Binance Coin Up 50% As New Product Offerings Entice Buyers

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Last Updated on 10 February 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Binance, the world’s largest crypto exchange, is experiencing both record trading volumes and new all-time-highs for it’s own cryptocoin, aptly called Binance Coin (BNB). In the past 24 hours, CEO Changpeng Zhao, known as CZ, was already proud to announce that BNB had shot past $100. At the time of writing, BNB is trading at $142.

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2017

When CZ launched the coin back in late 2017, many thought by the beginning of 2017 that it would become one of the many victims of the 2017-2018 ICO bull run which ended when Bitcoin fell from $20,000 to $3,000 in a matter of months. Binance Coin traded near $17 at the beginning of 2018, but fell back to $5.

As Binance became more popular as a platform and CZ expanded both pair offerings on the exchange and people could use BNB to pay for so-called gas fees, it was clear that BNB could one day rival Ether.

During the December 2020 – January 2021 bull run of Bitcoin it surged along and yesterday broke through $100 for the first time. By now, it is the 7th largest crypto on CoinMarketCap’s ranking (a website Binance bought last year), with a market capitalization of some $20 bilion dollars.