BNB Shatters All-Time High! Will the Surge Continue? Get the Full Details Here
The price of BNB, the native cryptocurrency of the Binance Bitcoin exchange, has skyrocketed to reach an unprecedented peak. Within the past 24 hours, the fourth-largest cryptocurrency by market value has surged by more than 11%, reaching a record-breaking high of $716.
BNB Surpasses $700, Hitting an All-Time High
The native token of the BNB Chain ecosystem, BNB, has exceeded its previous peak of around $690, which was set in May 2021.
In terms of transaction volume, approximately $3.3 billion worth of BNB has changed hands in the last day alone. Currently, BNB’s market capitalization stands at $107.2 billion.
The recent rally of BNB can largely be attributed to the increasing popularity of Binance Launchpool. This platform requires users to hold and stake BNB to participate in new token offerings on Binance, the world’s largest cryptocurrency exchange.
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Last month, Binance Launchpool announced its support for Notcoin, a token that can be earned through a Web3 game on Telegram. Since its launch, Notcoin has achieved a market capitalization of $2.2 billion, with Binance being the first platform to list this token.
Meanwhile, the value of Bitcoin has also experienced a significant increase, rising by 2.89% in the past day to surpass the $71,000 mark. Most other altcoins have shown similar positive movements, contributing to the bullish trend in the market.
It is highly likely that BNB will continue to climb towards the $1000 level, especially if the price of Bitcoin remains stable or continues to rise in the near future.
*This article does not provide investment advice.
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