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Binance Coin (BNB) Is Up 40% In September. Here’s Why

Updated 14 Sep 2020
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Binance Coin (BNB) price is up nearly 40% in September to trade above $32 for the first time this year. Fundamentally, Binance crypto exchange is working to roll out new DeFi platforms to capitalize on the hottest crypto trend this year.

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Binance granted access to its decentralized Binance Smart Chain (BSC) access to centralized exchange (CeFi). Moreover, one of the world’s biggest crypto exchanges is aiming to invest $100 million in new DeFi projects that will be developed on BSC.

Earlier this month, Binance announced a new project called Launchpool. It enables its users to make a profit by staking tokens for yield farming. As the DeFi race hots up, Binance also rolled out a new DeFi-focused platform similar to Uniswap.

The founder and CEO of Binance, Changpeng Zhao, hinted recently that Binance aims to add support for the DeFi tokens.

A few days ago, Binance exchange tweeted:” What #DeFi projects would you want to see on #Binance Smart Chain?”.

Binance Coin (BNB) price is up nearly 40% this month September 2020

Binance Coin price has surged nearly 40% this month to log $32.38, the highest level it recorded in 2020.