Recently, BNB has staged a remarkable structural rally. After hitting an all-time high (ATH) in July, it surged past $865.68 on August 14. With public companies adding BNB to their treasuries and ETF applications gaining traction, BNB—once viewed merely as an "exchange token" or "ecosystem asset"—is now evolving into an "institutional reserve asset." This rally isn’t just hype; it reflects a fundamental revaluation of BNB’s role. Below, we dissect its institutional adoption path and outline a...