Binance Coin (BNB) Leads Market-Wide Pump, Up 20%

Colin Muller

Cryptoasset prices today resumed positive price action, after taking a break from repeated breakouts during the month of February. Bitcoin (BTC) has, at time of writing, bounced off of an important uptrend support level, with all major cryptos participating in the gains. About $5 billion has returned to the market cap during the past 24 hours.

Binance Coin (BNB), which recently clawed its way into the #8 spot of overall coin market capitalizations, seems to have led the entire market.

Binance Coin (BNB) price chart

All told, Bitcoin is up about 5% from lows put in during the previous two days, currently sitting above $3,800.

Bitcoin Price Chart

Ethereum (ETH) has gained almost 10% in the past hours to $134, after threatening to break the $120 level during a significant fall from February highs. But the preeminent smart contract platform is still well below those highs, which breached $160 at one point.

Ethereum USD Price Chart CryptoCompareSource: CryptoCompare

Litecoin (LTC), however, has proved more resilient, almost completely regaining ground lost in the past week or so - matching the regional highs laid in during the bumper month of February.

Litecoin Price Chart CryptoCompare

Speaking on the Binance Coin, Binance's Changpeng "CZ" Zhao recently commented that "right now, the BNB token, probably has more use cases than most coins out there." BNB will soon migrate to Binance's proprietary blockchain, the "Binance Chain," where it will be a native token.