BNB Coin (Binance Coin) Trading Volume Crosses 1 Billion Mark After Network Upgrade
Binance Coin (BNB) is the flagship product made by one of the top cryptocurrency exchanges in the world. As a result, it also has a strong community behind it that continues to support it through thick and thin.
Recently, BNB achieved a new milestone by achieving a trading volume of 1 billion. This comes after the recent network upgrade of Binance Coin (BNB), which made several improvements and new changes.
BAB (Binance Account Bond) Introduced For KYC Verification
Binance has also introduced a new BAB (Binance Account Bond) token for its BNB coin. This token will be used for the identification of users who have completed their KYC verification. The announcement of BAB was made via a tweet from the company's official account.
Through the new update, users will be able to use it as a form of identity authentication. On top of that, it could be used for earning rewards and doing different projects on the platform.
After the announcement of BAB, the price of the BNB coin increased by 6% within a 24-hour trading period.
If we look at the trading volumes, it has also recently crossed the mark of 1 billion, which is a major milestone. As a result of this, the MVRV (Market Value Realized Value) has also jumped higher and will continue to do so in the next few days.
The CEO of Binance 'Changpeng Zhao' also clarified that the BAB token would not store any utility or data besides signifying that the holder has completed the KYC.
Recently, the Binance platform also introduced zkBNB, which offers a security level (layer-1) similar to that of the smart chain of BNB.
Considering how BNB is already in the top ten cryptocurrencies in terms of market cap, it seems that the new update will further cement the standing of BNB in the crypto community. There is also a good chance that it might jump 1 or 2 places higher as well!