The native coin of the largest cryptocurrency exchange Binance has sharply increased in price in recent days. Over the week, BNB grew by 20%, breaking the psychological mark of $300. The last time the asset was traded at this level was at the beginning of summer. This is evidenced by data from CoinMarketCap.
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At the time of writing the news, the cost of BNB was $310-312. As can be seen from the graph, the asset was in a bearish trend for a long time; its price dropped significantly over the course of 5 months amid pressure from the United States authorities on the company and personally on the founder of the exchange, Changpeng Zhao.
BNB price dynamics as of December 27, 2023/Source: CoinMarketCap
However, starting in October, interest in the asset began to grow , and over the last week the coin has sharply increased in price.
The jump in demand for the asset could be due to the announcement of a new project on the Launchpool from Binance – Sleepless AI. It presents a Web3 platform using AI, writes ForkLog.
In terms of market capitalization, BNB now ranks 4th ($47 billion). The coin competes with Solana, which has also recently increased its price significantly.
The largest cryptocurrencies on the market/Source: CoinMarketCap< /i>