Prominent cryptocurrency exchange Binance has witnessed a tumultuous couple of years. From increased scrutiny from law enforcement to Changpeng Zhao stepping down, the platform has seen it all. Despite this, the price of its native cryptocurrency Binance Coin (BNB) remained quite stable. The asset even went on to outperform several other coins in the market to secure notable gains. `
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Can Binance Coin Mirror 2024’s Rally This Year?
BNB was certainly a top performer in 2024. The asset went from trading at a low of $315.93 all the way to a high of $793.35. The altcoin has been recording increased volatility over the past couple of weeks. BNB caused chaos after it dipped below the $600 mark. Throughout the past week, the altcoin has dropped by nearly 15%. At the time of writing, BNB was trading at $583.51 following a 0.98% rise.
Despite this, Binance’s growth as an exchange hasn’t stopped. The firm remains one of the biggest cryptocurrency exchanges with more than 100 million customers. In addition, Binance has a notable market share. This could push the price of Binance Coin or at least keep it stable.
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Mid-February Price Prediction
According to CoinCodex, Binance Coin might increase by up to 15.67% in February, reaching an average price of $675.83 for the month. The range of the expected price variation is between $584.72 and $745.22. When compared to the present price, this trend can provide a potential return of 27.55%. But the firm revealed that BNB will surge beyond the $600 mark during the next couple of days. On February 15, the altcoin will trade at a high of $613.40. This marks a 4.89% rise from its current price.
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