Breaks de Binance $ 630
Binance Coin continues to steadily move towards $700. The daily high of the price of one BNB today broke the $637.44 mark, according to CoinMarketCap.
At the beginning of this year, the price for the token of the world's largest cryptocurrency exchange Binance was only $37.54. Now it hovers around $600. BNB is showing clear bullish momentum, approaching new records with enviable consistency as the crypto market is gaining in value. Today, the coin has broken through the 35% mark of Ethereum's market cap and is trading at $585.30.
The reason for this growth was, among other things, problems with the Ethereum blockchain. It is overloaded and cannot yet provide users with more loyal gas prices. Therefore, one of the most relevant topics has become Binance Smart Chain, which is positioned as an alternative to the Ethereum network. In addition, it meets the requirements of DeFi projects that have become a trend over the past year.
The Ethereum team should seriously consider the growth of a potential competitor looming over them, reaching a third of their size. Not to mention more loyal commissions, faster processing of money transactions, and the fact that the DeFi project Binance Smart Chain PancakeSwap has overtaken the leading DEX Uniswap.
BSC recently hit another record of 5 million transactions in one day, four times the size of Ethereum. The growth rate of BNB is unlikely to "crush" the bears, but what can really hinder the exchange token is the lack of decentralization and network security.
Can Binance Smart Chain become the leading foothold for DeFi projects, leaving Ethereum behind?