Upcoming BNB Token Burning Pushes Binance Coin (BNB) To All-Time High of $546, 13x Gains In 2021

By Bhushan Akolkar
April 12, 2021 Updated April 12, 2021
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It’s a massive price rally in Binance Coin (BNB) and raining returns for all the BNB token holders and investors. At press time, the Binance Coin (BNB) price has surged 17% hitting its all-time high of $546. With today’s surge, BNB has gained more than 13 year-to-date which is a massive 1200% return.

The recent price rally for Binance Coin comes as Binance is heading ahead for its 15the BNB token burning in a few days from now. The announcement was made by Binance CEO Changpeng Zhao (CZ) a few hours back. CZ tweeted:

“When you burn coins, they are taken out of circulation forever. It increases the value of the remaining coins. #BNB in a few days! Not financial advice!”

Over the last week, the BNB price has gained a massive 57% from under $350 to all the way up to $550 now. The Binance ecosystem and the Binance Smart Chain is smashing new records every passing day. Besides, it has been closing the gap with its rival – Ethereum (ETH) – since the begging of the year and is only one-third the size of Ethereum.

Last week, BSC attained a major milestone clocking 5 million daily transactions, 4x that of Ethereum. The low gas fee on BSC and less network clutter have pushed several projects to push their base from Ethereum to BSC. Also, the total value locked on Binance Smart Chain has also moved past $30 billion.

BSC-Based DeFi Project Pushes for Coinbase Acceptance

As BNB is making solid gains recently, BSC-based DeFi projects like PancakeSwap are also registering strong growth. Over the last week, PankcakeSwap ($CAKE) has also surged 57% just like BNB, and is currently trading at an all-time high of $25.15. This comes as PancakeSwap is heading for its Initial arm Offering 2.0 later today.

With the latest BNB price rally, PancakeSwap has asked a very important question whether if crypto exchange Coinbase will accept BSC to its platform if at all Binance Coin (BNB) flips Ethereum (ETH).

Responding to CAKE tweet, CZ wrote: “Exchanges not listing #BSC projects only limits their own business. More CEX users to @Binance. It’s better for themselves to list #BSC projects. (Not specific to any exchange)”.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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