Binance Coin (BNB) Hits New Record High of $1,108!

Binance Coin (BNB), the native token of Binance exchange, has reached a new all-time high, surpassing $1,108, according to recent market data. This surge comes after a 7.27% increase in value over the last 24 hours. The rise is attributed to BNB’s versatility within the Binance ecosystem, including its use for trading fees discounts, staking, and participation in Launchpad projects. 2.68 billion USD worth of positions were liquidated in this period across different exchange markets like Binance and FTX. 70% of these positions were short-selling, suggesting market sentiment is shifting towards bullishness.