Binance BNT Token Reaches All-Time High In BTC
Binance Coin has reportedly extended its latest gains, thus it set a new all-time high in Bitcoin-denominated value. Also known as BNB, it is the token issued by the world’s largest digital currency exchange by trade volume called Binance.
Setting A New Record
At press time, the aforementioned token was trading at around 0.002619 BTC or $9.60. It is worth noting that before it reached the new figure, it was only able to reach 0.002688. This was believed to around 10:00 UTC Monday. This is basically the crypto’s highest price in its entire one and a half year history, as per the data from Binance.
The company said to have first listed BNB for trading sometime in July 2017. Since then, the token was successful in receiving at least 9,600 percent return on investment, particularly from its Initial Coin Offering (ICO) on December of the same year and with a price of $0.10.
At the same time, the BNB still has a lot of ways to go before it can approach its very own all-time high in USD value. As far as current figures are concerned, there has been a steady decline of about 58 percent from the token’s USD high, which is $22.48. The latter, in particular, was reached on January 12 last year. This time, though, the data came from OnchainFX.
Displaying Strong Performance
The aforementioned token’s Bitcoin-tied high happened following a period of strong performance, which was responsible for helping it reach greater heights over the past few weeks.
According to the official report, BNB has been a master in outperforming the market leader, including the world’s largest digital currency called Bitcoin. This achievement happened over the past 90 days. At the same time, the token managed to experience a 35 percent increase in the past seven days, particularly during the time BTC just rose at about 5 percent.
BNB’s recent growth has helped it become the world’s 10th largest digital currency in terms of market capitalization. As of press time, the token was able to register $1.33 billion as per the official data.
It holds true that the token is the only well-known crypto to reach all sorts of record. However, as far as becoming the best performer, it is still far from reaching the title.
In fact, data from OnchainFX suggests that at least three cryptocurrencies have outshined the token in the past seven days. This includes Theta Token, Dentacoin, and ARK.