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BNB grew 10% following the introduction of the $ 1 billion Binance funds.

Over the past 24 hours, we have seen a 10% increase in Binance Coin (BNB) and a return to the daily high of $ 435. The price increase came after the world’s largest cryptocurrency exchange, Binance, launched its $ 1 billion funds to develop the Binance Smart Chain Ecosystem (BSC).

Regarding the allocation of the amounts provided, it can be said. About 50% of this budget is allocated to developing decentralized gaming and virtual reality (VR) processing. A total of $ 300 million has been earmarked to hackathons and developers for the plan.

The remaining amounts of one billion dollars can be mentioned to the costs incurred in the development of talents and incentives for liquidity programs.

Concerning the objectives of intelligent chain Binance it is the ultimate aim was to provide the BSC with the actual use cases to pervasive in Blockchain may get:

This program brings us one step closer to the BSC, which has a comprehensive infrastructure and is used in  blockchain in the world.

With the sudden rise in the price of BNB, there has been a decline in bitcoin dominance. This is because many of the most popular Altcoins on the market have exposed themselves in this way.

Blocking search options related to cryptocurrencies by China WeChat platform.

According to blogger Colin Wu, WeChat, China’s largest messaging platform with more than one billion users, has banned Huobi, Binance, and other cryptocurrency exchanges.

After China announced that foreign exchange offices would not provide services to mainland China residents from September, the trading platforms also immediately banned Chinese exchanges. Accessing CoinMarketCap and CoinGecko, two popular cryptocurrency websites, has begun.

Source: u.today

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