BounceBit Price Rallies 90% As Binance Extends Support For BB

The BounceBit (BB) price rallied by an impressive 90% today, amid a flurry of major listing announcements and mainnet launch announcements. In addition, this surge follows Binance’s recent announcement of extending support for BB, further elevating investors’ confidence. With Binance’s backing, BB enters a new realm of opportunities, presenting an enticing prospect for both traders and enthusiasts alike.

Binance Extends Support for BounceBit

Binance, the leading crypto exchange platform, has made a groundbreaking move by incorporating BounceBit (BB) into its ecosystem. This integration encompasses various features, including Simple Earn, Buy Crypto, Convert, Margin, Futures, and Auto-Invest. Notably, with BB now available on these platforms, users gain unprecedented accessibility and flexibility in managing their digital assets.

Meanwhile, Binance’s decision to list BB on its Simple Earn platform allows users to subscribe to BB Flexible Products, offering a seamless way to earn returns on their crypto holdings. Besides, the inclusion of BB in the Buy Crypto feature enables users to purchase BB directly using credit/debit cards, Google Pay, or Apple Pay, simplifying the acquisition process. On the other hand, users can effortlessly trade BB against BTC, USDT, and other tokens supported by Binance Convert, all at zero fees.

Simultaneously, the extension of support for BounceBit (BB) on Binance Margin and Futures further amplifies its utility and market reach. BB becomes a new borrowable asset on Cross and Isolated Margin, facilitating margin trading activities. Meanwhile, the launch of the USD BB Perpetual Contract on Binance Futures with up to 50x leverage opens avenues for traders to capitalize on BB’s price movements.

The Multi-Assets Mode feature enhances flexibility by allowing users to trade the BBUSDT Perpetual Contract across multiple margin assets, subject to applicable haircuts. Notably, this comprehensive approach underscores Binance’s commitment to providing a robust and user-centric trading experience.

Also Read: Why Is Bitcoin Price Rising Today?

Price Rallies Amid Mainnet Launch & Major Listings

The BounceBit rally also follows major listing announcements from other major crypto exchanges. For context, the leading crypto exchange Bitget has announced the launch of BounceBit on its platform in the BTC Ecological Zone and DeFi Zone. The trading opening time is May 13, at 18:00 UTC, while the withdrawal time will start on May 14 at 19:00 UTC. 

In addition, BounceBit celebrates a significant milestone with the launch of its Mainnet, following a successful Water Margin TVL Event. With approximately $1 billion in Total Value Locked (TVL) and nearly 400,000 early contributors, BounceBit has demonstrated remarkable growth since its rollout in late January 2024. 

Meanwhile, the introduction of the Premium Yield Generation feature allows thousands of staked BTC to generate yield through Funding Rate Arbitrage. The Testnet phase proved the robustness of the BounceBit Network and the resilience of the BounceClub ecosystem, according to the announcement. 

Following these developments, the BounceBit price surged 90.35% to $0.5463, with its trading volume at $259.94 million. Since its trading launch, the BouceBit price has touched a high of $0.5609, and a low of $0.2898.

BounceBit Price Chart
BounceBit Price Chart

Also Read: Bitcoin Investment Products See Inflows First Time In Five Weeks, Upside Confirmed?

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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