BNB capitalization exceeds $100 billion for the first time as Binance token rally resumes

The total value of all Binance Coin (BNB) tokens this Monday exceeded $100 billion for the first time. At the current capitalization, BNB is the third largest asset on the crypto market after bitcoin and ether. The indicator of the latter today also reached a new record above $368 billion.

At the time of publication, BNB continues to update the highs and is quoted at $652.15. In early April, the price of BNB first reached $600, but subsequently fell back to $430. The growth of BNB comes amid increased activity in the Binance Smart Chain (BSC) blockchain. Other assets of its ecosystem are also setting records. Thus, the tokens PancakeSwap (CAKE) and BakerySwap (BAKE), two of the most famous automated BSC markemakers, rose in price by 36% and 500%, respectively, in 7 days.

Investors are not afraid of the spread of fraudulent projects and hacks on BSC, the number of which increases along with the hype. Over the weekend, Spartan Protocol, which specializes in collecting liquidity and synthesized assets, lost more than $30 million due to a "vulnerability in the calculation of liquidity shares." A few days earlier, Uranium Finance lost more than $50 million.

Binance CEO Changpeng Zhao gave an interview to Bloomberg today, during which he drew attention to the low volatility of cryptocurrencies compared to shares of companies of comparable size. Note that the 60-day volatility of bitcoin has been declining since the beginning of this year, but so far it remains significantly higher than the performance of Tesla and Apple shares.

"Volatility is ubiquitous, it is not unique to the cryptocurrency market," Zhao said. – There will always be those who do basic research and understand assets. Some people understand BNB better than I do. There are also those who follow the crowd. There are always more of them. They cause volatility, but the same thing happens in the stock markets."