The Binance Coin (BNB) is the native token of the crypto exchange Binance. Recently, the coin had already attracted attention when it overtook IOTA in the total market capitalization. Thus, the BNB Coin displaced IOTA from 12th place. Meanwhile, the Binance Coin has worked even further and now occupies the tenth place on the list of the largest cryptocurrencies by market capitalization. On a weekly average, the coin increased by up to 44.5%.
Why has the price of Binance BNB gone so high?
The main reason for the recent increase is the announcement of a new token sale via the in-house “Launchpad”. The Launchpad is a Binance-provided platform for publishing new tokens. Young projects can apply to Binance for admission. When Binance accepts a project, the crypto exchange supports the project with cryptos as well as advice on many levels. At the end, then, the listing and the token sale on Binance. This is a win-win situation for both sides. Binance is the first crypto exchange to offer the new tokens, thus promoting its core business. At the same time, small teams and projects get the necessary jump-start to possibly create a new success-coin.
Binance and its successful launchpad projects
In early January, Binance had already successfully completed the token sale of the BitTorrent token BTT. The sale was even such a success that it was completed in 15 minutes. In addition, Binance carried out an airdrop, distributing 5,000 bit-torrent tokens. These were given to selected investors who could not participate in the main sale.
Therefore, it is not surprising that the new project also met with great interest. The project is named “Fetch.AI”. It is a decentralized blockchain network controlled by artificial intelligence. The economic activities are carried out by so-called “autonomous economic agents”. These are digital units that can do transactions without human intervention. At the same time, agents can embody themselves, devices, services or individuals. The goal of the project is to offer use cases for hospitality, transportation, energy and supply chains. According to Binance, the token sale of Fetch.AI is scheduled to begin on February 25.
The structure of the Launchpad is reminiscent of Ethereum, whose native token ether underlies many Initial Coin Offerings (ICO) projects. This is no coincidence, as the Binance coin is an ERC-20 token and is based on the Ethereum Blockchain.
> How are the other coins developing?
Most other Coins did not perform as well as the Binance Coin in recent days. Bitcoin, the largest cryptocurrency by market capitalization, was down 1.52% in 24 hours at the time of writing. Ethereum and Ripple XRP lost 2 to 3 percent.
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/coin-der-kryptoboerse-Binance-bnb-steigen-um-ueber-44-an-neues-launchpad-angekuendigt/
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