CandleFocus

Binance's BNB Token Hits All-Time High as Bitcoin and Ethereum Alts Swell

The price of the Binance Coin (BNB) has surged by 8% and reached a new all-time high of over $788. BNB is used for various purposes, including trading fee discounts, transaction fees, staking, and participation in token sales. Ethereum Classic (ETC) and Bitcoin SV (BSV) have also seen significant gains, reaching heights not seen since March and April. Bitcoin Cash (BCH) has risen by 12% over the last week. These tokens originated from Bitcoin and Ethereum hard forks, resulting from disagreements over project direction and philosophy. However, some experts believe that the recent rally in older tokens is more akin to the price action of meme coins. They expect these tokens to eventually return to historical averages as capital moves into projects with stronger fundamentals.

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