Binance Chain Launches, BNB Close to All-Time High

Popular cryptocurrency exchange Binance has launched the mainnet of its proprietary blockchain Binance Chain. As part of the Binance Chain Mainnet Swap, its native cryptocurrency Binance Coin (BNB) will be migrated to its own blockchain on April 23, 2019.

BNB currently exists on the Ethereum blockchain as an ERC-20 token. This will be changed to Binance Chain-based BEP2 standard. Binance will not support the withdrawal of the ERC-20 BNB token after April 23rd.

In addition, Binance also announced that they will launch their fiat-to-crypto exchange in Singapore next week. The exchange had first hinted at its Singapore plans in September 2018. The exchange had also completed its seventh quarterly BNB burn recently.

Following these positive announcements, cryptocurrency investors have lapped up BNB in anticipation of the increasing utility of BNB in their DEX. BNB is also the only coin accepted for token sales on the Binance Launchpad.

BNB is currently trading at $22.81, up 8.9% in the last 24 hours. Its all-time high is $24.46 which it had reached in January 2018.

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