Binance's platform coin BNB reached $1,350 yesterday (7th) to set a new historical high. Although affected by the overall market decline, the current price of the coin has fallen back to around $1,285, but the increase in the past 7 days is still as high as 27%, the best performance among the top ten tokens.
As BNB continues to rise, its ecosystem is also receiving support. Recently, the meme-like coin "Binance Life" saw its market capitalization soar from zero to $350 million in just a few days, becoming the most popular speculative target in the BSC ecosystem.
Data Rush Launches on Binance Alpha
In addition to the strong boost from BNB, the listing of "Binance Alpha" also brought a new wave of imagination (becoming the first token to be listed with a Chinese name). An operator of the on-chain wallet 0x505...4e933 bought in early on and exchanged over $1.4 million for a cost of $124,000, an astonishing return rate in a short period of time.
Another Chinese KOL, delighted by the huge profits from this wave, wrote:
Thank you Binance Life, I bow to you as I step down
However, I would also like to caution that Binance Life lacks a solid foundation of applications, and its price is completely dependent on sentiment. If early holders take profits or community enthusiasm cools, the price could plummet. However, Binance Life's growth does reflect current market trends: the pursuit of explosive returns, community power, and a battle for liquidity.
For participants, the first lesson in dealing with such highly volatile assets is to clearly distinguish between speculation and investment and set a zero bottom line.
