Why Binance Coin is Pumping

After spiking by up to 18% at some point yesterday BNB traded at a record 0.002287 BTC, an all-time trade high against Bitcoin.

Against all odds in the crypto market, BNB has been growing rather steadily, and yesterday, June 6, BNB achieved a new high. BNB, the native token for one of the most popular and widely used digital exchange platform has been receiving a lot of attention, and for the right reasons too.

The trade volume of BNB has grown by almost 300% in the last 72 hours alone, which can be linked to the new listings on the world’s largest digital exchange platform, and to the most recent partnerships and developments around the Binance ecosystem.

New Pairs for Popular Tokens

Over the last week, Binance has listed trading pairs that could be the reason behind the hiking trade volumes. Binance has listed trade volumes like XRP/BNB, IOTA/USDT, XLM/USDT and TUSD/USDT. The rising trade volumes of Binance can be a result of these listings. The exchange has also listed 3 new coins including QuarkCoin, SingularityNET, and Nexus.

Binance’s New Partnership

Binance in a press release on June 5, announced a big partnership with ChiliZ, a counterpart of the Malta-based sports and entertainment company, Mediarex. The partnership will see both companies work together on the premise that the gaming industry will be the next major industry to turn to blockchain technology. A combination of this new announcements and the exchange listings on Binance could be what set the market right for Binance Coin (BNB) to record such explosive growth.

While the crypto community is rejoicing over the partnership, CEO of Binance, Changpeng Zhao has revealed that the company has already set up a bank account in Malta in anticipation of introducing fiat pairs.

Categories Bitcoin Blockchain Cryptocurrency

You must log in to post a comment