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News$BNB Breaks $600, Leading Strong Exchange Token Rally in 2024

$BNB Breaks $600, Leading Strong Exchange Token Rally in 2024

Mar 14,2024,01:05

$BNB, the native token of major cryptocurrency exchange Binance and also the native token of BNB Chain, has surpassed $92 billion market cap, ranking as the fourth-largest crypto token (after BTC, ETH, and USDT). Data shows that in the year-to-date period, $BNB has seen its value surge over 90% — the best performance compared to other tokens of major trading platforms.

$BNB has outperformed its peers so far in 2024, registering the largest price increase among exchange tokens and also leading gains among native tokens of public chains.

Although $BNB saw a decline in the latter half of 2023 amid regulatory headwinds for Binance last year, its price started to pick up, fueled by positive market sentiment and the accelerated pace of new project launches on Launchpool since December 2023. $BNB has broken above the $600 mark, and is showing strong momentum in 2024 due to positive market sentiment and effective operation under the new leadership.

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