Summary:

• Binance currency BNB/USD rallied more than 9 percent on Friday to extend its weekly gains.

• The native token of the Binance Cryptocurrency Exchange Platform is the BNB.

• It is the largest cryptocurrency exchange by trading volume.

On Friday, Binance Coin (BNB/USD) price rallied extending this week’s gains to 15%. Between Monday and Wednesday, the BNB gained 8.3% before dropping 0. 47% on Thursday.

Binance, an unique ecosystem of decentralised Blockchain networks, is striving to be the largest service provider within the blockchain space. From a cryptocurrency exchange platform, the company now allows for the management and development of various projects.

The platform has diversified to other segments of the blockchain market, launching Binance Chain and Binance Smart Chains, Binance Academy and Binance Trust Wallet as part of its growing network.

The BNB token has attracted a large pool of enterprise investors following its spike in 2021.

There is still room to run

From an investment perspective, Binance Coin seems to have rallied significantly since the start of October, pushing it to the overbought conditions of the 14-day RSI.

However, the BNB is still far from retesting this year’s highs of about $700, thus leaving room for more upward movement.

As a result, the BNB/USD could continue rising within the ascending channel formation in the intraday chart for the foreseeable future.

In summary, the recent pullback of the BNB/USD presents an exciting opportunity for investors to take advantage of the bull run.