While the widest cryptocurrency market has decreased in the last 24 hours, one of the main tokens remained positive.
Binance Coin (BNB), the token associated with the world's leading encrypted exchange, is currently up 3% despite 94/100 of the currencies listed on AltDex 100 Index (ALT100) lower trading.
This relative strength was enough to push BNB over the two main altcoins, including Ethereum Classic (ETC) and NEO (NEO). In addition, with a market capitalization of $ 1.2 billion, BNB is within $ 210 million TRON (TRX).
The BNB price action could be partly attributed to the series of investments made by Binance Labs, the venture arm of the stock exchange. More recent being the investment of $ 2.5 million in TravelbyBit, an Australian provider of blockchain payments for the travel industry which plans to bring BNB forward as an alternative payment option at major airports.
BNB was one of the most performing tokens in 2018 and is currently growing by over 20% since the beginning of the year.
Other: AltDex 100 Cryptocurrency index
Similar: Binance will list the PAX / BNB Stablecoin exchange pair as an alternative to Tether
Photo: Marco Verch / Flickr
Disclaimer: the author of this article has participations in cryptocurrency that may be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct due diligence before making investments.