Binance coins sets another ATH due to the high number of new user registrations, taking out the resistance that was set in 2019 so let’s find out more in our latest Binance coin news.
Binance made its debut on the crypto bull market which is coming to a conclusion. BTC started approaching $20,000 and the altcoins started soaring. Because the exchange was known for its list of “Exotic” altcoins, the altseason was great for the brand. Binance spent the bear market on trying to build its brand and became an innovator and a leader in the space soon after.
The company introduced initial exchange offerings and was among the first exchanges that introduced a native crypto token, Binance Coin that is aimed at reducing the fees, offering voting power and other benefits for the holders. As one of the few tokens that offer real utility, BNB held up well and set a new all-time high in 2019. After the peak, the exchange had to spin off its US operations and some of the platform’s dominance diminished ever since.
IEOs fell out of favor which only left BNB reeling for quite some time but from March 2020, Binance Coin has increased by 576%. Over the past few weeks, the crypto market picked up some steam and started catching up to the BTC rally with new user registrations exploding while taking advantage of the bull market. the more users on Binance started taking advantage of their exchange token, it created a bigger demand for the coin and caused to break higher than the timeframe resistance. Binance coin sets another ATH but the resistance from its former all-time high seems to be holding as support which only shows that BNB is making a move higher.
With the height of the bullish case pointing to a breakout, BNB could hit $300 per token. Also, with the demand skyrocketing, the results could be dramatic. Binance similarly to Coinbase increased the ranks of Apple’s App Store for iPhone while last week during the GameStop saga, Binance’s app made the top ten in “Free apps.” As reported earlier, Binance saw exponential growth In use traffic after the spike in the price of Dogecoin. CZ said that Elon Musk and his decision to put “Bitcoin” in his Twitter bio may have helped things as well.
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