Binance, a prominent cryptocurrency exchange, has witnessed increased troubles over the last few years. The firm has been subject to increased scrutiny. Despite this, the exchange’s native cryptocurrency, BNB, recorded a significant uptick. The asset went on to hit several peaks throughout the last 12 months. BNB has witnessed a yearly spike of nearly 200%. Can the asset continue this rally and end the year on a new high?

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Binance Coin’s Daily Rise

The cryptocurrency market saw a notable uptick over the past day. Binance Coin was also recovering. During the time of writing, the altcoin rose by 3.22% and was trading at $712.97. Despite the asset’s market cap rising to $102.67 billion, BNB dropped down the cryptocurrency ladder. Currently, the asset is the sixth largest asset in the market.

Source: CoinMarketCap

About eight days ago, on December 4, Binance Coin went on to reach an all-time high of $793.35. Currently, BNB is trading 9.89% below this peak. The asset’s rise to a mark close to $800 has pushed the community to make more ambitious bets for Binance’s native cryptocurrency.

The asset’s latest rise was linked to its trading volume. Recently, an analyst on CryptoQuant said,

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Binance coin volume
Source: CryptoQuant

BNB, Binance’s cryptocurrency, is gaining value. Its price has been rising, with a strong rally starting in early 2024. Now, at the end of the year, BNB is climbing again and reaching its all-time high 4 days ago. Recent price increases match higher trading volume, showing more interest from investors.

December Price Prediction

Source: CoinCodex

The Binance Coin network is all set to end the month on a bullish note. The cryptocurrency is expected to surge beyond the $800 mark. According to data from CoinCodex Binance Coin, the price will be between $719.52 and $842.45 at the end of the year.

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Assuming the average price for December is $780.38, this would mean that the price of BNB has risen 9.62% from today’s values. In other words, if BNB makes the forecast, investors might make 18.34%.