Cryptomustar
Saturday, May 21, 2022
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptomustar
No Result
View All Result
Home Cryptocurrency

Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

by admin
February 19, 2021
in Cryptocurrency
0
Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars
0
SHARES
160
VIEWS
Share on FacebookShare on Twitter


Tokens from the Binance Chain ecosystem are surging today, led by Binance Coin’s (BNB) own example—which broke above $270 today, according to CryptoSlate’s Binance Smart Chain sector data.

The top 10 Binance Chain-based tokens. Image: CryptoSlate

The level of $270 is yet another major milestone BNB is storming in just over a week. On February 9, the coin’s price spiked above $100—an impressive achievement by itself, but one that was overshadowed as BNB more than doubled it just nine days later.

RELATED POSTS

Taking a deeper look into the UST-USD decoupling and how LUNA plummeted by 99%

Goldman Sachs says the crypto crash will have a small impact on the U.S.

Today, the coin peaked at roughly $272 as its market capitalization exceeded $40 billion. The latest price rally pushed BNB to 3rd place among the largest cryptocurrencies—right behind Bitcoin (BTC) and Ethereum (ETH).

At press time, BNB is trading at around $264.4, up 42% on the day and +105% on the week. In total, the coin saw some phenomenal growth over the past 30 days, gaining more than 500% over the last 30 days.

The Binance Chain sector as a whole is up 96% over the past seven days.

The growing number of use cases

One of the main factors that contribute to BNB’s appreciation is the growing number of other skyrocketing platforms based on Binance Chain and Binance Smart Chain (BSC). For example, PancakeSwap—a decentralized trading platform (DEX) that allows users to swap various tokens—swiftly rose to prominence lately. While it has its own token—CAKE—it is also using BNB for liquidity pools.

I believe #BSC has passed the tipping point. Now all the wallets and other tool makers will want have better and native support for #BSC, and not just a #ETH variant. Virtuous cycle now.

— CZ ? Binance (@cz_binance) February 18, 2021

After its daily trading volume exceeded $1.58 billion today, PancakeSwap became the largest DEX by this metric, pushing Ethereum-based Uniswap to 2nd place. CAKE is also deep in the green zone, trading at $17.5. The token is up 51% on the day and 170% on the week.

The top 5 DEXs by trading volume
The top 5 DEXs by trading volume. Image: CoinMarketCap

Venus (SVX) is another platform in the BSC ecosystem that has been blowing its competition out of the water lately. Over the last 24 hours, it generated roughly $27.5 billion in transaction volume and currently makes up 87.77% of the whole DEX sector, according to CoinMarketCap.

As CryptoSlate reported, DeFi platforms on Binance Smart Chain have been thriving over the past month thanks in large part to users fleeing Ethereum’s constantly growing transaction fees.

According to crypto metrics platform Blockchair, the average transaction fee on Ethererum has shot up above $24 recently, making the blockchain quite expensive to use for “common” crypto enthusiasts.

Explore the Binance Smart Chain ecosystem on CryptoSlate.

Binance Coin, currently ranked #3 by market cap, is up 47.63% over the past 24 hours. BNB has a market cap of $42.26B with a 24 hour volume of $11.98B.

Binance Coin Price Chart

BNBUSD Chart by TradingView

Like what you see? Subscribe for daily updates.





Source link

Tags: BinanceBNBChainCoinEcosystemeruptsSmartsoars
ShareTweetShare

Related Posts

Taking a deeper look into the UST-USD decoupling and how LUNA plummeted by 99%

Taking a deeper look into the UST-USD decoupling and how LUNA plummeted by 99%

by admin
May 21, 2022
0

TerraUSDT (UST) is (though “was” might be better)an algorithmic stablecoin whose stability mechanism stemmed from the promise of a...

Goldman Sachs says the crypto crash will have a small impact on the U.S.

Goldman Sachs says the crypto crash will have a small impact on the U.S.

by admin
May 20, 2022
0

Analysts at banking behemoth Goldman Sachs believe the recent crypto crash will have little impact on U.S. households.Michael S....

AQX Open Beta Launches and How To Use AQX Cryptocurrency Exchange Platform

AQX Open Beta Launches and How To Use AQX Cryptocurrency Exchange Platform

by admin
May 20, 2022
0

AQX Open Beta Launches AQX Open Beta officially launches to the public on 18th May 2022. Previously, the only way...

Memes in red as Dogecoin and Shiba Inu shed over 80% of their ATH

Memes in red as Dogecoin and Shiba Inu shed over 80% of their ATH

by admin
May 20, 2022
0

Based on recent price performance, the crypto market is at its lowest ebb for the first time in a...

a16z’s ‘State of Crypto’ report shows crypto is in a really good state

a16z’s ‘State of Crypto’ report shows crypto is in a really good state

by admin
May 20, 2022
0

Few companies in the VC space have exposure to crypto as a16z has. Founded in 2009 by Marc Andreessen...

POPULAR NEWS

4 Cryptocurrency that Blow Bitcoin Out of the Water

4 Cryptocurrency that Blow Bitcoin Out of the Water

September 25, 2020
Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

July 1, 2021
Apollo CBDC: The CBDC Platform that can Power Economies

Apollo CBDC: The CBDC Platform that can Power Economies

October 6, 2020
Stratus: The Most Feature Rich Social Media Network

Stratus: The Most Feature Rich Social Media Network

September 9, 2020
Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

February 19, 2021

EDITOR'S PICK

Grayscale Files With SEC to Convert Its Bitcoin Trust Into an ETF

Grayscale Holds $43B in Crypto Assets Under Management, Down From $60.9B in Early November

January 1, 2022
Goldman Sachs Excutive Packs Up To Join Coinbase Global

Goldman Sachs Excutive Packs Up To Join Coinbase Global

February 26, 2022
India Commodity Price Increase Stemming From Russia Invasion Could Hurt Crypto Investment

India Commodity Price Increase Stemming From Russia Invasion Could Hurt Crypto Investment

March 2, 2022
Fantom FTM Rises 10% on Upcoming Protocol Upgrades

Fantom FTM Rises 10% on Upcoming Protocol Upgrades

March 16, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • MoonForce: The Next Generation Crypto Multiverse
  • Build Defi – Crypto asset aims to decentralize the real estate market and the real economy
  • SCROOGE Aims To Dominate Reflection/Gaming Token Industry, With Beta Casino Set For Release In Q2 2022
  • US Congress introduces record number of crypto related bills
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptomustar.com

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptomustar.com

  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • yfBetayfBeta(YFBETA)$4.27-0.10%
  • IDLEIDLE(IDLE)$1.44-12.39%
  • WPP TokenWPP Token(WPP)$0.006826-3.49%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Werewolf CoinWerewolf Coin(WWC)$0.098082-2.58%
  • PolkaBridgePolkaBridge(PBR)$0.439784-6.92%
  • Dev ProtocolDev Protocol(DEV)$1.76-16.14%
  • EvidenZEvidenZ(BCDT)$0.122949-3.85%