BNB Overtakes ADA by Market Cap, Yet Again
2 min readBNB has overthrown ADA, regaining the fourth-place spot. The difference between the market capitalization of both currencies remains well under $1 billion.
BNB has now overtaken ADA. The race for fourth place on the list of the world’s largest cryptocurrencies continues to gain momentum.
After momentarily grabbing the position, Cardano’s ADA has been flipped again by Binance’s BNB.
Both digital currencies have been on a wild run since the beginning of the year. They both flipped a stable coin, Tether (USDT), for third place on separate occasions last month before running out of steam.
BNB is undoubtedly one of the top gainers this year as its Binance Smart Chain gains traction. It has come a long way since it crossed $100, becoming the seventh-largest cryptocurrency by market capitalization last month. With many users looking towards the platform as an alternative to Ethereum due to the latter’s annoyingly high fees, a surge in price is expected.
Over the past week, ADA has retraced by 12%, while BNB lost 7%. On the 24-hour price chart, both digital assets have dipped, but BNB managed to regain the fourth spot on the cryptocurrencies listed by market capitalization.
Currently priced at $232, BNB has a market capitalization of over $36 billion, while ADA’s price stands at $1.12 and has a market cap of about $35.7 billion.
The volatility of the markets means that the difference in their market capitalization is not very insignificant. As it is with crypto, anything is possible, and ADA can end up taking the day.
BNB & ADA in the News
Cardano developers laid out a 5-way roadmap for its upgrade. The Mary hard fork upgrade, which is the third stage, officially went live on the 1st of March.
The next stage is named for computer scientist Joseph Goguen and will introduce smart contracts on Cardano. It is scheduled to be released on the 31st of March.
There have been loads of activities in the BNB camp of late. Binance Smart Chain proves to be a worthy alternative for Ethereum, and CZ has continued to champion the cause.
The platform recorded more daily transactions than Ethereum at some point last month. Its largest automated market maker and decentralized exchange, Pancake Swap, recently became a billion-dollar project.
$CAKE becomes the first billion dollar project on #BSC.
Congrats to @PancakeSwap team! Well done!
pic.twitter.com/y3cnEwuFXs
— CZ
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