Binance Coin (BNB) Price Hits Fresh 52-Week High after Leaving Ethereum

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here.

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here.

By CCN.com: Binance Coin (BNB) is reasonably on the radar now for investors seeking bullish momentum.

BNB PRICE, BINANCE COIN PRICE

BINANCE COIN (BNB) PRICE CHART | SOURCE: COINMARKETCAP.COM

The Binance crypto exchange’s native token established a new 52-week high, up 81.49-percent from its 52-week low price of $4.19. The move prompted BNB to come closer to retesting its all-time high price of $24.91, which was accomplished during the January 12 trading session in 2018. But are there more gains in store for this crypto asset? Let’s take a quick look at its near-term market outlook to understand where it might head next.

Mainnet Launch in Focus

Binance on Thursday announced that it would launch Binance Chain, a public blockchain network which will support BNB tokens, on April 23. The exchange will soon integrate its decentralized exchange platform into the Binance Chain. At the same time, Binance will allow projects to issue new tokens on its chain, effectively enabling them to run initial coin offering rounds by raising funds in BNB.

Binance will earn a small fee from each trade on its decentralized exchange. The firm will also charge a listing fee from projects that issue their tokens on Binance Chain. According to CEO Changpeng Zhao, the listing fees could be as high as $100,000 based on the size of the project. Binance decentralized exchange will not hold custody of customers’ tokens. The service will most likely attract traders looking to retain the ownership of their private keys.

Binance confirmed that they would use a limited number of nodes to run the Binance Chain. It means that the custom blockchain will be less decentralized than that of Ethereum. On a positive side, it would be able to process “a couple thousand” transaction every second to ensure a smooth running of the decentralized exchange on it.

More Gains Ahead?

Binance Chain holds promises to attract more BNB adoption following its launch. On the other hand, Binance runs a token buyback event reduces its BNB supply every quarter. The economic outlook presents a bullish scenario for BNB investors in the long-term, boosted further by Binance’s impressive year-to-date performance in the market.

Technically, a close above the all-time high accompanied by significant volume could see the BNB price shooting towards a roofless area.



About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Prove
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022
Crypto Crime
Crypto Crime Surges To Record Highs As Thieves Follow Market Buzz – Chainalysis 2022 Report
February 24, 2022
Bots Circumvent 2FA Login At Coinbase And Other Crypto Exchanges In 2022
Bots Have Circumvented 2FA Logins At Coinbase And Other Crypto Exchanges In 2022
February 17, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Russia
Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin29,772 0.10 % 0.55 % 2.39 %
Ethereum1,962.1 0.16 % 1.02 % 6.35 %
Tether0.9999 0.06 % 0.06 % 0.07 %
BNB328.43 0.13 % 0.02 % 7.14 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
XRP0.4078 0.23 % 0.58 % 7.14 %
Binance USD0.9977 0.21 % 0.36 % 0.38 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Solana48.58 0.08 % 1.99 % 15.39 %
Dogecoin0.08398 0.25 % 0.80 % 7.12 %

bitcoin
Bitcoin (BTC) $ 29,808.00
ethereum
Ethereum (ETH) $ 1,963.91
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 328.21
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.407111
binance-usd
Binance USD (BUSD) $ 0.999632
cardano
Cardano (ADA) $ 0.516339
solana
Solana (SOL) $ 48.52
polkadot
Polkadot (DOT) $ 9.98