Binance Coin (BNB) is up 10 percent with the announcement of a $1 billion growth fund. Binance Coin exploded after popular altcoin project Binance announced the launch of a massive $1 billion fund. Details cryptocoin.com‘in.
This altcoin jumped
The price of Binance Coin (BNB) is up about 10%, hitting an intraday high of $433. This comes after the world’s largest cryptocurrency exchange Binance announced that it has launched a $1 billion fund to develop the Binance Smart Chain (BSC) ecosystem. Fifty percent of the aforementioned total is reserved for decentralized gaming computing and the development of virtual reality. A total of $300 million was allocated to hackathons and sponsored developers as part of the Most Valuable Creator (MVB) program.
The remaining $1 billion will be used for the talent development and liquidity incentive program. The ultimate goal is to make BSC the “most inclusive” blockchain with real-life use cases. This program will bring BSC one step closer to making it the most inclusive and used blockchain infrastructure in the world, creating the new Internet of Value for all. BNB’s price surge provided temporary relief for some altcoins and dragged down Bitcoin’s dominance.
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