BNB Soars 20% in a Week, Extending Record-High Rally

TradingKey - BNB surged toward the $1,300 mark, significantly outpacing Bitcoin's gains over the same period.

On Tuesday, October 7, Binance Coin (BNB) continued its upward trajectory, approaching the $1,300 threshold. At press time, the price had experienced a minor pullback to $1,225.65.

BNB Price Chart, Source: TradingView.

The rally gained momentum after BNB Chain announced a reduction in the BSC network Gas fee to 0.05 Gwei on October 1. This update slashes the cost of a single transaction on the network to approximately $0.005, significantly enhancing the competitiveness of the BNB Chain ecosystem.

Following the announcement, BNB's price rose nearly 2% on the same day. The token has since continued to climb, setting new record highs and accumulating gains of over 20% in the past seven days—far exceeding Bitcoin's performance during the same period.

7-Day Performance Chart: BNB vs. BTC, Source: CoinMarketCap.