Binance Coin Hits Record High Against Bitcoin

Binance coin, the token launched by the world's largest cryptocurrency exchange, has hit an all-time high against bitcoin.

AccessTimeIconJun 6, 2018 at 2:15 p.m. UTC
Updated Sep 13, 2021 at 8:01 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Binance coin

(BNB), the token launched by the world's largest cryptocurrency exchange Binance, has hit an all-time high against bitcoin.

BNB achieved the new milestone of 0.002287 BTC at 10:45 UTC Wednesday, and was last seen changing hands at 0.0022 BTC on Binance, up 8 percent since yesterday.

bnb

The sharp rally pushed BNB's market capitalization to a five-month high above $1.9 billion, making it the 17th largest cryptocurrency by market capitalization.

Further, the rally is backed by a 155 percent rise in trading volume over the last 48 hours, so the stellar gains look sustainable.

Meanwhile, the binance coin-U.S. dollar (BNB/USD) exchange rate hit a 5.5-month high of $17.60 on Binance and was trading at $16.74 at press time – up 15 percent in the last 24 hours.

A detailed look at the individual markets reveals that the BNB/BTC and binance coin-tether (BNB/USDT) pairs account for more than 85 percent of the total BNB trading volume ($0.148 billion) seen in the last 24 hours.

Balloon image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.