BNB, Binance’s native token, has set a new all-time high. The coin has risen by 11.8% in the last 24 hours. The fourth-largest cryptocurrency by market capitalization has risen to a record-breaking $708.
The latest pump has lifted the price past its previous all-time high of approximately $690, reached in May 2021.
Key Points:
- Binance Launchpool’s popularity has contributed to BNB’s surge.
- Binance Launchpool has officially confirmed its support for Notcoin.
- Notcoin, which can be earned through a Web3 game on Telegram, has a market capitalization of $2.2 billion since its inception.
- BNB’s increase coincides with the exchange’s continued battle in Nigeria.
The surge in BNB’s price has been accompanied by a rise in trading volume, which crossed $3.3 billion. The token’s market capitalization currently stands at an impressive $108.8 billion.
One of the primary drivers behind BNB’s recent success is the growing popularity of Binance Launchpool. The Launchpool is a platform that allows users to stake their BNB tokens to participate in new token offerings on the exchange. This mechanism has created a strong demand for BNB.
BNB’s surge coincides with Binance’s struggle in Nigeria.
Last month, Binance Launchpool made waves by announcing its support for Notcoin. Binance claims to be the first platform to offer Notcoin, which has subsequently grown to a market valuation of $2.2 billion.
The success of Notcoin and other tokens launched through Binance Launchpool has benefited not only the relevant projects, but has also increased the value of the BNB.
BNB’s price increase comes amid a broader market rise, with Bitcoin and Ethereum both showing single-digit gains.
The price increase occurs at a time when the exchange is still experiencing challenges in nations such as Nigeria. Some X users also tweeted that BNB is increasing despite the fact that the exchange’s founder, CZ, is currently incarcerated.
SOURCE milkroad