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:
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:
- January 18: "Binance Launchpad to Start BitTorrent Token Sale on January 28"
- January 23: "Crypto OTC Services Now Available on Binance"
- January 24: "Trust Wallet 2.0: One App for All Your Crypto"
- January 28: "Binance Launchpad: BitTorrent Token Sale Results"
- January 31: "Binance Enables Credit Card Payments Through Simplex Partnership, Furthering Crypto Adoption Worldwide"
- February 15: As of this date, there were "153 cryptocurrencies available for trading on Binance, with 433 total trading pairs, after the addition of two new tokens and 27 new trading pairs."
- February 20: "Binance Launches DEX Testnet for the New Era of Peer-to-Peer Cryptocurrency Trading"
- February 25: "Binance Launchpad: Fetch.AI Token Sale Results"
- March 7: "Binance Launchpad Announces Next Project Details, Celer Network"
- March 12: "Binance's Trust Wallet Adds Support for XRP, Credit Card Payments"
- March 20: "Binance Launchpad: Celer Network Token Sale Results"
- March 20: "Binance Goes Down Under, Launches Cash-to-Crypto Service in Australia"
- March 24: "Update to the Binance Launchpad Token Sale Format"
- March 26: "Binance Partners with IdentityMind to Enhance Compliance and Data Security Measures"
- March 27: "Trust Wallet Now Supports Stellar Lumens, 4 More Tokens"
- March 27: Updated list of Binance Coin Use Cases
- April 1: "Binance Launchpad Announces ‘Matic Network’ as Next Project Under its New Token Launch Format"
- April 3: "Trust Wallet Prepares Staking Feature, Supports Tezos"
- April 11: "Binance Partners with CipherTrace to Further Strengthen Compliance Culture"
- April 16: "7th Binance Coin Burn"
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:
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:
Today marks the birth of a new genesis block.— Binance (@binance) April 18, 2019
Who's ready? pic.twitter.com/AF1hVtFXzt
.@Binance Chain launches its mainnet and plans to execute Mainnet Swap on Apr 23, 2019.— Binance DEX (@Binance_DEX) April 18, 2019
Please see the below link for further details on the actions that will occur along with the planned timings for them to do so. 👇👇👇https://t.co/32hjBwkUcX pic.twitter.com/X9qAoXxYmc