Binance Coin just set yet another new all-time high today, taking out resistance set back in 2019.
With the resistance level now cleared and potentially flipped to support, what are the likely targets for the native exchange token?
Binance Coin Breaks Out Alongside New User Surge
Binance made its debut just ahead of the last crypto bull market came to a conclusion. Bitcoin was quickly approaching $20,000 and altcoins everywhere were soaring.
Because the young crypto exchange was known for the largest list of exotic altcoins, alt season was especially good to the budding brand.
Binance spent the entire crypto bear market building on its brand, and becoming an innovator and leader in the space.
Related Reading | Here’s The Line Separating Bitcoin Dominance From Altcoin Season
The company introduced initial exchange offerings, and was among the first exchanges to introduce its own native cryptocurrency token, Binance Coin, aimed at reducing trading fees, offering voting power, and a variety of other benefits for holders.
As one of the few tokens with real utility and in active use today, it has held up well and was able to set a new all-time high in 2019. But after that peak was when the exchange was forced to spin off its US operations, and some of the platform’s dominance has since diminished.
IEOs mostly fell …
