A native token of the largest cryptocurrency exchange, Binance is touching the peak at every step. At press time, BNB overtook Stellar again and risen up with 16.35 percent over the past 24hours.
On the Rise – Surged More than 16 Percent
Binance backed BNB token is on the bull run today on March 05, 2019, counting the average trading volume $1,854,907,611. The gain of 16.35 percent turned BNB as the best performer token on the graph of Coinmarketcap while the 7th largest cryptocurrency, Tether (USDT) is declining a brief of 0.09 percent over the past 24hours.
To note, the present trading value of BNB token is $13.14 against the US Dollar. It’s worth to note that BNB token seems the most specific currency that runs with a green figure while other cryptocurrencies were roaming around red figures.
The reason behind the surging value isn’t specifically determined – however, the peak value comes in a row of ongoing bounty campaign of Binance’s DEX. To remind, the bounty campaign encouraging users to find a bug in Binance DEX and win the reward of $100,000 USD in BNB.
#Binance DEX (@Binance_DEX) Simulated Trading Competition – Test Your Strategies to Win 10,000 $BNB!https://t.co/ENsiNiqc9L pic.twitter.com/UXD2p1ZjoX
— Binance (@binance) March 1, 2019
Thus many enthusiasts think that the launch of Binance’s DEX test net has quickly pumped the price of BNB token.
Additionally, in a recent Twitter AMA, CZ talks about the procedure Binance exchange is following while delisting any project, Significance of Binance Chain and use cases of BNB token. During the talk, CZ says that he believes the Binance platform has a huge active user database – moreover, the use cases of BNB are more than other coins available in the market. As per the CEO, Binance seeks to expand the BNB ecosystem – and eventually began adding BNB token as a native token on its new Binance Chain.
CZ conclusively revealed that the OCO (One-Cancels-the-Other) option which is used to place a conditional stop limit, will be implemented in March-April timeframe this year.
What’s your view on BNB price reaching the peak? share your thoughts.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com
