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Binance Coin (BNB) Enters The TOP-10 Cryptocurrencies By Capitalization

Binance Coin is one of the few coins that resist a bearish attack on Wednesday, February 6. Markets have gone down since Asia started the trading. About 24 hours ago, the price of BNB was below $7, but now it has spiked and is going up. During the day, the price of the coin reached the level of $8.26, which is the peak price since mid-November of 2018.

Traders and analysts believe that one of the catalysts for the Binance Coin growth could be the new Launchpad project called Fetch.Ai. According to the report, the project

“brings together machine learning (“ML”), artificial intelligence (“AI”), multi-agent systems and decentralized ledger technology to create an economic internet,” with a goal to “automate a limitless number of markets which currently require tremendous manual intervention.”

The daily trading volume of BNB increased from $76 mln to $111 mln, with 35% of trade volumes being held in USDT. Currently, BNB has reached a market capitalization of more than $1 bln, overtaking both BSV and ADA, and entering the TOP-10 due to the overall market decline. Such growth dynamics can also put BNB on the 9th place, possibly overtaking XLM Stellar capitalization, while the latter is also poorly performing in the cryptocurrency market “red zone.”

Image courtesy of Coin Diary

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