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The biggest news of this week was undoubtedly the launch of the binance chain, the new blockchain platform that will fuel Binance's decentralized exchange (DEX) and other major initiatives.
As a result of this news, Binance Coin (BNB) became the first large-cap cryptocurrency to hit new all-time highs on Friday, exceeding the levels last recorded in the bull market at the end of 2017 after gaining about 300% this year. Interestingly, according to Messari data OnChainFx, Maker (MKR) and Bitcoin (BTC) are the next closest to reach their highest records of last year, but both are still far away.
BNB's price action was so strong in 2019 that it helped propel the AltDex Exchange Token Index (ALTEXC), a digital asset index that tracks the token category, in positive territory for the first time since the index launched in July 2018.
In the future, Binance Coin will likely continue to benefit as projects align with IEO on the platform. The additional impact of the launch and migration of parts on the new blockchain should give a positive boost.
bookmarked.
– CZ Binance (@cz_binance) April 19, 2019
Shortly after its launch, a number of projects have already announced their intention to migrate to Binance Chain, including: Mithril (MITH), which jumped up more than 60% on news.
Binance Coin is currently up 8.5% on the day at $ 24.08, giving the largest exchange token a market capitalization of $ 3.4 billion.
More: Messari OnChainFX
Related: Binance has quietly removed Wall Street jargon from Wall Street jargon.
Warning: The author of this article has holdings in cryptocurrency that can be followed here. This article is for informational purposes only and should not be considered as investment advice. Always do your own due diligence before making any investments.
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