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Binance Launching AMM Shoots up BNB Coin Close to Its ATH

Highlights

    BNB Coin surges nearly 50 percent soon within a week, entering the top 5 cryptocurrency list

    Binance CEO CZ is speculated to pump up the BNB token to its highs

    The launch of Binance AMM is looked upon as a tough competition for the DeFi

BNB to Set New ATH Very Soon

The native token of Binance, BNB nowadays has managed to gather spotlight by surging at breathtaking speed. In the span of just seven days, the digital asset has managed to jump nearly 50 percent. 

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Currently, BNB coin is trading at $32.01 against USD with a positive change of 0.28 percent. However, the crypto followers anticipate the BNB price to shoot up to $50 very soon, setting new ATH.

Also Read: The Bitcoin Bull Run Speculated With Surge in Market Cap of This Stablecoin

Binance CEO CZ Behind The Surge?

Binance CEO Changpeng Zhao(CZ) recently launched a centralized Automated Market Maker(AMM) called Binance AMM. This would enable the Binance customers to trade with the DeFi tokens but on a centralized exchange.

Recently the whole crypto space witnessed a DeFi surge which skyrocketed almost all the tokens to the moon. This phase continued for 4-5 days before it plunged drastically. Therefore within a DeFi space, one can make huge profits and at the same time could encounter heavy losses too.

Amid the uncertain situation of DeFi, Binance launched centralized AMM which could bring most of the DeFi projects on this platform. Therefore the possibility of the crypto masses to shift their focus on BNB rises with accumulating maximum amount of BNB tokens. Hence, the BNB bull rally is expected very soon.

Also Read: Uniswap Delists Tokens in the Wake of Being Tricked by the Creators

Will Binance AMM Replace Ethereum’s DeFi Platform?

As said, the crypto masses who got blown away with the DeFi surge recently, tend to lose most of their funds. Additionally, the heavy gas fees on Etherum’s platform is the matter of concern for most of the DeFi token holders.

In a recent reply for the tweet by MoonBoiMarc, CZ said that more DeFi projects are welcomed and migration of DeFi projects could reduce the gas fees too.

Collectively, BNB has kicked started to go to the moon attaining heights very soon. The launch of Binance AMM is said one of the major reasons for the massive surge of the token. The world fifth-largest cryptocurrency could possibly outperform the other competitors also.

Also Read:Yearn Finance to Break Into a Bull Rally! YFI Price May Hit $100k

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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