Binance Coin (BNB) becomes the first major cryptocurrency to reach all-time highs and beat its own price record from 2017 and 2018.
Though Binance Coin had an amazing track from the beginning of 2019, especially with Binance Launchpad pushing new crypto projects into the market, the main event that took place these days must be the launch of Binance Chain mainnet which will support the decentralized exchange from the same company.
In addition, Binance Coin’s growth potential seems to be equally supported by the constant release of new online exchange platforms in various jurisdictions from around the world, the latest of these being the Singapore fiat-to-crypto exchange that started operating recently.
Though Binance became recognized in the industry for its generous palette of cryptocurrencies and its crypto-to-crypto approach, the major exchange started a few months ago to start releasing more and more fiat-to-crypto platforms in various jurisdictions, such as Jersey Island and Uganda, or even Australia where Binance Lite offers locals the possibility to acquire Bitcoin with cash from more than 1,300 street shops.
All these recent developments, not to forget the important launch of Binance DEX (decentralized exchange) and Binance Launchpad’s successive token sale releases put some fire in Binance Coin’s boots pushing its price level to all-time highs.
There are voices in the industry saying that Binance Coin is not like any other decentralized currency since it seems to build on Binance’s success and it’s obviously supported by the exchange company to become the native cryptocurrency of Binance Chain and maybe the platform of choice for those looking to launch their own coins, similar to what Ethereum did in 2017 for companies running Initial Coin Offerings. The only people who don’t seem to complain are however the lucky ones who already invested in Binance Coin and are now watching its amazing growth.
The correlation with Ethereum may seem a bit far-fetched for some analysts but we’ve recently been informed by Binance CEO himself in a tweet that Mithril will soon become the first project to migrate its tokens on Binance Chain for better speed and security.