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Binance Coin $BNB hits Yearly ATH Amid Launch of Its Own Swap Platform

Binance Coin (BNB) has hit a 52-week high following the launch of its BSwap platform, an Automated Market Maker (AMM), on 4th September.

  • BNB’s price stands at ~$33 at the time of publishing, up from the roughly $21 valuation before the announcement of BSwap
  • The BNB token is not far from its all-time high of $39.57, which occurred in June 2019
  • BSwap aims to compete with the likes of Uniswap, the DeFi market’s most popular platform for swaps
  • Officials have stated that the AMM feature is intended for users who prefer to operate on centralized exchanges
  • Like other AMMs, users can add assets to these pools, for which they will receive a portion of the trading fees plus interest
  • Binance Swap currently offers the following pairs: USDT/BUSD, BUSD/DAI and USDT/DAI

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