Binance Coin (BNB) has seen a lot of good gains over the past one month, breaking into the top 10 cryptocurrencies by market cap. At the time of recording, Binance Coin was trading around $15, up 10% in the last 24 hours. There are three main reasons for this rapid price movement in BNB:
1. Integration with Binance Launchpad – Retail investors have been wanting to get their hands on projects launched on the Binance Launchpad. The first two token sales on Binance Launchpad – BitTorrent and Fetch.AI – can be considered highly successful considering the bear market. With the third token sale – Celer Network (CELR) – Binance Launchpad has gone a step ahead and is accepting investments only in BNB. It is likely that retail investors are accumulating BNB to participate in the Celer Network token sale.
2. Binance Decentralised Exchange – BNB will play a central role in Binance’s upcoming DEX. Binance is currently running a trading competition on its DEX where users can win BNB for trading. This may have generated a lot of interest among users.
3. Argentina backing Binance Labs – The Argentinian government has decided to back projects coming out of Binance Labs. This also has an indirect effect on the price of BNB.
Looking for Binance Coin price prediction? We look at some more reasons which can take BNB uphill or downhill in the current market.
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References:
Binance Coin (BNB) Price Jumps 13% in 24 hours, Overtakes USDT in Market Cap: https://cryptodost.io/altcoins/binance-coin-price-jumps-13-in-24-hours-overtakes-usdt-in-market-cap.html
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