Binance coin (BNB), otherwise known as BNB, is a rather young currency that is well known for being the native token on Binance exchange platform. After having a brief rebound that didn’t last more than 24 hours, the majority of currencies were trading in the green yesterday despite the previous 4-day round of decreases. However, we can once again see the market plummeting with the majority of currencies trading in the red. Binance coin is an exception this time as we could see BNB rising up to 14$ yesterday while it continued to trade in the green even today.
BNB Hits 15$ with an Unexpected Set of Gains
After having the market plummeting for four days with the majority of currencies going down while trading in the red, we could see a brief but a bullish return of the majority of assets with a quick change that occurred in the last 24 hours.
During the period of the mentioned rebound that didn’t last more than a single day, Binance Coin (BNB) managed to climb up to the price of over 14$ per one unit, that way getting closer to its all-time high that was set back in January 2018 when this currency was being traded around 24$ per one unit, which was before the initial market crash that took over a great part of February while taking over the entire march.
With this return, BNB actually demonstrated the increased trading volume which could be explained easily given the fact that BNB serves the purpose of covering trading fees on its native platform Binance exchange.
Taking into consideration that Binance coin thus makes a much-needed addition to your wallet, especially if your exchange of choice is Binance platform, it is no wonder that BNB continued to trade in the green even with the changing current in the market that quickly made the majority of currencies go from trading in the green to plummeting in the red zone in less than 24 hours.
Since Binance added more than a couple of coins in the last two weeks, it is an obvious case that BNB is also getting a portion of increased traffic on Binance exchange, which represents one of the top exchanges in the crypto market, also being the largest platform.
In case traders decide to go for trading their assets with Binance, BNB could come as a great addition because Binance made sure that you as a user will definitely consider owning BNB due to the trading perks you are acquiring that way.
That is how if you are paying with Binance coin while trading with currencies on Binance, you can get discounts while paying your fees in BNB. Alongside with discounts, which might or might not be tempting, Binance coin also makes up for a pretty solid investment, which BNB demonstrated in its last run when it got close to dealing at 15$ per one unit. Binance’s BNB baby seems to be made to thrive.
Binance Coin (BNB) and the Market
Still a newbie on the block, BNB is doing pretty while trading in the green on most charts. That is how BNB jumped up against the dollar by 60% in the course of the last two months, while it managed to rise by 22% against the dollar in the period of the last 30 days.
In addition to trading in the green on its 60-day and 30-day chart, Binance Coin is also in the green zone when observed on its chart for the last 7 days. In the last seven days, BNB went up against the dollar by 4.3% against the dollar while trading in the green. However, it did go down against the dollar in the last two weeks, going down by -7.4%.
The market went through a rough week as the market was trading in the red for almost 7 days straight. Afterward, a short rebound session that lasted for a couple of days after which we could see the market plummeting once again. Yesterday, on May 17th, the majority of the currencies started to rise up after a brief dip in the market, so Binance made it up by 17% in the last 24 hours.
After a one day long break, the market started to plummet again, so we could see the majority of assets going down against the dollar once again. However, BNB seems to be an exception as Binance coin is now being traded in the green with the latest set of gains in a total of 15.44% against the dollar.
After the latest change in the market, Binance Coin (BNB) can now be traded at 14.46$ per one unit.