What caused the price increase of Binance Coin token by 500% per month?

Binance Coin token hits all-time high after cryptocurrency exchange Binance launches programprofitable farming on the DODO platform for ETH stakers.

Binance Coin (BNB), the exchange's own tokenBinance confidently entered the top three largest assets in the cryptocurrency market. BNB hit a record high of $ 337 on February 20, according to trading data. For a month, its price has risen by more than 500%.

As a result, the capitalization of BNB exceeded $ 40 billion.This allowed him to knock out Tether from the top 3, the total value of stablecoins of which is $ 32 billion. Back in January, BNB was in the 10th place on the list, and before that it occupied even lower positions.

Investors who contributed coins to ETH 2.0 staking through Binance can now use them for passive income in the next crypto exchange project.

BNB and DODO soared to all-time highs

New staking and farming programs have been launchedBNB to record levels: on February 19, the coin reached $267 and firmly established itself in third place in the capitalization rating. At the time of writing, BNB is trading at $263.

</p>

Over the course of a day, the token increased in price by more than 40%. The current market capitalization of the asset exceeds 34 billion.

The DODO token doubled in price in 24 hours. The price jumped from $2.45 to $5.30.

What you sow BETH you reap DODO

The world's largest cryptocurrency exchange, Binance, offered users to earn tokens from a Chinese decentralized exchange that recently launched on Binance Smart Chain.

The message states that the seventeenth project of the Binance crypto incubator will open farming for 14 days, starting on February 19. During this period, just over a million DODO tokens will be distributed.

Users will be able to stake Binance Coin (BNB) wrapped in Ethereum on Binance (BETH) and BUSD in separate liquidity pools and earn DODO tokens.

Until recently, exchange usersthose who placed Ethereum on the Beacon Chain received the equivalent in BETH plus profit. These amounts sat idle in their wallets, bringing owners only rewards for staking ETH 2.0 minus exchange fees.

The new initiative will allow you to earn additional profits from staked coins by using BETH to receive DODO.

However, it is the BNB pool that will receive the lion's share of the rewards - 60% (641,710 DODO). The BETH pool will receive 30% (320,855 DODO), and the BUSD stablecoin pool will receive the remaining 10% (106,951 DODO).

At the time of publication, just a few hours after the program was announced, 10 million BNB, just over 90,000 BETH and 215 million BUSD had been staked.

Who are DODO?

The project claims to be a decentralizednext generation exchange, as it is able to respond to market changes and liquidity restrictions in real time. In October 2020, as part of a seed round, the project attracted venture capital investments amounting to $10 million.

The trading volume on the exchange exceeded $ 100 million.

???? https://t.co/rHgVCXvXWq

- DODO DEX (@BreederDodo) February 19, 2021

Launchpool also has income generating programsfarming (pharming) for a decentralized cross-platform LIT identity aggregator built on top of Substrate. A pharming program for SafePal, a decentralized cryptocurrency wallet and governance platform, has recently ended. Users have posted over 11 million BNB on SFP farms.

You can buy Binance Coin (BNB) token on the official website of the exchange https://www.binance.com/

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?