Binance Coin price hits a new high of $600

On Monday, April 12, the price of Binance’s BNB token reached $600.

As of writing, BNB is trading near $610 (on Binance). According to CoinGecko, the token price is $595.68, with a market cap of $92.25 billion.

The asset rose 25.3% over the last 24 hours and 70.6% over the past seven days.

In autumn 2020, the Binance Chain launched the mainnet for Binance Smart Chain (BSC), enabling the creation of smart contracts and earning through BNB staking.

Analyst Ryan Watkins of Messari explained the advantages of BSC over the Ethereum blockchain as the magic of centralization, rather than ‘technological innovations’.