The cryptocurrency world is going through hectic days like never before. Bitcoin, which equaled its own record since the end of the year, reached the top with its new value.
Apart from Bitcoin, there is also activity in altcoins. Ethereum, which has a different cryptocurrency infrastructure compared to Bitcoin, has recently seen its historical peak.
However, in addition to all these, Binance’s crypto money (BNB), one of the world’s largest Binance crypto currency exchanges, attracts great attention. The BNB value, which has been on the rise since January, broke a record on record today.
Bitcoin ignited crypto money market took flight
Bitcoin has become the most determining power of the market with its market cap and being the first virtual currency.
At the end of the year, the value of Bitcoin reached the level of 30 thousand after exceeding the level of 20 thousand dollars. In fact, the virtual money, which broke a record with 41 thousand at a time, returned to the level of 30 thousand dollars afterwards, worryingly.
However, the value of Bitcoin, which exceeded the level of 50 thousand dollars in a few days this week, has now reached the level of 55 thousand dollars. Bitcoin, which has become the locomotive of the crypto money market, seems to have paved the way for the rise of other crypto coins.
Ethereum value has reached the level of $ 1968 today and broke a new record. Predictions have exceeded $ 2000 for Ethereum value.
However, as the cryptocurrency market is very volatile, experts avoid providing investment advice. However, apart from locomotive virtual currencies such as Bitcoin and Ethereum, Binance crypto money also attracted great attention during the day. But why is BNB rising?
BNB broke a record and became the third largest coin in a day
Binance CEO Changpeng Zhao explained the recent price increase that raised questions about why BNB is rising:
“We’ve always aimed to grow a little faster than Bitcoin. I’m not talking about surpassing Bitcoin, but we want to see it grow a little faster with the effort we put into it. Otherwise, we should just buy Bitcoin and not work. ”
The BNB value, which was around $ 32 before January, gradually increased to $ 50 at the end of January. BNB value broke historical records one after another in February. BNB, which first exceeded the levels of $ 100, $ 120 and $ 180 and $ 190, even passed the $ 300 limit today.
The BNB value rose slightly above the $ 347 level during the day. The crypto money, which has been selling after this level, has regressed to the level of 280 dollars and is now at the level of 300 dollars. In this sense, the BNB value increased by more than 70 percent during the day and broke a great record in terms of its history.
In addition to the great increase in market value, BNB reached up to $ 14 billion in daily transaction volume. It also faced a huge increase in daily trading volumes. Binance Coin’s average daily trading volume was only $ 9 billion yesterday, but today it has reached an all-time high of $ 14 billion.
BNB market cap surpassed the largest stablecoin Tether (USDT) by about $ 5 billion, according to crypto tracking resource CoinGecko data. In this sense, BNB has risen to the third largest crypto currency.