Binance Coin (BNB) breaks above $27 for the first time ever

Binance Coin (BNB) has reached a new all-time high today, after its price broke above the $27 mark for the first time.

The digital coin enjoyed some strong trading over the past couple of days, benefiting from a wider digital currency rally and positive sentient ahead of Binance resuming deposits and withdrawals on its platform. But the token’s advance accelerated further today, lifting the BNB price to as high as $27.07 in recent trading. This was well above the coin’s previous price record of $25.53, which was set on April 20.

The rally was partly driven by Binance, the one of the world’s largest crypto exchanges, resuming withdrawals and deposits on its platform. BNB suffered a big hit last week after hackers managed to stole some 7,000 Bitcoins stored from hot wallets stored on Binance, following the incident, the company performed an overhaul of its security systems, which concluded with a system upgrade executed earlier today.

“Binance has completed its system upgrade and we will resume all trading activity at 1:00 PM (UTC),” Binance wrote in a blog post today, adding that it would be providing ‘VIP level ups and holding a 50,000 BNB giveaway” to “express our gratitude for the Binance community’s unwavering support”.

Also contributing to the rise of BNB are rumours that online auction website eBay could be adding support for crypto payments. Some have speculated that the online retail giant could make an announcement during this week’s Conensus conference, which ends today in New York.

In today’s trading, the BNB price stood at $27.03, as of 16:35 BST. The digital coin has gained 15.2% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin’s total market capitalisation currently stands at $3.8 billion, which makes the coin the seventh-largest digital currency on the market.

Featured image: Diego Ioppolo / Shutterstock.com

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