No products in the cart.
Binance Coin Surpasses 1 Billion Trading Volume After BNB Network Upgrade
There is strength in numbers and Binance Coin (BNB) has proven that time and again with its robust community of Bitcoin enthusiasts whose faith in the coin has always been its strong fortress.
BNB surpasses 1 billion in terms of trading volume following network upgrade
BNB price is up by 2.04%
Binance launches Binance Account Bond (BAB) for KYC verification
Recently, Binance rolled out the Binance Account Bond (BAB) token, it’s a token used to identify users of BNB that have successfully finalized KYC verification. The launch of BAB was announced via a tweet.
This latest update will allow users to present this as identity authentication and also for creating different projects and earning rewards on the platform.
Following the BAB announcement, BNB price has spiked by 6% in just over 24 hours making it one of the top cryptocurrencies according to market cap.
Binance Coin Upgrade Boosts Trading Volume
According to CoinMarketCap, the Binance Coin’s price has skyrocketed by 2.04%, trading at $295.28 as of press time.
Additionally, trading volumes have also surged over 1 billion in sync with the latest upgrades. The Market Value Realized Value (MVRV) Ratio also increased accordingly and will continue to spike in the coming days.
Further, Changpeng Zhao, CEO of Binance, clarified in a tweet that the “BAB token holds no data or utility other than to signify that the wallet holder has passed KYC checks through Binance.” This may be the case for now.
Binance Rolls Out New zkBNB
More so, the Binance platform also rolled out the new and revolutionized zkBNB which has the exact layer-1 security level that BNB Smart Chain has promoting secure building mechanisms.
A couple of BNB on-chain metrics show a bullish standpoint for the token. BNB’s upswing has also been significant, as it trades below $300.
Notably, there was an increase in development activities in the platform seen in the past couple of days which coincided with the latest upgrade on BAB which shows how seriously vested developers are into enhancing the network’s tech capabilities.
BNB, the native token of Binance, has seen unprecedented growth since its inception. The token is used mainly to take advantage of lower or discounted trading fees as well as for joining the Binance Launchpad.
The demand for BNB has been growing exponentially since 2020. And economics-wise or based on the law of supply vs. demand, the demand will always outnumber the supply.
With that being said, BNB might skyrocket and beat its ATH in 2021, especially with the onset of a raging bull market.
BNB’s total market cap at $47.5 billion on the daily chart | Source: TradingView.com
Featured image from Blockchain News, the chart from TradingView.com
- September 2022 (418)
- August 2022 (519)
- July 2022 (418)
- June 2022 (416)
- May 2022 (369)
- April 2022 (367)
- March 2022 (505)
- February 2022 (455)
- January 2022 (435)
- December 2021 (428)
- November 2021 (367)
- October 2021 (359)
- September 2021 (357)
- August 2021 (126)
- July 2021 (21)
- June 2021 (19)
- May 2021 (4)
- April 2021 (6)
- March 2021 (23)
- February 2021 (23)
- January 2021 (27)
- August 2020 (1)
- July 2020 (7)
- June 2020 (1)
- April 2020 (2)
- Shiba Inu Adds Nearly 36,000 Holders Since June Despite Crypto Market Turmoil
- Ethereum Price Broke Out Of Descending Channel, What’s Next?
- Cardano Price Surges, Will The Bulls Hold The Recovery?
- Quant (QNT) Adds 10% In 24 Hours While Macro Uncertainty Pulls Others
- Ripple Outperforming Almost The Whole Market, What’s Pumping XRP Price?