Binance Coin (BNB) has seen a price increase of nearly 11% over the past 7 days, making it one of the most talked-about tokens in the crypto market. Currently, its price is predicted to range between $640 and $670. There are two main reasons behind this price surge:
Record Transaction Volume on BNB Chain:
The 24-hour transaction volume on BNB Chain has reached $12.5 billion, the second-highest in the chain’s history. This indicates the growing popularity and usage of BNB Chain, which has had a direct impact on the rise in BNB’s price.
Investment from UAE's MGX:
A $2 billion investment from UAE-based MGX has been allocated for the development and expansion of BNB Chain. This major investment has boosted investor confidence in BNB, making it one of the key factors behind its price increase.
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