Trading News

Read The Latest News & Analysis

BNB is Now the Third Biggest Cryptocurrency

BNB
Share on:

BNB is now the third biggest cryptocurrency according to market capitalization. It has crossed XRP on May 4th after a price rally towards an all-time high.

The price of the Binance coin (BNB) has been on the rise since April 18th. It reached the value of $680 on May 4th. This took the total market cap of the currency to $100 billion.

At press time, BNB is trading at $645. Its value has increased 15% over the past seven days. BNB is following the footsteps of ethereum and other altcoins like chainlink, Litecoin, and Dogecoin.

The Rise of Binance Coin (BNB):

BNB is a utility token issued by the world’s famous Malta-based crypto exchange Binance. The coin was launched in 2017. Initially, it started as an ERC-20 token on the ethereum blockchain. However, finance started its own blockchain after the popularity of exchange.

Binance blockchain uses a unique consensus mechanism for the creation of tokens. The holders of BNB tokens get a special discount on Binance exchange. For instance, the trading fee is diminished by 25% if you hold BNB in your account.

BNB price has been on the rise since the start of this year. It broke price records multiple times and entered three digits for the first time.

Crypto markets are on the rise in 2021. The institutional adoption of crypto and rising interest in the defi market are making all digital assets increase in value. The total market cap of crypto has crossed 2 Trillion Dollars. Besides, bitcoin crossed the $60K market in the last week.

Many crypto analysts are speculating the altcoin season with the meteoric rise of currencies like ethereum and dogecoin. Ethereum’s price crossed 3,000 dollars on Monday. On the other hand, Dogecoin is having the time of its life with a consistent surge. It has crossed $0.60 with an 11% surge in the past 24 hours. DogeArmy is expecting for doge’s rise to a dollar.

Recent News

crypto market

Richest Crypto Billionaire CZ has Assets Worth $96 Billion

Cryptocurrency has cultivated a new generation of billionaires The CEO of Binance exchange, Changpeng Zhao, is the richest crypto billionaire with his wealth amounting to $96

crypto market

Crypto Market Keeps Dropping on the Watch

Bitcoin reached $32K on Monday after significantly dropping over the weekend The whole crypto market went south following the pioneer cryptocurrency The sentiments of fear

crypto market

Multi-Million Dollar Crypto Scam: Pakistan to Investigate Binance

Federal Investigation Agency (FIA) of Pakistan has started a criminal investigation into a multi-million dollar crypto scam that involved people sending crypto funds from their

crypto market

Bitcoin Buyers are Holding and Accumulating Instead of Selling, Glassnode Reveals

Glassnode’s weekly report suggests that Bitcoin buyers are now holding as 76% of the supply of the coin became illiquid In the first week of 2022, the Bitcoin market is

Let's Chat
Facebook
Twitter
Instagram
Pinterest
Youtube