BNB Price Booms, Rises Nearly 20% to Over $350

BNB Chain Price, Performance

The price of BNB coin surged to over $350 in the first few days of November. The rise continues a month-long trend that has seen the token grow nearly 20% in the last week, according to Coin Gecko.

The Total Value Locked (TVL) on BNB Chain has also grown significantly during the same time. According to DefiLlama, the TVL has surpassed $6 billion for the first time since June. This represents a 12% increase in the past week, as well as over 14% in the last 30 days.

The rise of BNB cannot be attributed to just one event. Binance has been in the news lately with a $500 million commitment to Elon Musk’s Twitter acquisition. Binance CEO Changpeng Zhao (CZ) has also been quoted as looking to make more investments to grow the Binance portfolio, including traditional banks. It is known that Binance has a war chest of over $1 billion to spend.

PancakeSwap also saw an increase in TVL after the project deployed onto the Aptos chain. The most dominant project on BNB Chain has seen a 12% growth in TVL in the past week. The price of PancakeSwap’s native token $CAKE also rose over 7% in the past week. The price of CAKE still flounders below $5, however, according to Coin Gecko.

What is BNB Chain:

Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.

Find more about BNB Chain here:

Website | Twitter | Discord | Telegram | GitHub |

What is PancakeSwap:

PancakeSwap is a Decentralized Exchange (DEX) built on BNB Chain. It offers users various features such as Liquidity Pools, Swapping, Yield Farming, Syrup Pools, Automated Market Maker, Initial Farm Offering (IFO), NFT profile system, and many others.

In addition, the protocol helps users make the most out of their crypto assets by trading, earning through yield farming, and winning via lottery, prediction, and NFT collectibles. With the highest trading volumes in the market, PancakeSwap is the leading DEX on the BNB Chain.

Where to find PancakeSwap:

Website | Twitter | Medium | GitHub