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The third largest cryptocurrency rose 1300% in 2021: Can it threaten Bitcoin?

The third largest cryptocurrency rose 1300% in 2021: Can it threaten Bitcoin?

By comparison, Bitcoin rose 65 percent, while Ether, the second-largest token, rose 408 percent.

This year, the old guard of cryptocurrency has lost its position in relation to tokens with higher yields.

Researchers predict that the trend could continue.

Among the three largest digital tokens, in terms of market value, Binance Coin, or simply BNB, has significantly surpassed its two major rivals – Bitcoin and Ether.

Coin, issued by the crypto exchange Binance Holdings Ltd. – jumped approximately 1,300% in 2021, according to data available to Arcane Research.

By comparison, Bitcoin, the market leader, rose “only” 65 percent, while Ether, the second-largest token, rose 408 percent.

The BNB is widely used on Binance, the world’s largest cryptocurrency exchange.

It is also the home currency of Binance Smart Chain, a blockchain platform that supports smart contracts for use in decentralized finance (DeFi) and other applications.

As the BSC gained supporters over time, it helped increase profits in the BNB token, according to Fortune.

Other alternative coins, or “altcoins”, made big gains in 2021, thanks to an “explosion” of investor interest in digital assets and the expansion of crypto ecosystems.

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