Binance coin update: BNB goes ballistic gaining 50% in recent seven days

Binance coin is now the 7th largest cryptocurrency.
The government of Argentina will finance Binance-supported blockchain startups.

Tanya Abrosimova Independent Analyst

Binance Coin (BNB) beats the market with unprecedented growth. The coin gained over 15% of its value in recent 24 hours and over 50% in the past seven days, which makes it one of the best-performing assets out of top-20.

At the time of writing, BNB is changing hands at $15.47 with the market value of $2.7B. The coin moved to the seventh place in global cryptocurrency rating, leaving behind Tether, Stellar and Tron.

Launched in 2017 via ICO, BNB managed to grow ten times and become one of the most popular coins. The upside momentum is supported by two successful ICOs launched on Binance Launchpad and the introduction of Binance DEX.

Recently, speaking at the AMA session at Periscope, the head of the exchange announced of one more token sale on Binance Launchpad

Also, the government of Argentina plans to invest in blockchain-startups supported by Binance Labs, venture capital branch of a popular cryptocurrency exchange Binance.

The local Labor Department announced the decision to allocate $50,000 to each Argentinian blockchain project supported by Binance Lab. Apart from that cryptocurrency exchange, LatamEX will also get financing within the second round of the incubator program.

The Department plans to support ten blockchain projects for four years, investing in them through the local blockchain accelerator Founder Labs.

Author

Tanya Abrosimova

Independent Analyst

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