Zhao ChengPeng, CEO of Binance, must be a happy man at the moment. His very own Binance Coin (BNB) reaches a new milestone of achieving 0.002287 BTC yesterday. This marks a monumental 8% increase for the crypto giant’s own cryptocurrency.
This sharp rally just pushed Binance Coin’s market capitalization to a five-month high beyond $1.9 billion, thereby becoming the 17th biggest cryptocurrency in terms of market capitalization — an evident cause for celebration for the world’s biggest cryptocurrency exchange platform.
Furthermore, the momentum is supported by an astounding 155-percent rise in trading volume over the past 48 hours or so, backing the notion that this did not just happen by fluke.
In the meantime, the exchange rate between Binance Coin and the US Dollar (BNB/USD) marked an overwhelming 5-month high of $17.60 on Binance and was trading at $16.68 at CoinMarketCap as of the time of posting, reaching up to 15% gain after 24 only hours.
A comprehensive observation at the crypto market shows that the Binance Coin and Bitcoin (BNB/BTC) and Binance Coin and Tether (BNB/USDT) pairs contribute for more than 85 percent of the total BNB trading volume ($0.148 billion) seen in the last 24 hours.