The Binance Coin (BNB) is certainly on its way to the moon. By far one of the best-performing coins this year, BNB is not likely to go anyway but forward. And all of this reflects in the coin’s swift upsurge, the most recent of which took place within the last 24hrs and has now led the coin to snatch the 7th spot, leaving its closest rival Tether (USDT) struggling to stay afloat.
By market capitalization, BNB is now the 7th most valued cryptocurrency but it doesn’t end there, the coin is swiftly headed towards a new and higher trading price, one that would be the result of an increased trading volume and go on to birth a market cap that could move it one step higher in rankings, interestingly, this could happen within the next 24 and 48hrs.
As at yesterday, BNB moved from $13 to $14.56, as trading volume continued to build up, the coin crossed over to $15, in the process of this price crossover, the market cap has also seen a massive increase that forced Tether (USDT) to make way for BNB. This can all be credited to BNB traders who have increased trading volume by $64.24 million while market cap increased by $94 million between now and the last 24hrs.
Recently, ZyCrypto had reported on the likelihood of BNB making a price breakout from its trading price of $13 at the time to hit $20 in a few weeks time. As it would seem, BNB has indeed been on that path as the trading price is now seated at $15.18 with gains of 13.20%, making it one of the highest gainers today.
Binance Coin (BNB) Against Bitcoin Cash (BCH)
As usual, the closest rival could either increase or decrease BNB’s possibility of moving forward. And in this case, BCH happens to be this rival. While the cryptocurrency market is very unpredictable, BNB is already over 10% up, while BCH is recording losses of 1.35%. Also, BCH is less than $20 million ahead of BNB at press time. With consistency on BNB’s path, the 6th spot may be lost to this coin is in a few hours or days.