Binance Coin (BNB) Price Jumps 13% in 24 hours, Overtakes USDT in Market Cap

If you are a Binance Coin (BNB) investor, chances are that you have a permanent smile on your face these days! Binance’s native token, BNB, has continued to rise steadily over the past few days. BNB jumped by more than 13% in the last 24 hours, and was trading at $15.25 (~₹1068) at the time of writing. It even overtook popular stablecoin Tether (USDT) to become the seventh biggest cryptocurrency by market capitalisation.

Just a month ago, BNB was languishing outside the top 10 cryptocurrency list and was trading at nearly half its current price at $8.16. But the coin has made massive strides to be among the strongest performing cryptocurrencies in the last month.

A big reason for the huge uptrend is the upcoming Celer Network (CELR) token sale on Binance Launchpad. CELR is only accepting BNB for its token sale, and investors who missed out on BitTorrent and Fetch.AI token sales are likely accumulating BNB for the ICO. In addition, a lot of investors are also excited by the Binance Decentralised Exchange (DEX) trading competition further propelling the prices higher.

Crypto Twitter had a lot of good things to say about Binance Coin:

Experts predict that BNB can also touch $26 in the medium term. While that is debatable, the success of BNB goes to show that a solid project with quality fundamentals and a great team can still thrive in the crypto winter. Can BNB sustain the momentum though?

(Image Credit: Marco Verch | Flickr)

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