Why is the BNB price up today?
BNB's price is rising today as traders' attention shifts toward the launch of Ethena on Binance Launchpool and BNB Chain's $1 million commitment for the memecoin sector.
BNB (BNB) price is up today, rising 4% to $584. In doing so, the cryptocurrency has outperformed most of its market rivals, namely Bitcoin (BTC) and Ether (ETH), whose gains in the same period sit around 0.64% and 0.22%, respectively.
Among the top catalysts driving the BNB's price rally on April 4 include the ongoing euphoria around the launch of synthetic dollar protocol, Ethena (ENA), and its rising crypto market dominance.
On March 29, Binance announced the inclusion of Ethena on the Binance Launchpool, noting that users could stake their BNB (and FDUSD) to farm ENA tokens from March 30 until April 1. The crypto exchange listed the ENA token for trading on April 2.
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