Binance Coin price (BNB/USD) returns above $9 after strong performance on Friday morning

The Binance Coin price (BNB/USD) has bounced back after suffering a drop to a multi-day low in yesterday’s trading session.

The digital coin had to endure some rough trading on Thursday morning. It experienced a steady decline, which culminated in its price hitting a six-day low of $8.46 in the early afternoon. BNB’s performance improved in subsequent trading, which allowed the coin to pare some of its early losses. It ended the session at $8.78, down from its opening level of $8.93.

The coin advanced further in today’s morning trading, with its price reaching a three-day high of $9.51. While BNB has experienced a significant pull-back in more recent trading, it remains above the $9 mark. At the time of writing, the Binance Coin price was hovering around the $9.10 level, according to data from digital currency tracker Coinmarketcap.

While the reason for BNB’s rally was not immediately clear, positive developments around the coin’s issuer, crypto exchange giant Binance, might have boosted the market sentiment.

Binance’s founder and chief executive officer Changpeng Zhao announced on Tuesday that the firm will launch a testnet version of its decentralised crypto trading platform later this month.

“Targeting to release Binance Chain testnet (@binance_dex) for public testing on Feb 20th. This is a testnet, your feedback would be most valuable,” Zhao posted on Twitter.

And on Wednesday, the company’s chief financial officer Wei Zhou told CNBC that Binance remained profitable despite current bear market.

In today’s trading, the Binance Coin price stood at $9.09, as of 15:12 GMT. The digital currency has gained nearly 6% in the past 24 hours, Coinmarketcap data shows. The coin’s total market cap currently stands at almost $1.3 billion, which makes BNB the 10^th-largest digital currency on the market.