Binance Coin Price Scratched $32 – Here Is Why

The exceptional performance of Binance Coin (BNB) since the start of 2019 has had investors pay attention to the token. Several reasons could be attributed to the rise in the tokens price, including the launch of Binance Chain, Binance DEX, and token launches on Binance Launchpad.

The latter is especially interesting, given that a number of tokens launched on Binance Launchpad have seen exceptional gains, including Bittorrent Token (BTT), Celer (CELER), and Matic (MATIC). Users who purchased MATIC would have seen a multiplier of 17.11x, a stunning profit.

Seeing that such profits are possible on the platform, it could be the case that investors are rushing to buy BNB tokens in the hope that more such profit potential is to be found in the near future.

Not all in the cryptocommunity are pleased with the development, however. Some users, posting on Twitter, have questioned the quality of these tokens and the need to highlight price over usage,

Binance itself has hit $32 after recently hitting an all-time high price, and has gained 10% over the last 25 hours. Unfazed by the recent $40 million hack, the trend looks to continue for the token.