Binance Coin hits 52-week high following Binance Chain announcement

19 Apr, 2019 | Updated: 19 Apr, 2019
by Richard Allen
News
Binance Coin hits 52-week high following Binance Chain announcement

Binance’s native cryptocurrency, Binance Coin has hit a new 52-week high, up 81.49% from its 52-week low of $4.19. As a result, the project is now close to retesting its all-time high of $24.91, achieved on January 12, 2018.

The price increase comes as a result of an announcement Binance made yesterday, confirming the release date of its mainnet launch to be April 23. The exchange will integrate its decentralized exchange into the Binance Chain. Additionally, Binance will allow new projects to launch their tokens on its chain, allowing them to run ICO rounds by raising funds in BNB.

Following the launch of Binance Chain, it’s likely we’ll see BNB reach even greater adoption. With that being said, however, Binance undergoes a token buyback event every quarter to reduce the BNB in supply. Long term prospects are looking good for BNB investors.

At the time of writing, Binance Coin is trading $23.89, an increase of 10.69% over the last 24 hours.

Chart provided by Tradingview

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Read more about: Binance Coin (BNB)

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