*Binance Coin (BNB) - Bullish Explosion! New All-Time High of $711.56 as Trading Volume Surges and Upgrades Fuel Price Rally!_
Here are some reasons why Binance Coin (BNB) reached an all-time high of $711.56 on June 5, 2024:
- Increased activity on Binance’s Launchpad and Launchpool platforms.
- A noticeable rise in trading volume to over $4 billion in the past 24 hours.
- Strategic options trading, with many securing put options with strike prices between $550 and $650 as a hedging strategy against potential price drops.
- Binance launched the Trading Volume Incentive Program to boost trading activity and reward participants, with a potential prize pool amounting to $250,000.
_BNB Chain Upgrades Fuel Price Surge_
- The implementation of the Proposer-Builder Separation (PBS) model in BNB Chain and the adoption of BEP 322 to address Maximal Extractable Value (MEV).