Binance Coin price (BNB/USD) surges to near seven-month high on Tuesday

on Mar 5, 2019

The Binance Coin price (BNB/USD) has hit a near seven-month high after seeing a big surge in today’s morning and early afternoon trading.

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The digital currency proved more resilient that most of its chief crypto rivals during yesterday’s session, which started with a market-wide sell-off. While other major cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), struggled to recover from the early slump, BNB managed to rebound from a two-day low of $11.07. Following a steady advance in the afternoon, the token was able to finish the session at $11.55, up from its opening price of $11.54.

Today, BNB’s performance has been much more impressive. During the early hours of the session, the coin experienced a sharp price jump, which allowed it to break through the $12 mark for the first time in almost seven months. The coin continued to rise in subsequent trading, hitting a high of $13.82 in the early afternoon – its highest price level since August 7. At the time of writing, the Binance Coin price was hovering around $13.40, according to digital currency tracker Coinmarketcap.

While many digital currencies have struggled to find the path to recovery following the challenging 2018, BNB has enjoyed strong gains in early 2019. The latest price surge means that BNB has now more than doubled its value since the start of the year.

Binance’s native toke has been bolstered by a number of positive developments around the world’s largest digital currency exchange. Last month, the company launched the testnet for crypto trading platform DEX, which runs on the company’s proprietary blockchain, the Binance Chain. Also recently, it announced that had remained profitable despite the ‘crypto winter’ that dominated the better part of 2018.

Earlier today, Binance announced that the Celer Network ICO will be launching on the company’s token sales platform Binance Launchpad later this month. The exchange described the project as a “layer-2 scaling platform that enables fast, easy and secure off-chain transactions for payments and generalized off-chain smart contracts”.

In today’s trading, the Binance Coin price stood at $13.35, as of 13:57 GMT. The digital coin has gained 19.1% in the past 24 hours.


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