The Binance token has dethroned stablecoin Tether and is now the third largest crypto asset by market capitalization. After hovering just below $50 in early February, the token crossed the $50 mark on the 19th. February the $250 mark. At the time of writing, the token is hovering around its all-time high (ATH) and stands at $262.
At this rate, BNB’s market capitalization currently exceeds $38 billion. That’s almost $4 billion more than Ter. Prior to the price spike in February, the token was on a gradual rise along with other exchange-traded assets. However, since early February, there have been two major price breakthroughs in the token.
In its first significant rally, the chip price went from just under $50 on February 1 to $147 on February 10, a jump of nearly 200%. After a seven-day rest, the chip resumed its advance on the 16th. In February, and at the time of writing, its value doubled in just 72 hours.
At the same time, the performance of the NBB token is also reflected in other exchange-traded assets. According to Messari, most of the top 10 listed stocks have doubled in value over the past seven days. In the past 24 hours, only four of the top ten exchange-traded assets fell, namely: UNI, SUSHI, ZRX and LRC.
What do you think of the performance of the BNB token over the last few days? You can share your thoughts below in the comments section.
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