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Cryptocurrency News

Binance coin sets new all-time high as withdrawals are set to resume

Much of the crypto community had its eyes on the altcoins and especially Binance coin (BNB) today. CEO Changpeng Zhao kept everyone updated via Twitter about the progress of their system update, following last weeks hack. Praise was high for the professional, transparent manner in which information was continuously delivered. The update went to schedule as advised and planned, with a minor 2-hour delay this morning being the only hitch.

The only aspect left (and arguably the most important) before the update is complete is withdrawals, with CZ addressing this and informing us that this will be back as soon as the final tests were carried out. Should this play out as planned, it can be seen only as a win for Binance.

Although last weeks hack had surprised many, the manner in which it has been dealt has been impressive. Whether the “hack” was an inside job, or a genuine attack will probably never be revealed, however, users will have been put at ease at how smoothly the upgrade has been processed. This confidence seems to have been reflected via BNB coin. For the 3rd time in less than 2 weeks, a new ATH was created, this time at $29. With $30 a mere formality now, who knows what ceiling the bull market will have for Binance coin.

Binance image licensed via Shutterstock

 

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