Just How Did Binance Coin (BNB) Manage to Go Up in Value Over 236% in 3 Months?

On Thursday (April 18), the very strong Binance Coin (BNB) price rally that started roughly three months ago continued, with Binance's announcement about the mainnet launch of Binance Chain causing the token's price to increase another 12% to $21.78, bringing it even closer to its all-time high of $24.46 (reached in January 2018).

Let's start by looking at the three-month price chart for BNB:

BNB - Three Month CC Chart - 18 Apr 2019.png

According to CryptoCompare, BNB-USD went up from $6.48 on January 18 to $21.78 on April 18, i.e. an increase of over 236%.

What is behind that this highly impressive performance?

In short, tons of good news about Binance! Here are the main highlights:

Now, to get a better idea of the effect of today's announcement about the launch of the Binance Chain mainnet, we need to look at the 24-hour price chart for BNB:

BNB - 24 Hour CC Chart - 18 Apr 2019.png

The two big spikes you see in this chart, one around 07:00 (UTC + 03:00) and the other around 16:00 (UTC + 03:00) correspond to the following tweets from the Binance account:

 

Featured Image Credit: Photo by "xresch" via Pixabay.com