Binance Coin (Symbol: BNBUSD) is the only top tier cryptocurrency that has returned profits to its investors in the first half of September.
The seventh-largest crypto by market capitalization was up by circa 17 percent, trading at $29.07 as of 1023 GMT, Tuesday. At the same time, other leading cryptocurrencies, including Bitcoin, Ethereum, and XRP, were trading 10-20 percent below zero.
At its month-to-date high, Binance Coin was trading at $34.05, up by almost 47.04 percent. The cryptocurrency’s surprising upside move came amidst growing demand for Binance Chain. The blockchain software system reportedly onboarded more users as its top rival, Ethereum, suffered from lethargic transaction times, high fees, and high transaction failures.
Binance Coin serves as the de-facto settlement token inside the Binance ecosystem, which covers its regulated trading platform, decentralized exchange, as well as its crowdfunding platform, and native blockchain. As the ecosystem attracts more users, it also enables further demand for BNB tokens.