Binance Coin (BNB) has once again reached a new all-time high amid a general rise in the popularity of altcoins, spurred by market activities and the declared start of the altcoin season.
Record Growth of Binance Coin
Binance Coin (BNB) surged to a new all-time high of $772.97 before sliding back to around $760. Previously, the maximum price was $707.02.
Exchange Trading Activity
Trading volumes for BNB have reached record levels in 2024, exceeding $5.49 billion. The current activity covers about 5% of all circulating BNB, making it a potential competitor to Ethereum (ETH).
Role of Decentralized and Centralized Exchanges
Despite the growing activity in Web3 and decentralized exchanges, centralized exchanges remain the main trading venues. Binance continues to lead in trading volumes and the introduction of new tokens. Decentralized exchanges like PancakeSwap still play a significant role despite the presence of bot attacks.
BNB has reached new highs amid increased market activity and the declared altcoin season. Binance continues to lead with the number of users and trading volumes.
