Yesterday Binance published a strange post on Twitter saying “2.0.” which could indicate the imminent arrival of margin trading. This is perhaps also the reason why the BNB token has risen by 10% today, increasing its marketcap by half a billion.
The sustained growth that Binance token (BNB) has experienced in recent months continues into May. Today alone, the cryptocurrency has increased its marketcap by half a billion and is now aiming for sixth place, occupied by Litecoin (LTC).
Until recently, the ATH (all-time high) of BNB was $24.50. In January 2019, the crypto was worth about $6, which means a loss of 75%.
However, it is important to mention that 2018 had been dubbed crypto winter, since the total marketcap of cryptocurrencies went from 800 billion capitalisation to about 100 billion in less than a year.
The growth of the Binance token (BNB)
2019 has certainly not been a year to forget, at least until now. On May 19th, BNB caused a stir after reaching a new ATH at $29. Today, May 21st, it once again overcome the highest price, reaching $32.8.
At this time BNB is worth about $31.8 and boasts a market capitalisation of $4.5 billion. It is currently one of the most attractive tokens for investors.
BNB is used both to obtain a discount on the exchange fees and on the Binance Launchpad, the service offered by Binance for the launch of IEOs.
— Binance (@binance) May 21, 2019
A mysterious tweet
There are several reasons why BNB is growing so much. The decentralised exchange (DEX) is certainly one of them. The development of the previously presented platform has certainly encouraged many investors to have faith in this solution.
Many expect DEX to be fully operational and functioning. However, there is also the topic of Binance’s margin trading which might be on it way.
The exchange has never offered leverage services (like Bitfinex for example) and users have always asked for this feature to be implemented.
The implementation of this feature is very much rumoured and discussed on social media: an image was shared where it is quite clear that the introduction of margin trading on Binance is only a matter of time.