As of May 20, 2023, Binance Coin (BNB) is the fifth-largest cryptocurrency by market capitalization, with a value of over $30 billion.
There are a number of factors that have contributed to BNB's surge in popularity. First, Binance is one of the most popular cryptocurrency exchanges in the world. The exchange has over 10 million users and processes billions of dollars in transactions each month.
Second, BNB is increasingly being used to pay for fees on the Binance exchange. In January, Binance announced that it would be reducing trading fees for users who pay with BNB.
Third, BNB is being used to power a number of new projects on the Binance Smart Chain. The Binance Smart Chain is a decentralized blockchain that is compatible with the Ethereum Virtual Machine.
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