Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
Altcoins

Binance Coin (BNB) flips Tether, becomes third-largest crypto by market cap

Staff ReporterBy Staff ReporterUpdated:April 12, 2021 on April 12, 2021
Tether
Illustration credit: Morning Tick
Share
Reddit Facebook Twitter LinkedIn Pinterest WhatsApp Email

Riding on the recent bullish run the cryptocurrency space is witnessing the world’s largest crypto exchange digital token (BNB) has displaced Tether (USDT) to become the third-largest crypto by market capitalization.

Binance coin, according to data from Coingecko rose by 47% in the last 24 hours and traded at around $259, pushing its market capitalization to $38 billion, which invariably displaced Tether, the biggest stablecoin as the third-largest crypto.

In addition to becoming the third-largest digital asset by market cap, BNB also recorded a major increase in daily trading volumes. BNB saw its average daily trading volume set a new all-time high, increasing from $9 billion to $14 billion in 24 hours.

Reacting to the impressive growth of the digital asset Binance CEO Changpeng Zhao said the token’s recent rise has always been the exchange goal. According to him, Binance has been nurturing the asset to grow a bit faster than BTC.

He said, “#BNB not only made ATHs in fiat terms, it just reached ATH again #BTC. From a humble 0.00001 BTC per BNB, we have grown 480x against BTC in the last three and half years. Many thanks to our community, team, and @BinanceAngels.”

#BNB not only made ATHs in fiat terms, it just reached ATH again #BTC. From a humble 0.00001 BTC per BNB, we have grown 480x against BTC in the last 3 and half years. Many thanks to our community, team, and @BinanceAngels. ??? pic.twitter.com/P5oJrNus6J

— CZ ? Binance (@cz_binance) February 19, 2021

Binance’s PancakeSwap growth 

Meanwhile, the Binance token has not been the only exchange feature recording incredible success. Binance Smart Chain-based decentralized exchange (DEX), PancakeSwap, has also recorded a massive growth record.

Pancakeswap, a decentralized finance project that rivals the likes of Ethereum-based Uniswap and SushiSwap. It recently displaced Uniswap to become the largest decentralized exchange by trading volume.

#PancakeSwap delivers.

There is one flippening left. pic.twitter.com/4DwLlAtkyf

— PancakeSwap ? #BSC (@PancakeSwap) February 19, 2021

At the time of writing, PancakeSwap’s current average daily trading volume stands at $1.6 billion, followed by Uniswap with $1.2 billion, according to CoinGecko.

Notably, Pancakeswap enables clients to perform peer-to-peer transactions faster and cheaper when compared to other expensive Ethereum DEXs. Unlike other Ethereum DEXs whose fees can get as high as $1,000 Pancakeswap offers low fees and high speeds.

Additionally, the BNB surpassed Tether (USDT) and managed to beat Cardano and Polkadot. It currently seats behind Bitcoin and Ethereum respectively in third place.

Altcoins Binance Crypto News Featured
Disclaimer
Read More Read Less
The information provided on this website shouldn’t be considered as investment, tax, legal, or trading advice. Morning Tick is not an investment advisory platform, nor do we intend to be. The publication, its’s management team, or authored-by-line doesn’t seem liable for your personal financial losses, which may be due to your panic decisions based on the content we published. We strongly recommend considering our stories as just a piece of information, unlike advice, recommendations, or requests. Some of the contents may get outdated, updated, or inaccurate despite our profound editorial policies. We urge readers to do their due diligence before making any investments decision with ongoing IDOs, ICOs, IEOs, or any other kind of financial offerings. Few outbound links may be commissioned or affiliated, which helps us grow financially and maintain healthy editorial norms. For more information, visit disclaimer page.
Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
Previous ArticleBinance coin (BNB) and PancakeSwap (CAKE) soars to ATH in parabolic rally
Next Article Polkadot (DOT) will hit $40, affirms the bulls in the market
Staff Reporter
  • Facebook
  • Twitter
  • Tumblr

Staff reporter brings the latest financial technology, cybersecurity news and tech updates.

Recommended Posts

Introducing Lucky Mystery Box, Crypto lottery based on TRON with a prize pool of 1M USDT

2 months ago

GlobalDots joins forces with Coralogix to save companies 40-70% on full-stack observability costs, launching a debut CDN log management solution

3 months ago

Unplugged launches its mobile App Suite to help consumers reclaim their privacy

5 months ago

Oxford United FC joins the mental health conversation through new sponsorship

6 months ago
Add A Comment

Comments are closed.

Latest

Introducing Lucky Mystery Box, Crypto lottery based on TRON with a prize pool of 1M USDT

2 months ago

GlobalDots joins forces with Coralogix to save companies 40-70% on full-stack observability costs, launching a debut CDN log management solution

3 months ago

KX.finance announces upcoming DeFi/DEX aggregator launch on APTOS/SUI blockchain

5 months ago

HyperBC Group unveils Zero interest Crypto Credit Card HyperCard, obtains Lithuanian Financial License

5 months ago

Unplugged launches its mobile App Suite to help consumers reclaim their privacy

5 months ago
Morning Tick
Facebook Twitter Instagram Pinterest RSS
  • About Us
  • Press Toolkit
  • Disclaimer
  • Contact Us
  • Privacy Policy
  • Sitemap
© 2023 Morning Tick. Disclaimer: The information provided on this website shouldn't be considered as investment, tax, legal, or trading advice.

Type above and press Enter to search. Press Esc to cancel.