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Binance Coin (BNB) Reaches All-Time High Against BTC

gold bnb coin

Binance Exchange’s own crypto asset, Binance Coin (BNB), has shot up 8% since yesterday, pushing its market cap over $1.9 billion, the highest in five months.

The majority of the rise was attributed to its pairings with Bitcoin (BTC) and Tether (USDT), which made up in excess of 85 percent of trading volume.

Binance Coin reached a record high against Bitcoin, trading at almost 0.0023 BTC at one point.

This high was reached as a result of a 155 percent rise in trading volume which could be attributed to the many new listings and trading pairs the Binance Exchange has been adding lately. Altogether the rise pushes BNB into 17th position on Coin Market Cap.

As reported yesterday, the Binance Exchange is seen as a safe-haven by many investors and exhibits movements correlated with trading volume and liquidity.

Binance Coin against the US dollar (BNB/USD) also saw a 5 month high of $17.60, up 15 percent over 24 hours.

Image From Shutterstock

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