Binance Coin 'BNB' Surpasses Bitcoin Cash 'BCH' By Market Cap.

Binance Coin 'BNB' Surpasses Bitcoin Cash 'BCH' By Market Cap.

2021-02-04 | Big Bob

Binance Coin 'BNB' Surpasses Bitcoin Cash 'BCH' By Market Cap.

Binance Coin [BNB], the token launched by the leading cryptocurrency exchange Binance, saw its price hit new all-time highs in the week, passing Bitcoin Cash [BCH] by market cap. Data from CoinMarketCap & TradingView confirmed that BNB "flipped" BCH to become the 9th-leading cryptocurrency on 4th Feb. While several altcoins reach record highs in the week, BNB/USD briefly hit $55 USD earlier today on Thursday prior to correcting to circle levels slightly below $54 USD. Performance appeared buoyed by record volume on Binance itself as trading gathered pace as a part of a long-awaited return of "alt season." The action was led by Dogecoin [DOGE] surging due to tweets by Elon Musk, that Binance CEO Changpeng Zhao wont to promote trading on the platform.
"All-time high on system traffic again. Moreover, 3 ATHs within the last quarter-hour," he revealed on Thursday. "Some isolated latencies observed, monitoring. Funds are #SAFU!"
The most conspicuous victim of BNB on the day was Bitcoin Cash [BCH], which ceded its position to become increasingly in peril of losing its status as a rank 1 cryptocurrency by market cap At the reporting time, while trading at the 11th-rank Stellar Lumen [XLM] was still $700 Mln less than BCH, with BNB's market cap at $8.3 Bln. BNB, meanwhile, forms one among the cryptocurrencies supported by Binance Pay, Binance's latest product, which launched as a beta version in the week. Both Bitcoin [BTC] and Ethereum [ETHalso are available to be used within the payment gateway, Alongside the Binance USD [BUSD] stablecoin, Swipe Token [SXP], and therefore the Euro as a fiat currency option. As reported earlier, exchange traffic worldwide is expanding rapidly as of the Bull Run, which has received considerable mainstream attention in recent weeks and months.

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