New all-time high for Binance Coin

The native BNB token from Binance breaks through the USD 700 mark for the first time, marking a new all-time high. At its peak, BNB reached a price of USD 711.56. Since mid-March, Binance's coin moved sideways without any major jumps. But in the past 24 hours alone, the price has risen about 12 percent.

At the same time, BNB's market capitalization has surpassed a sizable $100 billion, meaning Binance Coin outperforms numerous large companies such as UBS and Starbucks.

Recently, the crypto exchange Binance has been under intense regulatory pressure in several countries. The most recent legal dispute was with Nigerian authorities, who accused the company of money laundering and financing terrorism. In addition, founder and former CEO Changpeng "CZ" Zhao was convicted and recently began his four-month prison sentence in the U.S.

One possible reason for BNB's current strong performance could be the high level of activity on the Binance Launchpad and Launchpool platforms. There, users must buy and staker BNB to receive a share of a newly issued token.