BNB Skyrockets to Make a New All-Time High (ATH) in Light of Latest Binance News
No other coin is moving like Binance Coin! The hottest and greenest cryptocurrency continues to be the native coin of crypto exchange Binance, Binance Coin (BNB).
At the time of writing, BNB has been trading at $25.11 with 24-hours gains of nearly 8 percent. In the BTC and ETH market, BNB is up by about 7 percent each as per Coinmarketcap data.
This $25 per BNB is the new peak for Binance Coin as it surges past its previous ATH at $24.46 from January 12, 2018. But its is showing no signs of stopping, so it would be interesting to see the point it climbs to.
Stop trying to short $BNB
— The Crypto Dog📈 (@TheCryptoDog) April 20, 2019
Binance Coin Leading the 2019 Rally
It all started after the crypto market saw huge losses in mid December and the total market cap went to $100 billion. Hitting its yearly low at $4.5, BNB constantly moved up and is currently up 455 percent since then.
BNB USD chart, Source: TradingView
Till now in 2019, it is among the top gainers with 320 percent gains and the biggest gainer among the top cryptocurrencies beating Basic Attention token (BAT), EOS, and Litecoin (LTC) that are up 100 to 200 percent.
BNB is the leader of the greens in the year 2019 where top cryptocurrencies are down 70 to 90 percent from their all-time highs. BNB has also become the first one to break the previous high to make a new ATH.
Binance Powering Up BNB
BNB is the native token of the world’s largest cryptocurrency exchange Binance that just recently launched its own blockchain called Binance Chain on mainnet. Moreover, a decentralized exchange (DEX) is also in the pipeline for its more than 10 million users that may launch next week.
“Binance Chain was created to support the issuance and exchange of digital assets. Any project can issue new tokens on Binance Chain, and existing tokens that don’t depend on smart contracts are welcome to migrate to Binance Chain, to natively exchange on Binance DEX and gain the benefits from this low latency and high throughput network,” the Binance team said.
— TheCoinDad (@TheCoinDad) April 19, 2019
Moreover, BNB that currently trades on the Ethereum network will be moved to its own chain. This the exchange believes will inspire other projects to do the same and migrate to BInance Chain.
It’s not just BNB that is ecstatic with greens as the first project that goes live on Binance Chain, Mithril also surged 70 percent within making the announcement.
It can be very well expected that BNB will see more gains as Binance CEO says, it’s all about “Consistently building, day in and day out, bear or bull.”