After a disastrous end to 2018, with a bearish onslaught resulting in a free fall from the January market cap to more than $ 800 billion for just under $ 100 billion in December, the early months of this year were well – coming. As the market rose above $ 180 billion for the first time in months, several currencies were enjoying above-average price increases with a notable highlight, Binance Coin.
Currency Binance [BNB]The native token of the world's largest crypto-coin purse has been the company's stand-out, which rose from 14th place in the first week of the year to just two points out of the top-5 at the time of publication. Due to a remarkable 315% increase in recent months, BNB has cemented its position in the market, largely due to the success of its controlling stock market.
A series of announcements emerging from Binance contributed to the currency being the first encrypted currency of mid-large cap to break its all-time high. [ATH] of US $ 24.46 recorded on January 12, 2018. The BNB broke this ceiling at 04:00 UTC on April 20.
Unsurprisingly, the announcement of the Binance Chain network, made earlier this week, boosted the price of the native token, which is currently rising above 16% against the dollar. The public blockchain will be available to customers on April 23, however, the anticipatory bulls have already reached the BNB market.
The inclusion of an ICO-supported system in the Network will also affect a number of entrepreneurs who are unable to list their tokens in exchanges of crypto-coins.
Binance DEX was the culmination of a series of stock market ads that increased the token's rise. A $ 100,000 donation was revealed early in March to boost DEX's stake in the bullish rally. O use case of a real estate purchase using BNB or BTC, several users returned the currency as a Bitcoin equivalent, with Tron's Justin Sun referring to the BNB as the "new Bitcoin.
The exchange was also busy with their tokens launched through the Binance Launchpad. The system was modified to allow for a lottery-based approach, where lottery tickets distributed would depend on the amount of BNB retained, increasing the sale of the currency. Two Launchpad events saw the BNB price increase because of the lottery approach.
All this and more contributed to the recovery of Binance Coin from $ 6.19 at the beginning of the year to the current price of $ 25.21. The core of this increase came in late February, when the currency more than doubled in January. In the last seven days, the price of the currency soared by more than 37%.
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