Over recent days binance coin has surged past stellar and tron to become the eighth largest cryptocurrency by market capitalization, with a total value of $1.8 billion, up from just $800 million at the start of the year.
As binance coin has risen, the wider cryptocurrency market has struggled, trading more-or-less flat over the last few months. Bitcoin, still the largest cryptocurrency by some distance, has repeatedly tried to shake off the bearsand move beyond $4,000 per coin over recent months only be swiftly knocked back.
The recent success of binance coin, which is still some way off its all-time high of $24 per coin, has been taken as a broad vote of confidence in the bitcoin and cryptocurrency market.
Read More.. Source Forbes