Binance Coin became the third-largest crypto by market capitalization on February 18th thanks to the serious rally in the crypto market. Since January 2021, BNB generated over 570% of returns, representing one of the top gaining coins for the year. Moreover, as the rally continues, BNB remains the third-largest crypto by market cap with the opportunity to set new highs. The next price target for the top-third crypto might be 350$, however, BNB will be able to reach it only after finding support at 315$ from its current price of 267$. How Binance Coin became the third-largest crypto by market cap? What are the odds for BNB to reach the value of 350$ in April and the end of March?
How Binance Coin Became the Third-largest Crypto by Market Cap?
With the development of the Binance ecosystem, BNB, the native coin to the top exchange is also progressing in the sense of gaining more on its value. Combined with a bullish start of the year for the cryptocurrency market with Bitcoin’s awing scores, BNB also rose to the top. Binance Coin is recording over 2,100% for the year, representing one of the top gaining cryptocurrencies at the moment. All these factors positioned BNB at the third spot on the list of all cryptocurrencies, right behind Bitcoin and Ethereum with 41,3 million dollars in market capitalization. After rising to become the third-largest crypto, BNB reached a new ATH the next day on February 19th, 2021. The new ATH was recorded at the price of 339$. However, BNB is down by -21% since that point. Still, Binance Coin remains the third-largest crypto by market capitalization.
Binance Coin (BNB) Price Analysis March 2021
- BNB is currently trading at the price of 265$ after the latest price correction
- The weekly chart is showing barely 0.2% rises, as BNB is taking on a reverse trend
- The lowest price for the week is set at 253$
- The highest weekly price is 270$
- The yearly chart is showing gains of 2,120%
Image credits: Cover photo take from bitcoin.es
