With its large community of Bitcoin enthusiasts, Binance Coin (BNB), has proved that strength is in numbers.
- BNB’s trading volumes surpass 1 billion after network upgrade
- BNB Price up 2.4%
- Binance releases 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. BAB launched via tweet.
Users will be able to show this authentication as well for creating new projects and earning rewards.
BAB price has risen by 6% within 24 hours of BAB’s announcement. This makes BNB one the most popular cryptocurrencies, according to market capital.
Upgrade Binance Coin to Boost Trading Volume
Based on CoinMarketCapBinance Coin prices have risen by 2.04% to $295.28 at press time.
In line with recent upgrades, trading volumes also jumped to over 1,000,000. In line with the latest upgrades, the Market Value Realized Valu (MVRV), Ratio has also increased and is expected to continue rising in 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.
Binance Rolls Out New zkBNB
Binance also launched the revolutionary zkBNB, which is the same layer-1 security level as BNB Smart Chain for building secure mechanisms.
BNB’s on-chain metrics indicate a bullish outlook 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.
Chart: CoinMarketCap
Since its creation, Binance’s native token, BNB has experienced unprecedented growth. It is used for trading at lower rates or joining Binance Launchpad.
Since 2020, the demand for BNB is growing at an exponential rate. Economically, or according to the law supply vs.demand, the demand will always exceed the supply.
BNB could skyrocket to surpass its ATH by 2021, particularly with the onset a raging bullmarket.
Source: TradingView.com| Source: TradingView.com Featured Image from Blockchain News. Chart from TradingView.com