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August 9, 2022
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Binance Coin (BNB) exceeds $ 50 billion in market capitalization

BNB is the third largest cryptocurrency in the world.

Binance Coin (BNB) has become the third digital currency in the world to reach a market capitalization of $ 50 billion, after BNB jumped almost 25% in the last 7 days. At the time of writing, BNB is being traded close to $ 350, with a market capitalization of more than $ 53 billion.

According to the latest data published by the Coinmarketcap, Binance Coin is the 3rd most valuable digital currency in the world, after Bitcoin and Ethereum. BNB has gained significant value since the beginning of this year, as the digital currency has jumped almost 800% in the past 13 weeks.

Binance Coin was created and launched by the exchange Binance in 2017. Several cryptocurrency organizations around the world are accepting BNB as a payment method. BNB started this year with a price level of approximately $ 37.

Due to the recent rise in the currency’s price, crypto whales have begun to move digital currency in large quantities. The Whale Alert reported a transaction worth $ 5.7 million yesterday involving a transfer of 16,500 BNB from Binance to FTX.

Top five digital currencies

Binance Coin continued to be one of the best performing digital currencies in the top 5. BNB has grown by more than 50% in the last 30 days. The cryptocurrencies Polkadot and Ethereum performed well in the last month. The top 5 digital currencies in the world include Bitcoin, Ethereum, Binance Coin, Tether and Polkadot. Tether’s current market capitalization is around $ 42 billion, followed by Polkadot (DOT) with $ 39 billion.

Bitcoin remained the largest cryptocurrency in the world by market value, with a total value of almost $ 1.1 trillion. The overall capitalization of the digital currency market is about $ 2 trillion, up from $ 750 billion earlier this year.

According to the latest report published by Binance Research, about 60% of global cryptocurrency users prefer exchanges to store their digital assets. In addition, Binance mentioned that 52% of users consider cryptocurrency as a source of income and 55% have digital assets as part of a long-term investment strategy.

Source: Finance Magnates

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