BNB price momentum has been bullish recently, with Feb. 22 marking another milestone. The cryptocurrency soared to $387, its highest value since November 2022, showcasing a remarkable 9% increase in the last 24 hours.
BNB's price rise in the last 24 hours coincides with Bitcoin's 2.5% drop versus the U.S. dollar.This divergence is particularly pronounced in the BNB/BTC trading pair, which has seen an increase of over 11%, highlighting a significant shift in market dynamics between these top-ranking cryptocurrencies. Simply put, traders are potentially rotating out of the Bitcoin market to seek safety in BNB. That is further visible in BNB’s market dominance, which has jumped from 2.74% to 2.99% in the last 24 hours.
