Binance Coin Now Among the Fastest Growing Cryptocurrencies, Enjoying 35.4% Increase in 24 Hours

Binance (BNB) may not be as popular as the cryptocurrency giant Bitcoin, but it does not mean that it is far behind in terms of price growth.

On January 5, 2018, BNB coin enjoyed a large boost of 35.4% within just a short span of 24 hours.

On the first week of January 2018, this digital currency has already marked up by 273.92%. The data from CoinMarketCap also shows that Binance coin has hit a market cap of $1,700,218,901 in US dollars as of press time.

There is no sign that this cryptocurrency is slowing down anytime soon in terms of market cap growth. In fact, its trading platform, Binance, has also shown significant growth despite being relatively new compared to Coinbase and other exchange platforms ahead of it. 

Its founder, Zhao Changpeng, is the former CTO of Chinese Bitcoin exchange platform called OKCoin. In an interview with CCN in December 2017, Changpeng highlighted that he “liked the borderlessness of cryptocurrency.”

When asked, why he launched Binance, he shares: 

“I had this idea back in 2013. I see two types of exchanges back then. There should be a handful of exchanges in each country, handling fiat to crypto exchange.

There would also be a handful of crypto-to-crypto exchanges around the world, handling the pure crypto conversion. After I joined, we discussed it at length. This vision has not changed much over the years.”

The speedy growth of Binance and its crypto coin is not all good news though. With the overwhelming growth, Binance had to temporarily shut its doors to new user registrations.

Citing the need to upgrade its infrastructure to accommodate more users in the future, the trading platform had to halt accepting new registrations.