- Binance Chain has launched smart contracts of late. These contracts will enable the development of DeFi products.
- Currently, the price of Binance trading on the chart is $45.28. It is regarded as close to an all-time high
Binance coin price has been showing signs of a bull run on the blockchain. Many investors are seeking to invest in the BNB coin to garner profits. Since Binance is the most important name in the crypto market, investors believe it to be a genuine product.
Binance coin Price (BNB) sees a bullish trend and has garnered a lot of investors’ attention. The coin has gained an all-time high as demand for it is rising continuously. Other altcoins like Chainlink, Polkadot, and Cardano also saw many requests and have been on an upswing rally. Bitcoin being the prominent one to be for some time now.
This upsurge in BNB could be because of several reasons, and among them, the prominent one is the popularity of Binance. It is a meaningful name and the most recognizable name in the crypto market. As a result, investors believe that it is a genuine product and that investing in it would not harm their profits.
Secondly, there was a challenge of supply. In other words, it is popularly known as a token burst. This only happens when a coin is removed permanently from the list. The third and the most important reason is that the Binance Chain has launched smart contracts of late. These contracts will enable the development of DeFi products. The cross-chain assets in the chain have moved to more than $250million.
Currently, the price of Binance trading on the chart is $45.28. It is regarded as close to an all-time high. The price remains above the 25-day and 15-day exponential moving averages (EMA), while the momentum indicator is above the neutral level of 0. Hence, the currency will continue to rise as bulls start targeting the psychological group of $50.
Binance launched its Binance coin in 2017. Binance is a kind of cryptocurrency exchange. The company’s goal was to make a native currency so that customers can pay the fees on the Binance platform. It was built on the Ethereum Blockchain platform initially before it was moved to the Binance chain network. The company had also raised more than $15million in an ICO.
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