Binance Coin (BNB) has been the best top 20 performing asset during the last week after Maker (MKR). This price increase comes days before high-profile events that are related to the exchange. A few days ago, Binance just launched a new fiat-to-crypto exchange called Binance Jersey.
Binance Coin Grows 9% in Just 7 Days
Binance Coin continues to show that it has a lot of space to keep growing and improving in the future. The digital asset has increased 9% during the last 7 days according to data provided by CoinMarketCap. Binance Coin is the virtual currency created by the Binance exchange. This platform is one of the largest in the cryptocurrency market.
Just a few days ago, Binance launched the Binance Jersey exchange. This new platform allows users to trade Bitcoin (BTC) and Ethereum (ETH) against the Euro (EUR) and the British Pound (GBP). This could have played an important role in pushing the price of Binance Coin higher than other assets.
Indeed, the number of users using the platform could increase in the future. Other digital assets could be added if the exchange turns out to be successful. Moreover, it could be possible to see Binance Coin being implemented in this platform as well.
At the same time, the Binance Blockchain Week is going to take place in Singapore from January 19 until January 22. This event could be a good moment to launch new products or services as well. Thus, this event could be related to the price increase experienced by Binance Coin.
At the moment of writing, Binance Coin is the 13th largest digital currency in the market. Each BNB can be purchased for $6.53 and it has a market cap of $843 million. BNB has a larger market capitalization than the popular privacy coin Monero (XMR) or Dash (DASH). These two cryptocurrencies have been in the market for a very long time. In the last 24 hours, BNB has registered a price increase of 1.08%.
In the future, Binance is also planning to launch a decentralized exchange (DEX). Until now, decentralized exchanges did not have a good performance in the crypto market. Most of them have poor usability and user interface. Furthermore, liquidity in current DEXs is very low. Binance could create the first massively used decentralized exchange in the market.
Check out the BNB Price Prediction and Technical Analysis article. Interested readers should also check out our coverage of Binance Coin in articles exploring its ‘gas’ use for Binance’s decentralized exchange, or how BNB price rose in relation to the exchange’s expansion.