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Binance Coin Skyrockets To A New All-Time High And Overtakes BCH In Market Cap

Following the bullish behavior of the cryptocurrency market, Binance Coin (BNB), the native digital currency of the world’s largest cryptocurrency exchange Binance has also witnessed a significant rise in its price value. BNB has spiked high to register an all-time high value. This led Binance Coin to overtake Bitcoin Cash (BCH) in terms of market capitalization.

BNB Price Sets New ATH At $56

Binance’s in-house cryptocurrency has seen its price value rising high potentially earlier today as it reached the $56.14 mark on February 4, 2021, on Thursday. This is an all-time high value for Binance Coin as it has hit this price figure for the first time.

BNB has achieved this milestone amid the ongoing bullish rally of the world’s second-biggest digital asset Ethereum (ETH), which also recorded its fresh all-time high at around $1690 earlier on Thursday. It is now one of those altcoins that have entered into the bullish cycle.

As per CoinMarketCap (CMC)’s data, the price value of BNB is trading up by over 31 percent during the last seven days. While on the other hand, the price of Binance Coin is revolving at around $55.60, with an impressive price increase of more than 7.50 percent over the last day. The holders of BNB are very optimistic about the performance of the coin in the near future as they expect the digital currency to climb above the figure of $60 and make a new high. In a technical view, this is the next major resistance level for this digital currency.

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Binance Coin Surpasses Bitcoin Cash (BCH) In Market Value

This excellent price rally of Binance Coin has helped the coin to outshine Bitcoin Cash (BCH) in terms of market value. When the price of BNB rose high to its ATH, the market cap of the coin also jumped up and crossed the figure of $8.6 billion.

With this market capitalization, BNB has now become the world’s ninth-biggest digital currency. Bitcoin Cash, on the other hand, is now standing on the tenth spot with a market cap of $7.9 billion, according to the CMC’s data.  

📰 Also read:  Bitcoin Crosses Above $67k as Traders Navigate 'Liquidity Hunt' Post-Rally

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Mubashar Nawaz (United Arab Emirates)

Mubashar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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