Binance’s BNB Coin Surpasses $300 Mark Amidst Market Recovery

Name	Symbol	Market	Market Cap ($)	Algorithm
Binance Coin	BNBUSD	Crypto	93,708,375,871	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Binance Coin

BNBUSD

Crypto

93,708,375,871

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.431686	0.07%	592.30	592.23	592.30

Price Change

Price Change %

Current Price

Bid Price

Offer

0.431686

0.07%

592.30

592.23

592.30

High Price	Low Price	Open Price	Prev. Close	52 Week Range
595.37	591.69	592.18	591.86	210.00 - 683.83

High Price

Low Price

Open Price

Prev. Close

52 Week Range

595.37

591.69

592.18

591.86

210.00 - 683.83

Exchange	Last Trade	Size	Trade Price	Currency
BINA	03:52:17	0.342000	592.30	USD

Exchange

Last Trade

Size

Trade Price

Currency

BINA

03:52:17

0.342000

592.30

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,184,370.25	2,003.05	BNB	BNBEUR	BNBGBP	BNBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,184,370.25

2,003.05

Binance’s BNB Coin Surpasses $300 Mark Amidst Market Recovery

31/10/2022 10:20am

NEWSBTC

Binance Coin (BNB) has surpassed the $300 mark after its price surge over the week. The token was trading at around $274 per coin last Thursday and even threatened to fall lower as the week progressed. However, Tuesday saw the coin recover, adding around 5% profit to trade at $289. It has been smooth sailing from then onward for BNB as it continues to climb higher in value. As of writing this article, BNB is currently trading at $313. BNB’s $300-mark breakthrough comes at the same time popular meme coin Dogecoin adds over 90% value in a week. BNB is currently ranked the 4th largest cryptocurrency by market cap. Related Reading: Litecoin Price Revisits $56, What Is Next For The Bulls? BNB Soars As the Overall Crypto Market Recovers The cryptocurrency market has seen a significant recovery this October. After several bearish weeks, the entire crypto market broke through its $1 trillion market-cap barrier earlier this week. This move acted as a catalyst for many cryptocurrencies to see massive gains. One such example is Binance Coin which surged more than 5% on Tuesday alone. It continued to rise throughout the week, adding a total of 15% to its value. Binance coin had it rough on October 6th when the entire crypto market started a correction phase. Before the start of the correction, BNB was at $296 and on the verge of testing the $300 mark. However, it never got to that point as the bears took over, pushing the coin to a one-month low of $257. BNB’s path to recovery was slow, with fluctuations in value between $266-$276. On Tuesday, we saw BNB break out of its consolidation range. It finally broke through the $300 mark yesterday and set a new monthly high of $318 today. Now, BNB is up nearly 5% against Bitcoin, and it seems like it will continue to grow as long as the overall market recovers. BNB Establishes A New Benchmark Against BTC TradingView’s data reveals that the BNB/BTC exchange rate temporarily exceeded 0.15 BTC, reaching a record 0.15267 BTC. Binance’s native coin, BNB, has increased in value by almost 10% over the previous three days. The token’s strong performance followed news that it would help Twitter eliminate bots under Elon Musk’s new administration. Binance committed $500 million to Musk’s acquisition of the social networking site. In a cryptic tweet, Binance CEO Changpeng “CZ” Zhao alluded to an interview he gave to crypto media company Decrypt. He said, “Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon/Twitter.” Related Reading: Will Binance Oracle Hamper Chainlink Growth Amid The Bullish Run CZ then tweeted “Let’s unleash the bird” and “Crypto Twitter,” the former presumably a reply to Musk’s “the bird is freed” tweet. BNB reached a monthly high of $318.80 today, its highest level since mid-August. One more prominent cryptocurrency’s recent outperformance may also be traced back to Musk. The DOGE/USD pair touched its highest levels since April, following a price movement pattern that began with Musk’s Twitter activity. DOGE, a Musk favorite, is still awaiting a wider usage application, potentially with his help. Featured image from Pixabay and chart from TradingView.com

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BNBUSD Binance Coin