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Three Reasons Why Binance Coin (BNB) Just Hit $100

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Tue, 9/02/2021 - 14:53
Three Reasons Why Binance Coin (BNB) Just Hit $100
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Binance Coin (BNB) hit a new all-time high of $100 at 1:39 p.m. UTC on the Binance exchange, inching closer to surpassing XRP.

The token is now up more than 35 percent over the past 24 hours, outperforming even Bitcoin.

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Thanks, Elon Musk

Binance logged a new all-time high in traffic on Jan. 8, according to a tweet posted by CEO Changpeng Zhao:

Fact is, the systems will experience some issues here and there as we scale up exponentially. Nothing we can't fix quickly, but not going to be a perfect smooth ride.

As reported by U.Today, Binance, together with other major exchanges, was struggling to grapple with enormous demand after Tesla announced its $1.5 billion Bitcoin purchase.

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Binance's growing family of products

Earlier this February, the largest cryptocurrency exchange introduced a beta version of Binance Pay, its PayPal competitor:

Binance Pay (beta) allows you to pay and get paid in crypto from your friends and family worldwide.

Furthermore, Binance Chain is now emerging as a serious competitor to Ethereum, with CZ now routinely taking jabs at the latter.

Related

A quarterly token burn sends BNB through the roof

Binance Coin has now rallied over 130 percent since the 14th token burn that was announced on Jan. 19. A total of 3.6 million BNBs were permanently removed from circulation, thus making the token scarcer.

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