Justin Sun Shows Extreme Affection Towards Binance Coin's BNB Spike Hailing It As A New Bitcoin

BNB Sees 141% Jump In Price After Launch Of Binance DEX, Leading Justin Sun To Proclaim It “A New Bitcoin”

Binance has earned a place as the largest cryptocurrency exchange in the world right now, and the launch of its Binance Coin has secured a place as one of the top 10 cryptocurrencies by market cap. Upon registering, it already reached the #8 spot, and even Forbes took note of the performance that the BNB has seen, which CEO Changpeng Zhao of Binance quickly shared on Twitter.

https://twitter.com/cz_binance/status/1102868538383974400

As a result of jumping in price by 141% in that time, the CEO and founder of Tron, Justin Sun, immediately put the token at the same level at Bitcoin.

https://twitter.com/justinsuntron/status/1103017067475693568

Binance’s major popularity in the market has been recognized by many, including Mati Greenspan of eToro. Speaking on the industry dominance of the exchange, Greenspan pointed out that BNB has been predominantly purchased as a way for investors to speculate on the market. With such a big share of the volumes traded, Greenspan adds that their information at least shows that people are willing to trade the token and pursue more growth in the market.

Much of the credit for the rise is being attributed to Binance DEX, the new decentralized exchange, which has BNB as a base pair. Public testing is now an option, and the entire exchange runs on a custom blockchain by Binance called Binance Chain.

Zhao has continually stated that BNB has more use cases than any other asset on the crypto market, and he’s aggressively pushed for mainstream adoption. It seems that the rest of the industry is responding in a positive way, considering the many platforms that have already announced and provided support over the last few months.

https://twitter.com/binance/status/1059158908705550336

Presently, BNB is valued at $15.54 and has even surpassed Tether by market cap, moving up to the #8 spot. In the last 24 hours alone, it has gained 11.8% and is showing a market cap of $2.19 billion. This follows a rise of 37.7% in the last week and includes $277.21 million in trading volume.

Today's Top Coin Market Price Prediction: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC)

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Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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