Binance Coin (BNB) Overtakes Ethereum Classic (ETC) and NEO

Marco Verch / Flickr
Voyager
Voyager

While the broader cryptocurrency market has traded down over the last 24 hours, one major token has remained positive.

Binance Coin (BNB), the token associated with the world’s leading crypto exchange, is currently up 3% despite 94/100 of the coins listed on the¬†AltDex¬†100 Index¬†(ALT100) trading lower.

This relative strength has been enough to push BNB past two major altcoins, including Ethereum Classic (ETC) and NEO (NEO). Additionally, with a market cap of $1.2 billion, BNB is within $210 million of TRON (TRX).

AltDex 100 Index

BNB’s price action could be partially attributed to the string of investments made by Binance¬†Labs, the exchange’s venture arm. The most recent being the $2.5 million investment in¬†TravelbyBit, an Australian blockchain payments provider for the travel industry that plans to bring BNB forward as an alternative payment option in major airports.

CoinCodex

BNB has been one of the top performing tokens in 2018 and is currently up over 20% YTD.

More: AltDex 100 Cryptocurrency Index
Similar: Binance Will List PAX/BNB Stablecoin Trading Pair as an Alternative to Tether
Photo: Marco Verch / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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