bnb price news May 21: BNB rises! Binance Chain Coin Price Jumps 11% As It Becomes 4th Largest Crypto After BTC, ETH, USDT
The price of BNB, the cryptocurrency that powers the Binance Chain ecosystem, has jumped over 12% in the past 7 days, slowly emerging from the slump it suffered during the recent crypto market crash. that wiped out billions of dollars worth of investors. money.
In the past 24 hours alone, the price of BNB has risen almost 5% to $329. As of this writing, BNB is trading at over Rs 26,670 on Indian crypto exchanges.
Data on CoinMarketCap shows BNB was trading at $314.92 as of 8:59 p.m. on Sunday, May 22. The price jumped to $329.56 at 1:04 p.m. today. In the process, BNB also regained its position as the fourth-largest cryptocurrency by market capitalization, rising above USDC, according to data from CoinMarketCap.
BNB had dropped to the fifth position during the recent crypto market crash which saw Terra (Luna) fall to almost zero in a matter of days. The value of Terra’s stablecoin (UST) also fell below a penny during the crash.
READ ALSO | Will Crypto Rise Again in 2022 After the Crash?
Meanwhile, BinanceUSD, the stablecoin offering of the Binance ecosystem, also increased its market capitalization after the crash. It is also now in the list of top 10 cryptos, ranked 7th.
BUSD dominates 1.35% of the global crypto markets while BNB captured 4.04% of the global crypto market capitalization.
The other top 10 cryptos on the list are Bitcoin (1st) Ethereum (2nd), Tether (3rd), USDC (5th), XRP (6th), Binance USD (7th), Cardano (8th), Solana (9th) and Dogecoin (10th).
Binance Chain reportedly said it would welcome the migration and offer support for terra ecosystem projects. Cointelegraph reported that BNB Chain’s chief investment officer, Gwendolyn Regina, said she wanted to support developers and projects in the terra ecosystem so that “they don’t run out of future potential.”
(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)