Binance Coin ($BNB) has recently seen a notable achievement in terms of price surge. As per Lookonchain, $BNB has surged by 16% during recent 7 days, exceeding Solana ($SOL) in market capitalization while Binance Chain is leading EVM transfers. The on-chain analytics platform discussed this development in an exclusive X post.
$BNB Surpasses $SOL Based on Market Cap Parallel to a 16% Price Increase
Lookonchain’s data shows a remarkable spike in the price of the $BNB token. The crypto token has reportedly surpassed the $96B in terms of market capitalization, effectively flipping $SOL. As a result of this, the crypto token has reclaimed its status as the 4th-biggest crypto by market cap. The data reveals that $BNB is currently changing hands at $663.89. This signifies a robust 4.7% profit over just recent twenty-four hours.
During the previous week, $BNB’s price presented it as a standalone performer within the market. In this respect, it outpaced many prominent crypto assets, such as Ethereum ($ETH) and Bitcoin ($BTC). Both of these cryptocurrencies have gone through losses in the meantime. $BNB’s trading volume maintains a robust position, with more than $1.66B exchanged during the recent 24 hours. This indicates a continuous rise in the investor confidence. This bullish momentum partly resulted from a boost in BNB Chain’s activity. This fortifies its position as a top EVM-compatible chain when it comes to transfer volume.
Significant Upsurge Displays Persistent Spike in Adoption
According to Lookonchain, BNB’s latest price rally and improved transfer volume underscore a resilient market presence as well as surging adoption. Based on its competitive advantage in the case of transfer speed and scalability, BNB Chain maintains its position as a chief player within the blockchain realm. However, it remains to be seen whether the respective momentum continues or not.
