Binance Coin (BNB) reawakened with an 11% gain overnight, breaking above the $380 range. Expectations for revisiting the $400 range may become one of the drivers for BNB. BNB traded at $373.72 later on Thursday, on volumes above $2.7B in the past 24 hours.
BNB also rises following the overall market recovery. Bitcoin (BTC) prices regained positions above $43,000, starting to increase confidence in other projects and tokens. Binance trading remains one of the significant drivers of price discovery and growth.
The next week may add upward pressure on BNB leading up to another Launchpad token offering. Binance Launchpad was highly active around 2019, producing many of the DeFi platform projects.
It has been months since Binance Launchpad incubated a project and organized a token sale. The next offering will be Beta Finance, a decentralized money market for lending, borrowing and a short selling mechanism. With this project, Binance Chain and Binance Smart Chain will be expanding their DeFi ecosystem.
Participating in Launchpad offerings requires the ownership of some BNB, as a retainer to participate in the token distribution. Read Full Story
Story Highlights:
- Binance Launchpad Event Sparks Demand
- Can BNB Recover TVL?
- BSC Activity Keeps Up the Pace
- BNB Gets Boost from NFTs
- What are the Risks for BNB?
- BNB Holdings Relatively Centralized
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