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This week has seen Binance coin (BNB) breach into the top 10 flipping Tron (TRX) Stellar (XLM) and now Tether, but can it continue this rally all the way into the top 5?
Currently citing gains of over 15% and at a price of $15.46, BNB has decidedly continued on its rally, now responsible for leading the path for the rest of the top 100.
With 150% gains since the start of 2019 50% of which was accumulated over the past 7 days, BNB looks poised to attempt to flip Bitcoin cash (BCH) for 6th position.
In comparison, BCH has had a fairly poor run this week citing a negligible +0.5% gain. Its current market cap sits at around $233 million compared to BNB which is at a tantalizingly close $231 million, making it almost certain that BNB will flip BCH imminently.
The community reaction to this BNB run has been varied, with a few people rallying behind the cyrptocurrency:
Binance just took the # 7 spot now.
— Tommy Mustache (@MustacheTommy) March 6, 2019
Wait until the next wave of new users come on board in year 2020. Many of them will sign up with Binance and make it the clear leader in the exchange market.#BNB is 🔥🔥🔥 Up over 85% in the past 30 days now.@cz_binance @binance $BNB pic.twitter.com/fGDPzNZhYB
$BNB up 40%+ since the last tweet, this almost felt like a free trade? because of the reasons I listed before
— Moon Overlord (@MoonOverlord) March 6, 2019
Binance DEX hasn't even launched yet
When top 5? pic.twitter.com/4R5m18NnqR
There you have it, folks! $BNB is now #7 on CoinMarketCap. 🚀💪
— GOJ🌱RA (@G0JlRA) March 6, 2019
Congrats @cz_binance @binance ! pic.twitter.com/9Amn2I6l0Y
whispers ᶜᵒᵘˡᵈ ᴮᴺᴮ ᶠˡᶦᵖ ᴱᵀᴴ
— Moon Overlord (@MoonOverlord) March 6, 2019
However, one user posited that BNB was close to its high, advising investors to stay away:
Just by reading the tweets I can tell that $BNB is really close to the euphoria phase, if not already there. Smh
— Mitoshi Kaku 👨🏻🚀 (@CryptoSays) March 6, 2019
I can easily see now how guys that were here before me are so good at spotting top/bottoms without a single chart...
Despite the sheer momentum driving BNB right now, it seems as if BCH will be the last positive flip we see from the cryptocurrency for a while.
Litecoin (LTC) currently guards entry to the top 5, with a massive market cap of over $2 billion, compared to BNB’s $231 million. BNB would have to gain more than +800% in order to get close to the top 5. But anything can happen, this is crypto, after all.
Read more: Justin Sun calls BNB the "new Bitcoin" after 120% rise since January