The market is today posting negative returns following a strong pullback. A majority of top cryptocurrencies are down by more than 2%. One major coin has, however, remained up despite the bearish pressure, Binance coin (BNB). Binance coin has soared by more than 7% in the last 24 hours. This comes just days after Binance co-founder, Changpeng Zhao, hinted at a new product, Binance Cloud.
Binance Cloud Pushes BNB To Soar
At the end of last week, Changpeng Zhao commonly referred to as CZ Binance, held an ask-me-anything (AMA). In the session, the CEO answered a wide range of questions and enlightened the participants on top projects by the exchange in 2020. One of the highlights of the session was a hint of a new product to come in the next few days.
Few details were revealed by the exchange head. But the intent was clear. Furthermore, the company has an advertisement for a Senior Cloud Engineer. The candidate is expected to join the Cloud Engineering and Architecture Team. To further fueled the rumors, Zhao, shared pictures of clouds.
— CZ Binance 🔶🔶🔶 (@cz_binance) February 7, 2020
There have been further developments with the exchange such as the addition of Russian Rubles to buy crypto, the Initial Exchange Offering of WazirX and the launch of BNB futures in the last few hours.
All these developments mean success for the exchange and BNB. The exchange is poised for success in 2020 and as a result, its native token BNB has been surging and its demand has been on the rise.
— CZ Binance 🔶🔶🔶 (@cz_binance) February 10, 2020
BNB UP By 100% In 2020
At the time of writing this, BNB, the ninth-largest cryptocurrency by market cap is exchanging for just over $24. This after surging by over 7% in the last 24 hours. In 2020, Binance coin has gone up by more than 100% making it one of the best performing cryptocurrencies. The digital asset has climbed from lows of $13 to current highs of $25.
Binance Coin has an all-time high of $39 achieved mid-2019. In 2020, the digital asset might look to top this. Further, it will look to achieve a higher ranking in the crypto market. And with the strength and willingness shown by Binance exchange to stay ahead, this will not be hard.
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