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  • Binance coin is now the 8th largest cryptocurrency.
  • The upcoming competition may support the upside momentum.

Binance Coin (BNB) is an unquestionable leader of the market. The coins gained nearly 19% in recent seven days amid bearish market and moved to the 8th place in the global cryptocurrency rating compiled by CoinMarketCap. At the time of writing, BNB is changing hands at $11.64 with the market value of $1.6B.

Binance Coin was launched in 2017 via ICO. Since that time, the price of the coin has grown ten times. Moreover, it reached an all-time high against BTC at 0.00299880 BTC on March 1, while the record price against USD was registered on January 12, 2018, at $24.91.

Binance Coin is supported by a series of positive fundamental developments, including the launch of DEX platform and two successful ICOs carried out at Binance Launchpad. Moreover, Binance recently set a Prize fund in the amount of 10,000 BNB for its DEX traders with the aim to raise awareness about the platform.

The competition will start on March 7 and last until March 21. The winners will get their prizes in BNB tokens.