Cryptocurrency

Binance Coin BNB With Market Cap of $1.15 Billion Rises to The Top Ten

eToro

Leaving cryptocurrencies such as Cardano, Bitcoin Cash SV behind- Binance Coin BNB is rocket launching into the top ten list.  It has grabbed the tenth position by the total market cap. Just fourteen days ago it was on the twelfth spot as per IOTA.

BNB has mustered a 14 percent gains, giving the crypto-coin a total market cap of 1.15 Billion U.S. Dollars.  Its competitor Bitcoin SV is running quite close to it when it comes to the market value with- 1.02 Billion U.S. Dollars. If one connects the dot, one can credit the surge to the recent announcement by Binance about its new launchpad project- Fetch.Ai. An excerpt from the official announcement reads as-

eToro Crypto

(Fetch.Ai) “Brings together machine learning (“ML”), artificial intelligence (“AI”), multi-agent systems and decentralized ledger technology to create an economic internet. The goal of the project is to “automate a limitless number of markets which currently require tremendous manual intervention.”

Although last year the trading volume on Binance faced a downturn of forty percent despite the success of the exchange.

More news from the Binance world involves a recent announcement by the CEO of the company about the Binance Chain Launch. The chain is constructed on the ‘Tendermint protocol.’ The protocol has been developed by ‘Cosmos Network project.’ A few hours ago the CEO of Binance- Changpeng Zhao announced the date of the launch. It will go live in a test mode on 20th February. As per his post on the twitter-

The CEO of the company said that the construction of the Binance Chain is in synch with the new cryptocurrency trading platform. As per the reports from FXSTREET, the ‘Binance DEX blockchain will operate on Delegated Proof of Stake, DPoS and Byzantine Fault Tolerant, BFT.’ Zhao further added that the Binance Chain is like a Tendermint fork that comes with restricted functionality. The company has taken away the smart-contracts and other features that were not required by the project. The CEO thinks that ‘high performance’ should be prioritized over juxtaposing a lot of functions that are not even required.

Yes, the users of Binance will be allowed to issue tokens on the Binance Chain. They will also be able to launch ICOs so that they can raise funds in BNB tokens. On the other hand, Binance  Coin BNB has reached an all-time high in competition with Bitcoin at 0.0026880 BTC. It has managed to reach $9.68 value against the USD. As per the press time, it has gained 0.85 percent.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button