After yet another consecutive rise of all time, Binance Coin’s market capitalization exceeded $ 100 billion for the first time.
Binance’s native crypto asset began to grow in 2021, resulting in the invasion of unknown territory quite regularly. With the latest record for Binance Coin reaching a few hours over $ 650 a few hours ago, the total market capitalization of the asset has fallen into nine-digit territory.
After the start of the ongoing race in October last year, Binance Coin looked a little behind. While Bitcoin and other digital assets valued at double digits monthly and reached new records in late 2020, BNB lagged behind.
Binance’s native cryptocurrency entered the new year at $ 40 and even dropped among the top ten currencies by market capitalization at one point.
However, the tides changed quite a bit in the weeks and months that followed, and BNB started to grow.
In less than two months after the start of 2021, Binance Coin’s value has increased eightfold to more than $ 320.
Although the cryptocurrency fell back and stopped in March, it resumed its impressive performance in early April and invaded unknown territory once again.
The BNB jumped to over $ 600 in the following weeks, but May got even better. It took less than three full days for the asset to break its previous record, and the last one came just hours ago at $ 655 (at Binance).
BNB / USD. Source: TradingView
In addition, BNB’s market capitalization has also reached a significant milestone by exceeding US $ 100 billion for the first time. Thus, Binance Coin became the third cryptocurrency with a market capitalization consisting of nine (or ten in the case of BTC) digits.
As such, BNB’s market capitalization exceeded some notable names outside the crypto industry, including Micron Technology, Fidelity National and Volkswagen AG.