Binance Coin Hits Record High Against Bitcoin
The world’s largest cryptocurrency exchange Binance’s token Binance Coin (BNB) is touching extreme limits against Bitcoin.
BNB achieved the new milestone of 0.002287 BTC at 10:45 UTC Wednesday, and was last seen changing hands at 0.0022 BTC on Binance, up 8% since yesterday.
A detailed look at the individual markets reveals that the BNB/BTC and Binance coin-tether (BNB/USDT) pairs account for more than 85% of the total BNB trading volume ($0.148 billion) seen in the last 24 hours.
BNB became the 17th largest cryptocurrency by market capitalization, being supported by the sharp rally pushing it to a five-month high above $1.9 billion.
The gains appear to be sustainable, given the rally is further backed by a 155% rise in trading volume over the last 48 hours.
The BNB/USD exchange rate also hit a 5 and a half month high of $17.60.