Binance CEO CZ: BTC Is Pulling Its Weight And Others Need To Catch Up Fast

Strength Of The Bitcoin: BTC Rebounds Fast Despite Tether Scandals And Binance Hack
Advertisement

Bitcoin is surging again, and this time around, some very influential people are noticing and talking about it. In his recent Twitter post, Binance’s own CEO Changpeng Zhao talked about it.

Zhao noted that Bitcoin is now surpassing the $200 billion mark in market capitalization, a figure that was actually twice the market cap of the entire crypto market just a few weeks ago.

A quick look at the crypto market data on CoinMarketCap shows that the market has just hit around $334.4 billion in total capitalization and with the 24-hour volume clocking $70.5 billion. 

Rising Market Dominance 

As it surges and takes the market upwards with it, Bitcoin is also scoring hugely in other areas besides price. The top coin now has a 60% market dominance, leaving the rest of the thousands of other cryptos to battle for the remaining 40%. The rising market dominance is a clear indication of just how well Bitcoin is holding against other cryptos as the competition heats up. 

At the moment, Bitcoin trades at around $11,251, with a market cap of $200.046 billion and a 24-hour volume of 21.9 billion at a 3.49% change. Ethereum and XRP have maintained their second and third positions at $32.99 billion and $19.647 billion in market caps respectively. 

Advertisement

Need To Up The Game

According to Zhao, other cryptos like BNB should make efforts to keep up with Bitcoin. For one, Binance Coin has been on the surge of late, reaching an ATH and currently trading at $36.50. In fact, many people have opined that BNB could be on its way up to hit $100 soon. 

Many of the crypto fans responding to Zhao’s tweet were of the opinion that Bitcoin is here to stay and dominate. Others expressed optimism that other coins like BNB are also destined for greatness.

What's Your Thought On This?, Let Us Know In the Comment Section Below.

Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram