The token of the largest cryptocurrency exchange, (BNB), has reached a new all-time high after weeks of anticipation amid a slow upward trend.
The renowned digital currency broke its previous all-time high of $686, which it held for over three years. In the past few hours, the new price reached $716, while the coin was trading at $708 at the time of writing, marking a 12.5% increase in the last 24 hours.
This rise coincides with BNB surpassing the critical resistance level of $618, which had been preventing further gains. BNB’s market capitalization now exceeds $100 billion, making it the fourth largest cryptocurrency by market cap, surpassing companies like UBS Group AG (NYSE:), Dell (NYSE: NYSE:), and Starbucks (NASDAQ: NASDAQ:).
Interestingly, this new all-time high comes as Binance’s founder and former CEO, Changpeng Zhao, also known as CZ, began his four-month prison sentence on Monday. He was incarcerated in a federal prison in California for violating…
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