July 24, 2024
Latest Cryptocurrency News

BNB Chain and Binance Labs Launch Incubation Alliance

On June 13, BNB Chain announced a collaboration with Binance Labs to launch the BNB Incubation Alliance (BIA). This new program aims to support emerging blockchain projects by providing a 10-week accelerator for builders, founders, and developers. Additionally, BNB Chain grants and Binance Labs investments are available to participants.

Global Events to Identify Promising Projects

BNB Chain revealed that BIA participants will be selected through global events. The blockchain network plans to collaborate with venture capitalists, incubators, and developer communities to host these events worldwide. These events will focus on early-stage blockchain ventures, both pre and post-product launch. A panel of judges, including representatives from the network’s partners and co-organizers, will evaluate and award the program’s winners.

First Iteration at Ethereum Community Conference

The first iteration of the BIA will take place at the Ethereum Community Conference in Brussels, Belgium. The BNB Chain Core Development Team emphasized that the alliance will provide emerging talent with the necessary network, knowledge, and tools for success. Yi He, head of Binance Labs continued by saying that the company’s dedication to assisting blockchain talent is reaffirmed by the incubation collaboration.

BNB Token’s Recent Price Surge

The launch of the incubation alliance coincides with a recent price surge in BNB Chain’s native token, BNB. According to crypto tracker CoinGecko, BNB reached an all-time high of $717.48 on June 6 but later corrected to $601 on June 12. Currently, BNB is priced at $608.45.

BNB’s 1-year price chart. Source: CoinGecko

Despite the market’s overall 4.2% gain in early June, BNB outperformed with a 19% gain. However, traders remain cautious about the rally’s sustainability, seeking indicators to support the token’s bullish momentum.

Image from Wikimedia Commons

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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