By Mark Ackman
Binance Coin (BNB) has recently earned its spot among the top-performing cryptocurrencies in the past 24 hours. The native token of Binance, the largest cryptocurrency exchange, has been moving on the upper trend line.
The major reason behind BNB’s positive movement is the expansion that the exchange has been going through. The exchange is expanding its jurisdiction and business all over the world, strengthening its native token in return.
BNB Moves in Upward Movement
Even at the current time, BNB continues to rise and is trading at $292.11 per BNB. The graph shows that the price of BNB has recorded a 0.20% surge in the past 24 hours.
It is worth mentioning it is not the past 24-hour performance that is impressive but it is the past 7-day performance that has recorded a 6.95% surge.
After witnessing a significant push in the past 7-days, the investors have high hopes for the trend to go on in a positive direction.
Apart from the macroeconomic downtrend, there is no other factor that may impact BNB in a negative manner.
BNB is destined for a Bullish Run
Binance Coin has a lot of luck backing it up because Binance is determined to gain worldwide recognition and that brings BNB to the center of all of it.
Despite running operations in almost every part of the world, the exchange is after micro-expansion. The exchange not only wants to expand to regions or continents, but it also wants to expand to every country in the world.
Binance Expands to Many Countries
This ambition is providing the exchange with enough confidence to grow its roots in every single country in the world.
The exchange has also begun to execute its plan in the best possible way. The exchange recently announced that it started offering cryptocurrency services and products in Japan.
Although the exchange was previously offering services in Japan it had to discontinue due to regulatory pressure. Now, the exchange has continued its services in Japan after acquiring proper regulatory approval.
Apart from Japan, the exchange has also expanded its services in New Zealand following approval from the local regulatory authority.
The exchange has also expanded its jurisdictions in the Latin American region. It has opened two offices in Brazil and also did the same in Ireland.
BNB to Benefit from the Expansion
Binance exchange has been undergoing expansion in a very calculated manner, as it is expanding itself after acquiring regulatory approvals.
The greater the network grows for the exchange, the more use would come to Binance Coin being the native token on the exchange. This would eventually help boost the trading price of Binance Coin.