Why BNB 24 hours price increases 12%?

BNB 24 hours price increases 12% and breaks above $700.

Why BNB 24 hours price suddenly increases 12%?

There is a strong demand for BNB tokens to use for Binance’s Token Launch Platform also known as Binance Launchpad.

In order to farm the newly launch token on Binance Launchpad, users need to have BNB tokens.

Notcoin (NOT), the latest token launch on Binance Launchpad is so successful.

Notcoin is 54^th Binance Launchpool that start farming on May 13, 2024 over a period of 3 days.  Notcoin started trading on May 16.

Launchpool token rewards:

-Launchpool Token Rewards: 3,081,576,651 NOT (3% of max token supply)

-BNB Pool: 2,619,340,153 NOT in rewards (85%) 

-FDUSD Pool: 462,236,497 NOT in rewards (15%)

As of May 6, 2024, Notcoin ranked 52^nd largest crypto by market cap. It has a market cap of $2.293 billion.