Binance Coin (BNB) is up over 130 percent since the last quarterly token burn
Binance Coin (BNB) hit a new all-time high of $ 100 on the Binance exchange at 1:39 p.m. UTC, getting closer to exceeding XRP.
The token has risen by more than 35 percent in the past 24 hours, even outperforming Bitcoin.
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Thank you, Elon Musk
Binance posted a new all-time high in traffic on Jan. 8, according to a tweet from CEO Changpeng Zhao:
The fact is that the systems are going to have some problems here and there as we scale exponentially. Nothing we can’t fix quickly, but it’s not going to be a perfect, smooth ride.
As reported by U.Today, Binance, along with other major exchanges, struggled to cope with the huge demand after Tesla announced its $ 1.5 billion purchase of Bitcoin.
Binance’s growing family of products
In early February, the largest cryptocurrency exchange launched a beta version of Binance Pay, its PayPal competitor:
With Binance Pay (Beta) you can pay and get paid in crypto by your friends and family worldwide.
Additionally, Binance Chain is now emerging as a serious competitor to Ethereum, with CZ now routinely encountering the latter.
A quarterly token burn sends BNB through the roof
Binance Coin has gained more than 130 percent since the 14th Token Burn announced on January 19. A total of 3.6 million BNBs were permanently withdrawn from circulation, which made the token scarcer.