Upcoming BNB Burn Pushes The Cryptocurrency To $570

• A massive price rally of the Binance coin (BNB) has caused investors and holders to gain greatly

• Along with today’s rally, BNB has provided more than 1200% return in 2020.

• The recent price surge is driven by the 15th BNB burn, which is set to happen in a few days

Holders and Investors in the Binance coin (BNB) will have good reason to smile today.

In the last 24 hours, BNB has surged more than 22%, reaching a new all-time high of $578.

This rally brings the total year-to-date gains of the cryptocurrency to 1200%.

The current price rally of the Binance coin is driven by the expectancy of the BNB burn which is set to happen in a few days.

The CEO of Binance, Changpeng Zhao (CZ) announced the BNB token burning earlier today.

“When you burn coins, they are taken out of circulation forever. It increases the value of the remaining coins. #BNB in a few days! Not financial advice!”

BNB is the cryptocurrency of the Binance Smart Chain(BSC), a major rival of Ethereum(ETH).

BNB has been closing the gap on ETH in recent months and it is now worth 1/3 of its rival in market cap.

Read also: Akon Plans To Build 2nd Crypto City In Africa

Only last week, 5 million transactions were completed on the BSC, 4 times that of Ethereum.

The low gas fee of the Binance Smart Chain makes it a great alternative to Ethereum and many projects have been moved from the latter to BSC.

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