Due to its high utility and constant growth, BNB ranks fifth by market capitalization among all cryptocurrencies, trailing only Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). BNB's market cap estimate fluctuates frequently due to the volatility of the cryptocurrency market, but consistently remains one of the largest on the platform.
In fact, BNB has a huge number of users and developers, which contributes to the growth of its capitalization every year. The high level of trust in Binance, the continuous development of Binance Smart Chain, as well as the support of various financial and technical solutions contribute to the increase in demand for BNB.
Reasons for BNB's popularity
Binance Support: Binance is one of the largest cryptocurrency exchanges in the world, and its popularity directly contributes to the popularity of Binance Coin. The Binance platform continues to improve its services, which has a positive impact on the value of BNB.
Binance Smart Chain Functionality: With the launch of BSC, BNB has gained a new role in the DeFi (decentralized finance) ecosystem, making it an important tool for many users and developers.
Burn mechanism: The policy of burning tokens to reduce supply has a positive impact on the price, making BNB a deflationary asset.
Use in numerous projects: BNB is used not only on Binance, but also in other projects built on the Binance Smart Chain, which increases demand for the token.