Is BNB about to hit a new all-time high?
Based on daily trading volume, Binance is the largest cryptocurrency exchange at the moment. It was established by Changpeng Zhao, the chief executive officer (CEO) and He Yi, co-founder and chief marketing officer.
Binance launched its coin (BNB) in July 2017. BNB was established on the ERC-20 ethereum chain but later established its own blockchain – Binance smart chain.
Several other coins have launched successfully on the Binance smart chain block. The BEP-20 network is secured by proof-of-work (PoW) instead of the proof-of-stake used by Bitcoin.
Binance has a cluster of services under its name; these include Binance Smart Chain, Trust Wallet, Binance Chain, Research projects, and Binance Academy. The drive for development gives Binance a competitive advantage.
BNB has a daily trading volume of over $2.8 billion. BNB has a total supply of over 166 million, all of which are currently in circulation. It has a market cap of over $105 billion. It is ranked in 3rd place according to CoinMarketCap.
BNB daily candlestick chart (Source: Tradingview)
BNB has been experiencing a steady climb up in the past couple of weeks. Are we about to see BNB hit a new all-time high?
Binance coin (BNB) ranges in price between $604.87 and $635.13 currently. Its all-time low was recorded at $0.09611, on August 01, 2017. An all-time high was recorded at $690.93 on May 10, 2021.
Summary
The drive for development led to the creation of the Binance network, which includes the Binance Smart Chain and Trust Wallet. By daily trading volume, Binance is the largest cryptocurrency exchange in the world based on daily trading volume.
