BNB Price Hits New All-Time High as Binance Posts Mysterious Tweet
Binance Coin price is gaining in its value while the community is trying to guess what a mysterious tweet made by Binance could mean.
By Julia SakovichUpdated
3 mins readPhoto: Binance / Medium
The unbelievable price growth for Binance Coin (BNB) that currently occupies the seventh position in the list of the largest world’s cryptocurrency by market capitalization, has continued in May.
Till the fifth month of 2019 the currency’s all-time high used to be $24.50 which was observed in January 2018. Nevertheless, a year later, on January 1, 2019, the price for Binance Coin was at the level of $6. It means that over the course of 12 months, BNB had lost more than 75 percent of its value.
However, it’s necessary to admit that Binance Coin was not the only coin in the market that was suffering from the bearish trend. The entire market was affected by its negative impact. 2018 was named “the crypto winter” by traders and investors who were gradually losing their hope for the bright future for Bitcoin and altcoins, as some popular assets fell 90 percent or even more in their value.
BNB Price Growth
But now the crypto space has much more positive news. On May 19, BNB made headlines having crossed the $29 level which at that moment became its new all-time high and marked the gains of more than 380 percent since the beginning of the current year.
Later it climbed even higher to the $30 mark. At the moment, it is traded for $29.66 having gained over 3.6 percent over the last 24 hours. The current market cap of BNB is over $4 bln while its trading volume over the previous 24 hours was more than $571 mln.
Though this year, especially from the beginning of April, can be considered to be rather profitable for all major cryptocurrencies, the results of BNB still looks very impressive and appealing for investors and traders who are thinking of diversification of their portfolios
Maybe Binance Coin doesn’t have such a prominent name as Bitcoin, it is greatly supported by the name of one of the leading cryptocurrency exchanges, Binance and the initiatives of Binance CEO Changpeng Zhao and his team.
Binance Coin is in the center of attention of millions of traders utilizing the exchange. Moreover, the team staying behind Binance has taken a lot of measures to encourage traders to invest in BNB and to hold it long-term.
For example, Binance users who pay in BNB get discounts on trading fees. Moreover, they can participate in the “dust” program and exchange the currency for small amounts of leftover coins.
The Launchpad service of Binance has also greatly contributed to the long-term purchase and holding of BNB. Now investors can participate in a lottery system as for every 100 BNB held in their account they can get a lottery ticket that can be wagered when they are buying a new coin.
There is one more reason why so many people are tracking the achievements of Binance and BNB. Binance has been working on its DEX project since the last year. Thousands of people are looking forward to its full launch.
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