Binance coin (BNB), the token released by the world's largest cryptocurrency exchange Binance, is flashing green for the second day.
Having scored BNB's bitcoin (BTC)-denominated exchange rate (BNB/BTC) rose to a lifetime of 0.002287BTC at 10:45 UTC today and was last seen changing hands at 0.0022BTC on Binance.
Meanwhile, binance coin-US dollar (BNB/USD) exchange rate hit a 5.5-month high of $17.60 on Binance and traded at $16.74 at press time - up 15 percent in the last 24 hours.
Its market capitalization also rose to a five-month high above $1.90 billion, making it a 17th largest cryptocurrency by market capitalization.
Further, the rally is backed by a 155 percent rise in trading volume in the last 48 hours, so the stellar gains look sustainable.
A detailed look at the individual markets reveals the BNB/BTC pair and binance coin-tether (BNB/USDT) pair account for more than 85 percent of the total trading volume of $0.148 billion seen in the last 24 hours.
Clearly, the sharp rise in BNB/BTC seems to have pushed up BNB's USD-denominated exchange rate.
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