Binance Coin Surpasses 1 Billion Trading Volume After BNB Network Upgrade

Recently, Binance rolled out the Binance Account Bond (BAB) token, it’s a token used to identify users of BNB that have successfully finalized KYC verification. The launch of BAB was announced via a tweet. Following the BAB announcement, BNB price has spiked by 6% in just over 24 hours making it one of the top cryptocurrencies according to market cap. According to CoinMarketCap, Binance Coin price has skyrocketed by 2.04%, trading at $295.28 as of press time. Additionally, trading volumes have also surged over 1 billion in sync with the latest upgrades. The Market Value Realized Value (MVRV) Ratio also increased accordingly and will continue to spike in the coming days. Further, Changpeng Zhao, CEO of Binance, clarified in a tweet that the “BAB token holds no data or utility other than to signify that the wallet holder has passed KYC checks through Binance.” This may be the case for now.