Binance Coin (BNB) has registered a strong rally and has surged more than 50% year-to-date to hit its new all-time high. The latest price rally comes just at a time when the company announced the Binance Pay service for its customers.
Binance Coin (BNB), the native cryptocurrency of crypto exchange Binance, has hit an all-time high (ATH) entering the list of top-ten cryptocurrencies by market cap. At press time, BNB is 8.29% up trading at a price of $57.9 with a market cap of $8.9 billion. At its current valuations, BNB is the ninth most-valued cryptocurrency moving past Bitcoin Cash (BCH).
In fact, it has been a pretty good year so far for Binance Coin (BNB). The BNB Coin has surged more than 50% year-to-date becoming one of the strongest performing cryptocurrencies currently in the market. Binance CEO Changpeng Zhao himself tweeted about the developments on Thursday, February.
All time high on system traffic again. In fact, 3 ATHs in the last 15 minutes. Some isolated latencies observed, monitoring.
Funds are #SAFU!
— CZ 🔶 Binance (@cz_binance) February 4, 2021
As CZ notes, the Binance Coin (BNB) registered record volumes on its native cryptocurrency exchange Binance. The latest BNB price rally comes as the “alt season” gathers steam. Apart from BNB, other top-ten altcoins like Polkadot (DOT) and Chainlink (LINK) have also been hitting their new all-time highs.
Of course, one cannot miss out on the rally in the world’s second-largest cryptocurrency Ethereum (ETH) that surged all the way to $1700 levels on Thursday backed by massive institutional purchases by Grayscale. At press time, ETH is trading at $1650 levels with a market cap of $190 billion.
BNB Hits ATH after Introduction of Binance Pay
Crypto exchange Binance is bringing different services to the market to push mainstream crypto adoption. Two days back it launched its Binance Pay service in direct competition to PayPal. Binance Pay allows users to make crypto payments to friends and family worldwide. Binance Pay will be completely contactless, borderless, and secure payments technology.
The beta version of Binance Pay has been already rolled out successfully which comes with its own systems of accounts. Binance users need to sign up for Binance Pay from their Binance wallets. Thus, for the user to access their Binance Pay wallet, users need to provide details like their nickname, PIN, and password.
Currently, the Binance Pay service supports six cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Euro, Swipe Token (SXP), Binance USD (BUSD), Binance Coin (BNB). Also, Binance Pay comes with native integration with Binance Visa cards. Users of Binance Pay can authorize and receive payments with QR Codes.
Binance said that Binance Pay will be a “major” part of the Binance ecosystem.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
