Binance Coin [BNB], the native token of one of the largest cryptocurrency exchanges in the world, continued its bullish swing by overtaking TRON [TRX], in terms of market capitalization. The coin is now placed ninth on CoinMarketCap, three spots higher than its position a month ago.
Binance Coin was once again, one of the biggest gainers in the top 10, gaining against the US dollar by a mere 0.43 percent. It was trading at $11.02, a massive 66.96 percent price increase compared to its price a month ago, which stood at $6.60.
At press time, the coin’s total market cap was at $1.55 billion. Furthermore, if BNB’s bullish rise persists, Stellar Lumens [XLM] could also be trailing BNB as XLM is just $60 million ahead of a rising Binance Coin in terms of market cap.
Binance took the top spot in terms of BNB trading volume via the BNB/USDT and BNB/BTC trading pairs, each accounting for 36.67 percent and 29.47 percent of the trading volume.
Following its rise into the top 10, Tron traded steadily before it was overtaken by XLM and was later hit by a February bear attack. The coin’s market cap dropped from $1.81 billion to $1.52 billion and continued to fall, allowing Binance Coin to takeover. At press time, TRX was trading at $0.023 and had fallen by 3.35 percent against the US dollar.
Binance Coin’s consistent market performance over the past few days comes on the back of their parent exchange, Binance, offering a reward to users that test the company’s new ‘decentralised trading platform,’ Binance DEX.
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