Binance Coin price hits new high above $650

On Monday, May 3, the Binance exchange’s BNB token reached a new high trading above $650.

At the time of writing, the token was trading around $651. The project’s market cap surpassed $100 billion for the first time, according to CoinGecko.

The asset rose 5.2% over the past 24 hours and 28.3% over the past seven days.

In April 2021, Binance carried out the fifteenth quarterly token burn. 1,099,888 BNB were taken out of circulation ($595 million at the time).

In the same month, the crypto exchange suspended Binance Coin withdrawals amid record on-chain activity and heavy load on the platform.

On May 1, BNB’s price reached an all-time high of $645.