Binance Coin (BNB) Skyrockets Over $500 Reaching New ATH

Binance Coin (BNB) Skyrockets Over $500 Reaching New ATH
  • Bullish BNB price prediction ranges from $550 to $650.
  • BNB price may also reach $1000 in this bull run.

Binance Coin price skyrockets reaching a new all-time high of $509, according to CoinMarketCap. However, BNB has seen an impressive price surge this year. As the BNB price has rallied by over 900%. 

Moreover, one of the primary thing to consider for BNB’s spike was continued congestion on the network of Ethereum. More so, as the struggle takes place, Binance Smart Chain (BSC) has entered as an alternative. For instance, the rapidly growing decentralized finance (DeFi) sector’s demands are met.

According to CoinGecko, the BNB price is at $503 with a 24-hour trading volume of $5.065 billion, at the time of writing. 

BNB/USDT Price Chart
BNB/USDT Price Chart (Source: TradingView)

As BNB hits a $78 billion market capitalization, it has overtaken traditional banks, including Santander, the Bank of Montreal, and UBS. 

In a recent tweet Binance CEO mentioned,

Notably, BNB Coin burn is expected to happen soon.  All in all, if bulls keep the price above $500, it’s likely another leg up in price discovery territory would set BNB to reach near a new ATH.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.