Three hours ago, the native currency of Binance, BNB, spiked to hit a new all-time high of $641.86, according to the data provided by CoinMarketCap.
Binance Coin reached its previous ATH at the $628 level on April 12. Since then, BNB has added a whopping $2 billion in its market capitalization value, totalling $97,102,482,232 at the time of writing.
One of the likely reasons of the asset rising to the new historic price level is the recent announcement made by Binance to launch its own marketplace for non-fungible tokens (NFTs) in June.
Users there will be able to make, buy and sell NFTs seamlessly.
Besides, Binance Smart Chain (BSC) remains a major rival of Ethereum for decentralized finance applications with fees that are incomparably lower that on the second biggest blockchain.
As of writing this, BNB is trading at the $633 level on the Binance exchange.