The daily growth in the value of the BNB cryptoasset was more than 50%. Binance Coin traded at $160 yesterday, and today the BNB price has reached an all-time high of $270. At the time of writing, BNB is trading at $269.
A new all-time high was achieved thanks to the increased interest in decentralized exchanges and a relatively new Decentralized Finance (DeFi) project known as PancakeSwap. The platform has shown rapid growth in recent weeks, overtaking Uniswap to become the largest DEX in terms of trading volume.
According to CoinMarketCap, the market capitalization of BNB, the cryptoasset of the Binance exchange, has surpassed $41 bln. This allowed Binance Coin to take the third place in the top 10 cryptocurrencies by market capitalization, overtaking the stablecoin USDT.