Binance’s utility coin BNB has posted significant gains, surprising investors as the broader crypto market slumps. Bitcoin and Ethereum, including most altcoins, have gone on recess while BNB surges amid rapid expansion plans on the Binance ecosystem.

BNB’s spike on Tuesday, August 1, hinged on Binance’s announcement about the asset’s debut in the Japanese market through its newly launched subsidiary, Binance Japan. BNB jumped dramatically from $236.8555 to $246.0655, a nearly 4% increase, immediately after the news circulated the market. 

BNB Price Bullish Amid Japanese Debut

It is noteworthy that BNB is launching on Binance Japan for the first time since the history of Binance. Moreover, Binance Japan is the only Japanese exchange offering the token on its platform. Therefore, …