The vast crypto market saw a slight correction in the market capitalization and when writing it was $2.59 billion with an increase of 5.65%, and the Securities and Exchange Commission of the United States has got its new chairman, Paul Atkinson.
With this development, Binance also got regulatory clarity from the authorities in Bahrain; its BPay Global received approval from the Central Bank of Bahrain.
Binance continues to grow to capture the crown of the leader
In the year 2024, the business of centralized exchanges has reached a new height, with Binance leading the list in terms of spot trading, closely followed by exchanges like Bybit, OKX, KuCoin, and Others.
With the approval from the Central Bank of Bahrain the BPay of Binance came to offer fiat service for Binance users globally.
Following the green signal, the licensing Directorate at the Central Bank of Bahrain said, “ The CBB remains committed to enabling a dynamic and progressive payment landscape that aligns with global advancements in financial technology.”
It is worth noting that Bahrain remains positive towards the digital currency and has worked for the betterment of the crypto sector in the territories.
Binance holds more than 30 licences of different nations and most recently it signed a few agreements with the government of India to serve the nation with the highest crypto users base with fastest adoption.
Experts argue that the credibility and user base of Binance has helped it to get approval and license from the regulators globally, currently led by Richard Teng.
As per reports Binance was founded in 2017 by Changpeng Zhao and now holds top rank in terms of adoption, and in 2022 the revenue of the company was $12 billion.
According to data from CoinMarketCap the BNB coin was exchanging hands at $576.63 with growth of 3.45% in 24 hours time frame, and market cap was $82.16 billion and volume was $1.97 billion which is up by 10.3%.
In 52 weeks time frame BNB’s highest traded price is $644.87 and lowest traded price was $522.72 and till date it’s highest trading price is $793.35.
Crypto market price updates
Until publishing, the crypto market cap was $2.59 trillion with a surge of 6.22%, and the volume was above $150 million with an addition of 30.21%.
The crypto fear and greed index was at 25 indicating fading dominance of bears and the intraday gainers are Fartcoin, Flare, Bittensor, Sonic, Walrus, Hedera, Render, Ondo, Worldcoin, Kaspa and Sui, losers are Zcash, Tezos, Story, EOS, Four, Toncoin and TrueUSD.
