19. April, after the high expected debut of the Binance Chain Moon, the price of Binance Coin (BNB) increased by 10 percent against the US dollar, and became the second crypto access (after EOS in May 2018) since 2017 to achieve an all-time high .
Other cryptographic savings coming close to BNB, digital assets created before 2019, are down to 20-50 percent against the dollar, with most other tokens down nearly 99 percent against the USD since the top of the market in 2017.
How Binance Coin (BNB) is First Crypto to Surpass ATH Since 201[ads1]7
On January 12, 2018, Binance Coin achieved a record high of $ 24.46 after registering a 12-fold increase in value in just two months.
Over the last 24 hours, BNB increased by 11.2 percent against US dollars and beat $ 24.77 after the high expected launch of the Binance Chain memory, and recorded a staggering 309 percent gain year-to-date.
The large increase in the election of BNB in a relatively short period of time suggests that investors in the crypto activity are sure of the long-term growth of the crypto course, especially in the decentralized exchange ( DEX ) and decentralized application (DApp)
Following the launch of Binance Chain's maiden, several blockchain projects such as Red Pulse and Mithril moved from smart contract protocols such as Ethereum to Binance Chain.
– CZ Binance (@cz_binance) April 18, 2019
Other major projects such as Enjin, who allegedly secured a strategic partnership with Samsung, announced support for Binance Chain and BNB.
– Engine (@enjin) April 19, 2019
But before the construction against the maine launch of Binance Chain BNB has performed strongly against both bitcoin and US dollars throughout the 16-month bear market.
BNB's solid performance through 2018 is mainly due to its coin burning mechanism, a process where profits generated by Binance, crypto-to-crypto exchange, are used to buy back BNB from holders.
Progress BNB established by the buyback mechanism was driven by the launch of a decentralized exchange in the first half of 2019, accompanied by the launch of its own blockchain protocol.
In the coming days, Binance is expected to launch the second largest tokens weapon in the Crypto Market history, which moves BNB, currently based on Ethereum as a ERC20 token to Binance Chain.
Interesting, 2nd largest prey in history. Learn something new every day! https://t.co/SCPCHwC4c6
– CZ Binance (@cz_binance) April 19, 2019
BNB remains the most valuable token on Ethereum with a large margin with a [Marketvalue of $ 3.4 billion. Maker, the second most valuable symbol of the protocol, is valued at $ 620 million.
What BNB must prove now
If the price of BNB worked well through 2018 due to the buy-back mechanism and rallied again in 2019 in In anticipation of the maiden release, Binance Chain must show real potential such as high throughput and large capacity blocking to keep the big win. 19659002] While Binance Chain's focus is apparently placed to support decentralized exchanges, it must demonstrate to investors that projects like Mithril and other blockchain platforms are planning to migrate to Binance Chain that they can work seamlessly on the protocol.
The eyes of investors are now probably placed on how the Binance team will move forward with their plans for further decentralization for its DEX .
Update April 19 at 7:40 pm PT: An earlier version of this article stated that BNB was the only coin to beat its full time high since 2017, but EOS beat its full time high in May 2018. The title and article have been updated to reflect this fact.
Binance Coin, currently ranked No. 7 at market value, is up 12.54% over the last 24 hours. BNB has a market value of $ 3.41B with a 24 hour volume of $ 395.47M.
Map by CryptoCompare
Filed Under: Altcoins, Crypto Exchanges, Price Watch
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