Binance Coin records yet another milestone in 2019 as BNB’s market cap crosses $5 billion
Binance today, is one of the world’s biggest crypto-exchanges in terms of trading volume. The exchange’s performance has had a positive influence on its native token, Binance Coin. Binance, alongside Coinbase, also enjoys the highest web traffic among all the world’s crypto-exchanges.
The overhead chart depicts BNB’s elliptical surge in terms of both value and market cap. BNB maintained a stable valuation throughout much of the year, even during the crypto-winter when a majority of coins dipped. In fact, Binance’s native token has surged by over 450% in 2019. At press time, BNB was priced at $35.69 with a 24-hour trading volume of $552.52 million. It had a market cap of $5.04 billion.
The main reason behind BNB’s surge is its migration from ERC-20 to Binance’s own blockchain. Also, as already discussed, Binance’s own performance has rubbed onto the performance and valuation of Binance Coin. Additionally, the migration of many other digital coins to Binance blockchain has also contributed to the success and growing popularity of the two.
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.