Binance Coin (BNB) Rises to $438 – Blockchainreporter

For a short period today, Binance coin (BNB) clinched 3rd place ranking among cryptocurrencies by market valuation.

BinanceUSD is a stablecoin backed fully by U.S. dollars and approved by the New State Department of Financial Services(NYDFS). With Binance USD, you get faster methods for exchange.

It also helps with trading fees on Binance, hence a different use case than other stablecoins. What it means is that buying BUSD makes purchasing other assets on the platform cheaper. There are a lot of discounts that come with this providence.

Notably, Binance has also added staking support whereby you can earn interest on the crypto that you hold if you want to.

Binance, the largest cryptocurrency exchange in the world, announced that it doesn’t conduct any business in China. Investors had been selling its namesake coin over fears that it was exposed to the country’s crackdowns on cryptocurrencies.

Binance Coin’s functionality has expanded rapidly, ranging from validating transactions on the network for interest (staking) to borrowing and lending to powering decentralized exchanges of its own and more.

The overall market traded in the green over the last 24 hours. At the moment of writing price of Binance Coin is around 430 USD.

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