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Binance Coin [BNB] Spikes by 6%, Becomes Top Gainer in 24-hour Cycle

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After a bearish morning for all the leading coins across the cryptocurrency board, the market finally turned green with Binance Coin taking the charge. At the time of writing, BNB token rocketed by 6.12% where it was trading at $24.56 with a market cap of $3.46 billion. Here, its trading volume was recorded at $245.5 million.

BNB 1-day price chart; Source: CoinMarketCap

Recently, BNB has been performing relatively bullish than its contemporaries. In January, the coin was frozen in the red zone by the crypto-winter and was still trading at around $6. However, it was soon observed that Binance Coin had hit the All-Time-High and surpassed the performance by its competitors.

Also Read: Ethereum, Monero and XRP Bullish, Peter Brandt Lists Stop Loss Levels To Watch-Out For

On the weekly front, the token has shown outstanding spirit as the figures reflect a hike of at least 25% in its market price. At the beginning of the 7-day cycle, BNB was trading much lower at a price of $19.76 where it’s market cap was equivalent to $2.78 billion. In a week’s time, the market cap took a flight and showed an increase of around a billion dollar.

BNB 7-day price chart; Source: CoinMarketCap
BNB 7-day price chart; Source: CoinMarketCap

Furthermore, BNB also broke over $25 in the last 48 hours and has maintained consistency since then.

One of the biggest reasons that are attracting investment on the token is the launch of Binance Chain, the blockchain protocol by Binance. Being the biggest cryptocurrency exchange in the world, Binance has majorly influenced BNB’s market performance with such announcements.

Today, the official Twitter of Binance DEX also posted the news of its integration with CoolWallet S app. This, the exchange claimed, would allow seamless interaction between the user’s desktop, DEX, and CoolWallet app.

Here, a Twitter handle dedicated to XRP called RareData commented:

“With a DEX live for years for @Bitstamp USD, @GateHub EUR, @Bitso MXN etc. I would love to see the same functionality enabled for the XRP ledger!”

Another Twitter user and a cryptocurrency enthusiast, Robert Miller also wrote:

“Their support is the best I’ve ever seen.”

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