{"id":6385,"date":"2021-02-19T08:27:12","date_gmt":"2021-02-19T08:27:12","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/binance-coin-becomes-the-third-largest-crypto-following-parabolic-rally"},"modified":"2021-02-19T08:27:12","modified_gmt":"2021-02-19T08:27:12","slug":"binance-coin-becomes-the-third-largest-crypto-following-parabolic-rally","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/binance-coin-becomes-the-third-largest-crypto-following-parabolic-rally\/","title":{"rendered":"Binance Coin becomes the third-largest crypto following parabolic rally"},"content":{"rendered":"

Binance Coin (BNB<\/a>), a cryptocurrency issued by the world\u2019s largest crypto exchange Binance, has hit a major historical milestone, becoming the third-largest coin by market capitalization for the first time in history.<\/p>\n

At the time of writing, BNB\u2019s market cap stands at $38 billion, outstripping the biggest stablecoin Tether (USDT<\/a>) by about $5 billion, according to data from crypto tracking source CoinGecko<\/a>. <\/p>\n

Binance Coin is trading at $257, up 47% over the past 24 hours and skyrocketing 107% over the past seven days at publishing time.<\/p>\n

Source: CoinGecko<\/a><\/em><\/figcaption><\/figure>\n

Alongside propelled growth in market capitalization, BNB also saw a major spike in daily trading volumes, which saw the average daily trading volume of Binance Coin hit a new all-time high of $14 billion today, up from around just $9 billion yesterday.<\/p>\n

Binance Coin\u2019s entrance to the top three coins by market cap follows a massive rally. As reported by Cointelegraph, BNB recorded a major surge yesterday<\/a>, outperforming XRP and becoming the sixth largest coin, following Polkadot (DOT) and Cardano (ADA<\/a>).<\/p>\n

BNB’s surge comes amid the success of Binance Smart Chain-based decentralized exchange, PancakeSwap. The decentralized finance platform has seen some parabolic growth in the past weeks, overtaking Uniswap as the largest decentralized exchange<\/a> by trading volume yesterday. At the time of writing, PancakeSwap\u2019s average daily trading volume stands at $1.6 billion, up from $1.2 billion of Uniswap, according to CoinGecko<\/a>.<\/p>\n

Binance CEO Changpeng Zhao<\/a> noted that BNB has been setting new all-time highs not only in fiat terms, but also in relation to the world\u2019s largest cryptocurrency, Bitcoin (BTC<\/a>). \u201cFrom a humble 0.00001 BTC per BNB, we have grown 480x against BTC in the last 3 and half years,\u201d Zhao wrote<\/a>. He said that BNB\u2019s performance against BTC has been the main goal of Binance:<\/p>\n

\u201cThis has always been our goal, to grow a bit faster than BTC. Not over taking it, but with so much effort we put in, we want to see it grow a bit faster. Otherwise, we should just buy BTC and not work.\u201d<\/p><\/blockquote>\n

Source: COINTELEGRAPH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Binance Coin (BNB), a cryptocurrency issued by the world\u2019s largest crypto exchange Binance, has hit a major historical milestone, becoming the third-largest coin by market capitalization for the first time in history. At the time of writing, BNB\u2019s market cap stands at $38 billion, outstripping the biggest stablecoin Tether (USDT) by about $5 billion, according…<\/p>\n","protected":false},"author":1,"featured_media":6386,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[93,129,571,441,521,95,570],"class_list":["post-6385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-crypto-news","tag-binance","tag-binance-coin","tag-changpeng-zhao","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-defi","tag-market-capitalization"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/6385"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=6385"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/6385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/6386"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=6385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=6385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=6385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}