Binance Coin price (BNB/USD) hits 12-week high on Wednesday morning

on Feb 6, 2019

The Binance Coin (BNB) has become part of the cryptocurrency top 10 after gaining nearly 10% over the most recent 24-hour period.

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The digital coin spent the better part of yesterday’s session hovering around the $7 mark, with its performance being in line with the largely quiet crypto market. However, BNB experienced a strong surge in the afternoon session, which lifted its price to an intraday high of $7.91. The digital coin finished the session at $7.82, still well above its opening price of $7.06.

The coin resumed its advance in today’s morning session, surging to a near three-month high of $8.47. Notably, BNB’s rally was in stark contrast with the broader crypto market, which suffered a significant downswing in the early hours of the session. However, BNB has seen a significant correction in recent trading, which has erased most of its earlier progress. At the time of writing, the Binance Coin price was hovering around $7.90, according to data from digital currency tracker Coinmarketcap.

BNB’s rise followed the announcement of a new project coming to Binance Launchpad, the token sale platform of the world’s largest cryptocurrency exchange. Dubbed Fetch.AI, the project “brings together machine learning (“ML”), artificial intelligence (“AI”), multi-agent systems and decentralized ledger technology to create an economic internet — an environment where digital representatives of the economy’s moving parts (such as data, hardware, services, people and infrastructure) can get useful work done through effective introductions and predictions,” according to an official .

In today’s trading, the Binance Coin stood at $7.84, as of 12:21 GMT. The digital coin has gained 9.9% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at $1.1 billion, which makes it the 10th largest digital currency on the market.

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