The crypto market is mostly quiet on Wednesday except for Bitcoin SV and Binance Coin. The recent crypto winter may have strained the digital assets markets but the recovery is astounding. In the latest developments, Binance coin (BNB) broke above $30. The token is ranked among very few digital currencies to have hit an all-time high in 2019.
On Tuesday, BNB peaked at an all-time high of $32.68 amid a formidable bullish trend. Analysts, commentators, and investors remain eager to see the direction that the coin will take in the coming days. Some are already thinking that the coin may surge towards $40.
The market capitalization of the coin surged past $4 billion currently hovering around $4.449 billion. Currently, the BNB token is trading at $31.5 with around 10% gains in the recent 24 hours. According to the data published on CoinMarketCap, the virtual token has gained more than 30% in the past seven days.
For now, investors and traders are riding on the bullish wave that has hit the BNB market. Nonetheless, the fundamental reasons that account for the latest rally are not readily available for now. But some community members believe that the gains were caused by a tweet. The strange tweet in question featured a picture with a sign “2.0” leaving the community guessing its in-depth meaning.
— Binance (@binance) May 21, 2019
Some of the Twitter users think that the cryptocurrency exchange was ready to launch marginal trading. No official statement to explain that tweet has appeared so far but the community members think that it is some form of a highlight of developments to come.
The native token of Binance is gaining in spite of the recent massive hack attack that cost the exchange more than $40 million. Although the platform managed to recover and restore all its operations, users could not deposit or withdraw funds for almost a week. For now, the bulls are ruling this market. How high they go, only time will tell.