Binance Coin (BNB) has strengthened its market capitalization to position itself as one of the world’s largest cryptocurrencies. Following a 100% rally since the beginning of the month, BNB now ranks number three, behind Bitcoin and Ethereum.
The increasing demand for Binance Coin has been fueled by the success of Binance Smart Chain (BSC). Transaction volumes have surpassed those on the Ethereum blockchain, making speculators claim this protocol will become the world’s main settlement layer.
According to block explorer and analytics platform BSCScan, the daily transactions on BSC surpassed the 9 million mark on April 21, representing a 25,700x year-to-date increase.
Meanwhile, large investors have been accumulating Binance Coin at an exponential rate. On-chain data shows a significant …