Binance native token Binance Coin (BNB) has reached a new all-time high of $60. Recently, BNB has been pulling in gains and has advanced 40% since early January.
Since BNB began to pump in October 2020, the coin reached its first record high of $47 in mid-January. However, Binance Coin saw a correction after the spike, but has rebounded ever since.
Despite increases over the past month, BNB has started losing its position as one of the top 10 crypto assets by market value. The Binance Coin lost its position to DOT, LINK, ADA, and XLM before the recent rebound.
BNB is currently up 13.84% to $61.63. At the time of writing, the coin is ranked 9th by CoinMarketCap, having surpassed XLM and BCH.
In reaction to the BNB price surge, Binance CEO Changpeng Zhao said in a tweet:
“Stay calm. Don’t get overly excited. It’s just the beginning.”
According to a Cryptopotato report, the rise in the price of Binance Coin can be tied to the growth in the Binance ecosystem. Apart from this, Cryptopotato also stated that the 14th BNB burn may have fueled the price pump.
Notably, Ethereum also reached its all-time high of nearly $1,700.
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