Binance has recently rolled out the Binance Account Bond (BAB) token, the token is used to identify users of BNB that have successfully finalized KYC verification. The launch of BAB was announced on Twitter.
Moreover, this latest update will allow users to present this as identity authentication and also for creating different projects and earning rewards on the platform. Following the BAB announcement, BNB price has rised by 6% in just over 24 hours making it one of the top cryptocurrencies in the market cap.
According to CoinMarketCap, Binance Coin price has shoot up by 2.04%, presently trading at $295.28 as of press time. Furthermore, trading volumes have also surged over 1 billion in sync with the latest upgrades.
The Market Value Realized Value (MVRV) Ratio has also increased and will continue to spike in the coming days.
“BAB token holds no data or utility other than to signify that the wallet holder has passed KYC checks through Binance.” Changpeng Zhao, CEO of Binance has said in a tweet.
BNB, the regular token of Binance, has gone through unprecedented growth since its birth. The token is used mainly to take advantage of low or discounted trading fees as well as for joining the Binance Launchpad.
