Binance Coin has risen in price by 189%

by in Cryptocurrency News

BNB

On January 18, 2021, the Binance Coin (BNB) rate rose to a record high: the coin rose to $ 46.18. Today, the token retreated as part of the correction and fell to $ 45.46.

Cryptocurrency capitalization on Tuesday, January 19, fell to $ 6.474 billion, but BNB is still in the top ten altcoins. Over the past six months, the cost of the token has grown by 189%.

The day before, BNB soared to all-time highs ahead of the next quarterly token burn. The liquidation of the batch of cryptocurrency is scheduled for today, but its volume has not been disclosed.

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One of the analysts Larry Zermak believes that the developers of Binance Coin plan to burn twice as many tokens as in the third quarter of last year. Then the team liquidated BNB worth $ 68 million. The volume of token trading in the latest quarter in the spot market grew by more than 50%. In the futures market, trading increased by 140%.

According to the analytical platform The TIE, the rise in the BNB rate has led to an increase in the number of posts on social networks dedicated to the token.

Of course, it is impossible to focus solely on the activity of Internet users when forming a token price forecast. However, in general, this is a positive factor signaling the growing popularity of altcoin and its good medium-term prospects in the market, experts say.