn mechanics directly within the Telegram messaging app.

The surge in BNB, the mother coin, has set the entire BNB Chain ecosystem buzzing.

At the same time, Bitcoin has risen nearly 3% over the past 24 hours, trading around $71,225, bolstered by a substantial $887 million inflow into Spot ETFs yesterday. This positive news has also painted most altcoins green across the market.