Binance Coin Skyrockets to New ATH as BNB Market Cap Tops $100 Billion

Binance’s native crypto asset has been on a roll in 2021, resulting in breaking into uncharted territory quite regularly. With the latest record coming a few hours ago above $650, the asset’s total market cap went into a nine-digit territory. 

  • After the start of the ongoing crypto bull run in October last year, Binance Coin seemed somewhat trailing behind. While bitcoin and other digital assets were surging with double-digits monthly and reached new records by the end of 2020, BNB stood behind.  
  • Binance’s native crypto entered the new year at $40 and even dropped out of the top ten coins by market cap at one point. 
  • However, the tides changed rather emphatically in the following weeks and months, and BNB went on a roll. 
  • In less than two months after the start of 2021, Binance Coin’s value expanded by eight-fold to over $320.  
  • Although the cryptocurrency retraced and stalled in March, it resumed the impressive performance in early April and broke into uncharted territory once again. 
  • BNB jumped above $600 in the next few weeks, but May has started even better. It took less than three full days for the asset to break its previous record, and the latest one came just a few hours ago at $655 (on Binance). 
BNBUSD. Source: TradingView
BNBUSD. Source: TradingView
  • Additionally, BNB’s market capitalization also reached a significant milestone by exceeding $100 billion for the first time. Thus, Binance Coin became just the third cryptocurrency with a market cap consisting of nine (or ten in BTC’s case) digits. 
  • As such, BNB’s market cap has surpassed some notable names outside of the crypto industry, including Micron Technology, Fidelity National, and Volkswagen AG.  

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