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Tuesday, May 17, 2022

Binance Coin Makes History as its Market Cap Reach $100 Billion

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The market capitalization of Binance set new records as the exchange token of Binance and the native asset of Binance Smart Chain (BSC) touched the new heights of success. The Binance coin market cap reached $100 billion and marked the history for the first time ever. The coin reported the new height of success at around $656 previously today after rapidly quashing from the $635 price level.

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The other two kings are Bitcoin which has a market cap of $1.10 trillion and Ethereum’s market capitalization reached $368.47 billion. Binance Coin is now soared an enormous 1,621% since January 1. On the other hand, BTC price up 115.54% and reached $58,801. While Ethereum’s price went up 338.31% and recorded the price of $ 3,184.15. XRP holds the 4th spot after BTC, ETH, and BNB.

There are various reasons the BNB has got fame. One reason is that the token issued by the world’s largest cryptocurrency exchange. In addition to this, BNB also profited enormously from the Binance Smart Chain’s rise in reputation. Furthermore, Binance Smart Chain is basically a more unified version of Ethereum where users are able to make deals at high speeds and comparatively low costs.

Furthermore, the largest project on BSC in terms of TVL is Venus, which shares a lot of distinguishing characteristics with the Ethereum-based protocols Maker and Compound. The second largest is PancakeSwap, which is an automated market maker comparable to Uniswap.

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