So far, Binance Coin has had a record-setting month. February only has around a third still to go, and the month is already the greatest candle in the asset’s history dollar for dollar.
The surge continues, bringing the price per BNB token to over $300 per token as of today. With 154 million and some odd BNB tokens in use, this resulted in a $48 billion market value, currently almost $15 billion ahead of the next largest crypto asset – the stablecoin Tether.
Tether’s market cap is based solely on supply, as its price is related to the dollar and does not fluctuate greatly. Tether has had the number three spot for some time, taking from XRP as it sinks even further down the chart of top cryptocurrency by market cap.
According to newsbtc.com, XRP enjoyed the third rank for years after it got there, and only recently started its decline due to an ongoing lawsuit filed by the SEC against Ripple.
Binance Coin, though, was only cracking the top ten until this month and is now right behind only Ethereum and Bitcoin in terms of overall capital.