BNB price surges as Binance Smart Chain grows in popularity with DeFi
Binance Coin (BNB) has been on an absolute tear in the month of February. It traded at $48.93 on Feb. 1 and grew to trade at $304 at the time of publication, amounting to a 521% month-to-date gain and 707% year-to-date gain.
This price rally has led BNB to become the third-largest cryptocurrency, with a $46.5 billion market capitalization. BNB achieved its all-time high of $342.88 on Feb. 19. This price rally and leap in market capitalization could be attributed to Binance Smart Chain gaining popularity within decentralized finance markets and other macroeconomic factors driving the growth of flagship assets like (BTC) and Ether (ETH) to new all-time highs this week.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.