Binance Coin (BNB) has hit a 52-week high following the launch of its BSwap platform, an Automated Market Maker (AMM), on 4th September.

• BNB’s price stands at ~$33 at the time of publishing, up from the roughly $21 valuation before the announcement of BSwap
• The BNB token is not far from its all-time high of $39.57, which occurred in June 2019
• BSwap aims to compete with the likes of Uniswap, the DeFi market’s most popular platform for swaps
• Officials have stated that the AMM feature is intended for users who prefer to operate on centralized exchanges
• Like other AMMs, users can add assets to these pools, for which they will receive a portion of the trading fees plus interest
• Binance Swap currently offers the following pairs: USDT/BUSD, BUSD/DAI and USDT/DAI

Related:

• Binance has been making several moves in the DeFi space, most recently launching the Binance Smart Chain