Binance Exchange Coin BNB Soars Due to Crypto Market Volatility

Among the current red market BNB brings a glimmer of hope

Mon, 18/06/2018 - 10:13

Binance Exchange Coin BNB Soars Due to Crypto Market Volatility

Cover image via U.Today

Over the last 24 hours, BNB has shown a 5.39 percent increase and is now trading at $16.88, according to Coinmarketcap.com. That is the maximum the coin has reached since February this year.

Besides, BNB seems to attract potential investors, since this coin, as it appears, can hold liquidity in the market, getting almost one mln dollars trading volume within 24 hours. Also, so far this is the only coin on the top 20 list that has shown such a fast upward movement in this short time period.

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BNB compared to other cryptos

The coin has exceeded the 5.03 percent rise of BTC and ETH’s 4.89 percent increase.

If the coin keeps moving at this pace, it may well reach the $17 mark within a few more hours.

What caused this upward jump

Even though no platforms but Binance trades BNB and this big rise could be the result of the overall market volatility, there is one more reason for the soaring of this token.

BNB is the only coin that is traded against BTC, USDT and ETH and brings more than a million US dollars within 24 hours.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.