There is strength in numbers and Binance Coin (BNB) has proven that time and again with its robust community of Bitcoin enthusiasts whose faith in the coin has always been its strong fortress.
- BNB surpasses 1 billion in terms of trading volume following network upgrade
- BNB price up by 2.04%
- Binance launches Binance Account Bond (BAB) for KYC verification
Recently, Binance rolled out the Binance Account Bond (BAB) token, it’s a token used to identify users of BNB that have successfully finalized KYC verification. The launch of BAB was announced via a tweet.
This latest update will allow users to present this as identity authentication and also for creating different projects and earning rewards on the platform.
Following the BAB announcement, BNB price has spiked by 6% in just over 24 hours making it one of the top cryptocurrencies according to market cap.
Binance Coin Upgrade Boosts Trading Volume
According to CoinMarketCap, Binance Coin price has skyrocketed by 2.04%, trading at $295.28 as of press time.
Additionally, trading volumes have also surged over 1 billion in sync with the latest upgrades. The Market Value Realized Value (MVRV) Ratio also increased accordingly and will continue to spike in the coming days.
Further, Changpeng Zhao, CEO of Binance, clarified in a tweet that the “BAB token holds no data or utility other than to signify that the wallet holder has passed KYC checks through Binance.” This may be the case for now.
Depend on CryptoCaster® every day for relevant crypto news, market, and emergent ecosystem information. In a bear, bull, or crypto winter market environment, CryptoCaster® will present information to our readers from vetted, reliable sources.
Binance Rolls Out New zkBNB
More so, the Binance platform also rolled out the new and revolutionized zkBNB which has the exact layer-1 security level that BNB Smart Chain has promoting secure building mechanisms.
A couple of BNB on-chain metrics show a bullish standpoint for the token. BNB’s upswing has also been significant, as it trades below $300.
Notably, there was an increase in development activities in the platform seen in the past couple of days which coincided with the latest upgrade on BAB which shows how seriously vested developers are into enhancing the network’s tech capabilities.
BNB, the native token of Binance, has seen unprecedented growth since its inception. The token is used mainly to take advantage of lower or discounted trading fees as well as for joining the Binance Launchpad.
The demand for BNB has been growing exponentially since 2020. And economics-wise or based on the law of supply vs. demand, the demand will always outnumber the supply.
Please Read Essential Disclaimer Information Here.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt