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BNB Prints New All-Time High of $641, Here’s Why

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Sat, 05/01/2021 - 05:24
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Yuri Molchan
Binance Coin has reached a new historic peak, leaving the April all-time high behind
BNB Prints New All-Time High of $641, Here’s Why
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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.

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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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and 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.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.