The BNB token soared in price by 25% after the announcement of the imminent launch of its own blockchain Binance

BNB, the native token of the Binance cryptocurrency exchange, demonstrated on Tuesday, December 4, a rapid growth after the head of the company Changpeng Zhao announced the imminent launch of his own blockchain platform called Binance Chain.

He made the corresponding statement during the “Decrypting Blockchain for Business” conference organized by Forbes Asia magazine.

Asia's wealthiest families gather to learn the blockchain: https://t.co/y0Es32vMwt by @DelRayMan with @ForbesAsia and @ForbesCrypto #ForbesBlockchain pic.twitter.com/f0L7C9tftV

– Forbes Crypto (@ForbesCrypto) December 4, 2018

It is noteworthy that Zhao’s words about the upcoming launch of Binance Chain did not appear in the report about the conference, which brought together many major Asian investors. However, the author of the material Michael del Castillo posted them in his Twittet:

Are launching the Binancechain for We very soon's, in a couple months or SO, and you will of the BE Able to issue tokens on That … .I of think there will of the BE Millions of coins and Thousands of blockchains. » @Cz_binance AT @ForbesAsia #ForbesBlockchain @ForbesCrypto the pic .twitter.com/az5H62Pgdm

– Michael del Castillo (@DelRayMan) December 4, 2018

“Very soon, in about a couple of months, we will launch the Binance Chain, and you will be able to issue tokens on it … I think there will be millions of coins and thousands of blockchains,” he quotes the head of Binance.

The fact that Binance is working on its own public blockchain, it became known in March of this year. At the same time the stock exchange reported that a decentralized stock exchange would be created on the Binance Chain.

In August, Changpeng Zhao showed a demo version of the future decentralized exchange from Binance. However, it was not mentioned during today's conference.

Be that as it may, the speech of the head of Binance led to a sharp increase in the BNB token, which in a few hours rose in price above $ 6.30, demonstrating an increase of more than 25%. Day ago, the token was trading at $ 5.04. A noticeable increase in the price of the token with respect to BTC also draws attention.

Earlier, BlockchainJournal reported that from December 4 to December 11, Binance, in collaboration with the virtual world, will hold a MANA bidding contest, in which traders will share the prize fund of 1,875,000 MANA.

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