Why Binance coin is going up?

Last Updated on February 21, 2021 by Ruholamin Haqshanas

The Binance Coin (BNB) cryptocurrency is showing an aggressive rally in the middle of this week, having risen in price by almost 40% over the past 24 hours and almost 100% in the last 7 days.

The native token of one of the world’s largest cryptocurrency exchanges is astral planing above new heights.

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Binance Coin (BNB) is having its time in the sun, up 50% and trading at around $294, thanks to increased interest in decentralized exchanges and a relatively new decentralized finance (DeFi) project known as PancakeSwap.

The DeFi project has flipped its doppelganger Uniswap, as Binance’s CEO Changpeng Zhao noted on Twitter a short time ago.

What is next for BNB (binance coin)?

Predicting the future prices of these or that cryptocurrencies is not an easy task. We can learn a lot from the past rises and falls of certain coins but many circumstances influencing the market are barely predictable. 

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It doesn’t mean that the prices can’t be predicted at all because some of the upcoming events are highly probable. For instance, we are witnessing a cryptocurrency resurgence and know about the upcoming long global economic crisis. 

These factors are supposed to fuel the cryptocurrency market in general and will definitely influence the price of Binance Coin in a certain way. We only should consider some other factors.

The overall future of Binance Coin looks bright as this asset is associated with the most successful cryptocurrency exchange in the times when cryptocurrencies get popular and sustain value better than many fiat currencies affected by the financial crisis which is not going to end very soon.

While the current volatility stops us from predicting BNB price, we will closely monitor the market and update the situation as soon as there seems to be a pattern.

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