Upcoming BNB Token Burn Pushes Binance Coin (BNB) To All-Time High Of $ 564

The recent rally in Binance Coin prices came as Binance is set to burn 15 BNB tokens in a few days. The announcement was made by Binance CEO Changpeng Zhao. Over the past week, the price of BNB has risen by 61% from less than $350 to $560. At time of writing, the price of Binance Coin (BNB) is up 20%, reaching an all-time high of $564.

The Binance ecosystem and Binance Smart Chain are breaking new records every day. BSC hit a milestone last week with 5 mln daily transactions, 4 times more than Ethereum. Low gas charges at BSC and less network clutter have pushed several projects to move their base from Ethereum to BSC. In addition, the total value of Binance Smart Chain has also exceeded $30 bln.

With BNB making significant progress in recent years, BSC-powered DeFi projects such as PancakeSwap are also seeing significant growth. PankcakeSwap ($CAKE) has gained 52% over the past week and is currently trading at an all-time high of $24.7.

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