Binance Coin Surpasses 1 Billion Trading Volume After BNB Network Upgrade
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There is power in numbers and Binance Coin (BNB) has proven it time and time again with its strong community of Bitcoin enthusiasts whose faith in the coin has always been its strong fortress.
- BNB’s trading volume crossed the billion mark after the network update
- BNB price increased by 2.04%
- Binance issues Binance Account Bond (BAB) for KYC verification
Binance recently introduced the Binance Account Bond (BAB) token. It is the token used to identify BNB users who have completed KYC verification. The launch of BAB was announced in a tweet.
This latest update allows users to present this identity for authentication and also for creating different projects and earning rewards on the platform.
Since BAB’s announcement, BNB has gained 6% in just over 24 hours, making it one of the best cryptocurrencies by market cap.
Binance Coin Update Increases Trading Volume
By CoinMarketCapThe price of Binance Coin has skyrocketed by 2.04%, trading at $295.28 at press time.
In addition, trading volumes have increased by more than a billion with the latest updates. The market value realization value (MVRV) also rose accordingly and will continue to rise in the coming days.
Additionally, Changpeng Zhao, CEO of Binance, clarified in a tweet that “BAB token does not contain any data or utility other than to indicate that the wallet holder has passed KYC checks through Binance.” That may be the case for now.
Binance launches new zkBNB
In addition, the Binance platform also introduced the new and revolutionary zkBNB, which has the exact same layer-1 security level that the BNB Smart Chain has to promote safe building mechanisms.
A few indicators on the BNB chain show a rising position for the token. BNB’s rise has also been significant, as it trades below $300.
In particular, development activity on the platform has increased over the past couple of days, coinciding with the latest update to BAB, showing how seriously the developers are committed to improving the network’s technical capabilities.
BNB, Binance’s original token, has seen unprecedented growth since its inception. The token is mainly used to take advantage of lower or discounted trading fees and to join the Binance Launchpad.
Demand for BNB has grown exponentially since 2020. Economically or based on the law of supply and demand, demand always exceeds supply.
Thus, BNB may skyrocket and beat the ATH in 2021, especially with the onset of a raging bull market.
BNB total market cap at $47.5 billion on the daily chart | Source: TradingView.com Featured image from Blockchain News, chart from TradingView.com