The Binance Coin, BNB has been having one of the most impressive runnings since the year 2019 began. From market cap to rankings, to trading volume and trading price, BNB has been one of the most attractive coins and it is for this reason that the coin made our recently reported list of most promising cryptocurrencies.
More interestingly, BNB has yet again moved in such swiftness that Stellar XLM, once the 8th largest cryptocurrency by market capitalization is now sitting on the 9th spot, all of which happened in less than 24hrs.
In the past 24hrs, BNB made slight gains that skyrocketed it well enough to snatch the 9th spot from Tron (TRX), as if this wasn’t enough, the coin garnered a little more in gains and surpassed XLM’s market capitalization to become the 8th most valued coin by market cap.
As of this writing, BNB is not exactly in the safest territory, seeing that its current market cap of $1.63 billion against XLM’s $1.61 billion is only $2 million away, and with any given chance BNB may be back to the 9th spot.
However, with the current market structure, BNB which has now attained 2.15% in gains still has the upper hand against XLM which has lost 0.94% at press time. Much of this success can be credited to BNB’s trading volume of yesterday which saw a huge spike that landed it at $120.80 million, although BNB’s current trading volume at press time has dropped by $35 million, leaving to struggle at $85.93 million, yesterday’s boost was largely behind the coins ability to overthrow both TRX and XLM in a single day.
Meanwhile, this newly achieved milestone for BNB might be posing as a problem for Tether (USDT) which now happens to be BNB’s next rival. And there is a decent possibility of this happening seeing that the USDT is already down by 0.12% with a market cap of $2.04 billion, one that will require BNB to attain $42 million in order to equalize.
While nothing is ever certain with price movements in the cryptocurrency market, BNB’s ability to make a swift rally might just have the USDT sitting at the 8th spot this week.