Binance Coin overtakes Tether and becomes the third largest cryptocurrency after Bitcoin and Ether by market capitalization

Binance Coin (BNB), a cryptocurrency of the world’s largest crypto exchange, Binance, has reached an important historical milestone and is the third largest coin by market capitalization for the first time in history

At the time of writing, BNB’s market capitalization is $ 38 billion, outperforming the largest stablecoin tether (USDT) by about $ 5 billion, according to data from crypto tracking source CoinGecko

Binance Coin is trading at $ 257, up 47% in the last 24 hours and up 107% in the last seven days at the time of publication

In addition to accelerating market capitalization growth, the BNB also saw a significant increase in daily trading volume, with Binance Coin’s average daily trading volume reaching a new all-time high of $ 14 billion today, up from just $ 9 billion yesterday / p>

Binance Coin’s entry into the top 3 coins by market capitalization follows a massive rally As reported by Cointelegraph, BNB saw a sharp surge yesterday, outperforming XRP, becoming the sixth largest coin after Polkadot (DOT) and Cardano (ADA) has been

The rise in BNB is due to the success of the PancakeSwap decentralized exchange based on Binance Smart Chain The decentralized financial platform has seen some parabolic growth in recent weeks, overtaking Uniswap as the largest decentralized exchange by trading volume yesterday at the time of writing Average daily trading volume of PancakeSwap at USD 1.6 billion from USD 1 According to CoinGecko 2 billion Uniswap

Changpeng Zhao, CEO of Binance, noted that the BNB has hit new highs not only in terms of fiat but also in terms of the world’s largest cryptocurrency, Bitcoin (BTC) “From a modest 000 001 BTC per BNB, we’ve grown 480 times BTC over the past three and a half years,” wrote Zhao, saying that the BNB’s performance against BTC has been Binance’s primary target:

Binance Coin

World news – AU – Binance Coin becomes the third largest crypto after the parabolic rally

Source: https://cointelegraph.com/news/binance-coin-becomes-the-third-largest-crypto-following-parabolic-rally