Binance Coin Finally Reached its All Time High, After the Announcement of DEX Launch

By Prashant Jha

Binance Coin(BNB) finally reached its all-time high price of $25.54 today where it is trading at 16% higher in the 24-hour price chart. BNB coin has been on a phenomenal run since the starting of the year, and many have predicted this milestone looking at the progress that the coin has made since its inception in 2019.

BNB coin reached the milestone price after the announcement of the decentralized Binance exchange which has been on the cards for quite some time now. The current market cap of BNB coin stands at  $3,540,083,385 USD pegging it to take the seventh spot.  Analysts suggest that the BNB coin price would grow further up looking at the bullish nature of the digital asset.

The recent surge in prices of BNB coin is no fluke or caused due to a pump, but its a result of years of persistence and hard work of the community members behind the coin. Binance exchange first invented BNB coin as a utility token to be used for different functionalities on its exchanges back in 2017. However, slowly the coin got a lot of attraction for its ease of use and starting from $0.0961 in August 2017, it is currently valued at over $25 US Dollars.

The approximate return on investment (ROI), if purchased at the time of launch (or earliest known price) for BNB is > 9000%. In the past 1 year, it is up by 100% approximately.

The majority of the BNB trading coin volume comes from the parent Binance exchange itself, which accounts for 45% of the total trading volume. Out of these numbers, 24.73% is for BNB/USDT trading pairs and 21.13% is from BNB/BTC trading pair. Apart from Binance, BNB coin is also heavily traded on Bit-Z exchange which accounts for 12.76% trading volume from BNB/BTC trading pair.

Among all the top-10 cryptocurrency by market capitalization, BNB coin is the only digital asset which has made double-digit gains over the past 24 hour period.