Binance Coin (BNB) Hits Record High! Will the Upward Trend Continue? Here’s What You Need to Know
The price of BNB, the native cryptocurrency of the popular Bitcoin exchange Binance, has skyrocketed to an all-time high. With an increase of over 11% in the last 24 hours, BNB now stands at a record-breaking $716, making it the fourth-largest cryptocurrency by market value.
Surpassing the previous peak of around $690 set in May 2021, BNB is on a remarkable upward trajectory. In terms of transaction volume, approximately $3.3 billion worth of BNB changed hands in just one day, further solidifying its position in the market. Currently, BNB’s market cap sits at an impressive $107.2 billion.
The recent surge in BNB’s price can be attributed to the rising popularity of Binance Launchpool. This platform requires users to hold and stake BNB in order to participate in new token offerings on Binance, which is the largest cryptocurrency exchange in the world.
In related news, Binance Launchpool recently 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 cap of $2.2 billion, and Binance proudly became the first platform to list this token.
Meanwhile, Bitcoin has also experienced a significant increase in value, rising by 2.89% in the past day to surpass the $71,000 level. This, along with the positive performance of other altcoins, contributes to the overall bullish trend in the market.
Experts predict that BNB has a high probability of reaching the $1000 mark, especially if Bitcoin remains stable or continues to rise in the near future.
*Please note that this article is not investment advice.
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