Binance Coin Rises 9% To $ 430 Following Trading Platform Announcement Of New Fund Launch
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of a $ 1 billion fund to develop and support the Binance Smart Chain ecosystem.
The fund will be divided into four programs: talent development ($ 100 million), liquidity stimulation ($ 100 million), developer incentives ($ 300 million), and an investment program ($ 500 million), which will support startups.
It's time to accelerate #BinanceSmartChain's journey towards scaling and mass adoption 🚀
We're announcing the biggest growth fund in the history of crypto – the $1 billion fund to push the adoption of not only BSC but the whole blockchain industry.
👇https://t.co/lkTHmp8fRm— Binance Smart Chain (@BinanceChain) October 12, 2021
After the exchange announced the launch of a new fund, the exchange rate of the internal token of the Binance Coin trading platform increased by 9%, altcoin is trading at $ 430, and its capitalization is $ 72.5 billion.
According to a report by DappRadar , in the third quarter of this year, activity on the Binance Smart Chain network grew by 20%.