After the 1011 crypto market massacre, apart from Bitcoin and Ethereum, the mainstream cryptocurrency that has rebounded the most recently is undoubtedly Binance's platform coin BNB. According to Binance's spot market data, since the cryptocurrency market rebounded last night (12), BNB quickly recovered its previous losses today (13) and rushed to $1,375 in one fell swoop, setting a new record high.
Will BNB enter the global top 100 assets next?
According to the latest data from 8marketcap, as BNB hit a new high again, its market value has reached US$189.5 billion, officially rising to 105th place in the global asset ranking. If its market value expands by another US$6 billion, it is expected to officially enter the top 100 global assets.
Why does BNB keep hitting new highs?
Market analysis shows that the main reasons why BNB was able to rise rapidly in this rebound and continue to set new historical highs include:
First, despite the fact that Binance users experienced liquidation due to abnormal price fluctuations of some tokens on the platform during the October 11 market crash, Binance has actively implemented remedial measures and announced today that it has spent nearly $300 million to compensate affected users, thus winning the trust of investors.
Secondly, the recent meme coin craze on BNB Chain. During the market crash, some meme coins on BSC did not experience a serious decline, and some even hit new highs. This continued to attract investors to BSC to seek gold, and the BSC ecosystem also benefited from this;
Finally, today, Binance co-founder He Yi also stated that BSC will also enter the currently very popular prediction market , and YZi Labs is also willing to invest in it, which further opens up investors' imagination of the Binance ecosystem.
