BNB set a new ATH at 716 USD, the entire ecosystem "evolved" accordingly
BNB, the native currency of the Binance exchange, is becoming a "bright star" in the cryptocurrency "sky".
In just the past 24 hours, BNB has jumped more than 11%, surging past 700 USD, setting a new ATH record. The most recent peak that the native coin of the BNB Chain ecosystem reached was 690 USD in May 2021.
In terms of trading volume, about 3.3 billion USD in BNB has changed hands in the past 24 hours. This coin holds 107.2 billion USD in market capitalization.
Commenting on the above milestone, expert "Sheldon The Sniper" puts his faith in BNB, considering it one of the dominant altcoins in the market. This person predicts that a price target of $1,000 is within reach if the current trend continues.
Analyst Kaleo also gave his perspective:
“While all the attention is on BTC, ETH and SOL, BNB is quietly entering a new price phase. Don't forget that BNB was one of the coins leading the market in the previous bull season. History does not always repeat itself, but there are often similarities.”
As usual, BNB's upward momentum is often reinforced by Binance Launchpool and Launchpad. This platform encourages users to hold and stake BNB to farm new coins ahead of their listing on Binance. The frequency of launchpools and dense listings have significantly contributed to helping the largest crypto exchange on the planet not only retain users but also "subsidize" the price of its exchange coins.
However, at the present time, BNB suddenly broke its peak in the context of no new launchpad or launchpool. The closest is Launchpool Notcoin, a game that attracts users because they can earn free profits through the Tap-to-Earn mechanism directly on the Telegram messaging application.
The mother coin's "movement" caused the entire BNB Chain ecosystem to start "stirring" as well.
At the same time, Bitcoin increased nearly 3% compared to 24 hours ago and is trading around 71,225 USD, thanks to a huge inflow of 887 million USD flowing into ETF Spot yesterday. This good news also dyed most altcoins on the market green.
