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Binance Coin (BNB) surged more than 10% as the third-largest cryptocurrency in the world managed to reclaim the market capitalization of $95 billion. In accordance with the recently published data, Binance Coin is now up by over 1500% since the beginning of this year.
Binance Coin (BNB) Surges Above 10%
Beginning its journey with a price level of around $37 this year. At the time of writing this article, BNB is trading above the level of $600 with a market capitalization of $95 billion.
As the third-largest reclaims its market capitalization, it has become even more valuable than some leading financial firms internationally including French banking giant BNP Paribas.
In addition to this, the recent surge in the price of Binance Coin shows that the crypto asset is currently eyeing another ATH above the level of $650.
Binance, the crypto exchange company that is behind Binance Coin has recently stretched its stock token listings with the latest addition of three new tokenized stock pairings.
Moreover, earlier this month, Binance announced the listing of Coinbase stock tokens.
Notable Growth in the Performance of Binance Coin
Binance exchange has seen notable growth in the past few months amid a surge in the demand for crypto trading.
Also, in January 2021, Binance Research released a report on the cryptocurrency market and even mentioned that around 60% of the total users of crypto assets prefer exchanges to store their digital assets.
Since the beginning of the month of April, BNB has gained over 100%, burning a record number of BNB tokens this year being one of the major reasons behind the latest rise in the price of BNB.
Changpeng Zhao, the CEO of Binance, shared a tweet earlier this month and mentioned:
“When you burn coins, they are taken out of circulation forever. It increases the value of the remaining coins.”