Binance Coin Spikes 13%; Can Explosive Tokens Boost Bitcoin to $4,200?

Binance Coin (BNB), the native crypto asset of Binance Chain, a blockchain network developed by the world’s largest cryptocurrency exchange, has spiked by 13 percent again, extending the momentum of Bitcoin and the rest of the market.Within one month, the price of Binance Coin has surged from $7.8 to $15.31 by more than 96 percent against the U.S. dollar.1-Month Price Chart of Binance Coin (Source: Coinmarketcap.com)Off of its recent price movement, Binance Coin overtook Tether, the most dominant stablecoin in the cryptocurrency market, to become the 7th most valuable digital asset in the market.In the week before, Binance Coin surpassed TRON and Stellar for the first time, achieving a market cap of over $2 billion.Fueled by the momentum demonstrated by major crypto assets in the likes of Binance Coin and Litecoin, Bitcoin has recovered to $3,900 and is en route to enter the $4,000 region.Throughout the past month, many traders have emphasized the importance of the $4,200 resistance level for Bitcoin.Bitcoin cleanly broke out of $4,000 in February but struggled to test the $4,200 level and as soon as BTC came close to breaching out of $4,200, it plunged below $3,700.Following a plunge in price of Bitcoin from $4,200 to $3,700, economist Alex Krüger ‏explained on February 24:Today’s crypto dump was a simple correction.