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BNB Reaches ATH: Binance Cryptocurrencies Exceed $700!
11h28 ▪ 3 minute read ▪ by Luc Jose A.
Binance Coin (BNB), the native token of the world’s largest cryptocurrency exchange, recently reached all-time highs surpassing the $700 mark. This spectacular increase is not just a technical performance: it symbolizes the resilience and continued growth of the crypto ecosystem, even in the face of major regulatory and legal challenges.
BNB reaches unprecedented heights
The Binance coin (BNB), the native cryptocurrency of the Binance exchange, recently passed a major milestone by surpassing the $700 mark for the first time. This sudden surge marks a new all-time high for BNB.
BNB’s market capitalization also followed this upward trend, surpassing $100 billion. This impressive valuation now places BNB ahead of traditional giants such as UBS, Dell, Starbucks and many others. In terms of capitalization, BNB positions itself as one of the main players, not only in the world of cryptocurrencies but also in the global economy, compete with long-established companies.
A significant breakthrough despite Binance’s numerous legal and regulatory challenges
Despite its successes in the market, Binance faces significant legal challenges. The company has recently been embroiled in disputes with Nigerian authorities, resulting in the detention of some of its local executives. Binance is currently fighting for their release, but so far the efforts appear to have been unsuccessful.
Late last year, Binance had to settle with the US Department of Justice, agreeing to pay a fine of $4.3 billion to resolve allegations of non-compliance with anti-money laundering regulations, without admitting guilt. This agreement also led to a significant change in the company’s leadership: Changpeng Zhao, founder and then CEO of Binance, had to resign and was sentenced to several months in prison in the United States.
Despite these regulatory hurdles, Binance Coin has demonstrated remarkable resilience. While other cryptocurrencies, such as Bitcoin and Ethereum, have dominated the scene with record performances and the approval of new financial products, now it is BNB’s turn to capture investors’ attention.
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Luc Jose A.
Graduated in Science Po Tolosa and holder of a blockchain certification consultant issued by Alyra, I returned to participate in Cointribune in 2019. Capturing the potential of blockchain to transform numerous sectors of the economy, I have made a commitment to raise awareness and inform the great public about this constantly evolving ecosystem. My goal is to allow anyone to better understand blockchain and learn about the opportunities it offers. I strive every day to provide an objective analysis of current events, to decipher market trends, to convey the latest technological innovations and to put into perspective the economic and social efforts of this revolution in brands.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.