Binance cryptocurrency (BNB) has overtaken Tether (USDT) as the third largest currency

Since the beginning of the year, Binance (BNB) has grown by more than 500%.
The boom in the BNB cryptocurrency has been linked to the growth of the Binance Smart Chain.
this currency is likely to rise to 500 before the end of the year .

The Binance Coin (BNB) has grown significantly in recent days, reaching a market cap of $ 40 billion. The impressive rise has helped the coin move to third position based on market capitalization.

This means it has also overtaken Tether, which was previously in third position before BNB's rise.
The cryptocurrency's surge saw the coin grow 36% within 24 hours. The weekly stat is also impressive, having gained more than 100% in the last seven days. However, the 530% gain since the beginning of the year is even more impressive. But the token's extraordinary momentum started on Feb. 18 and has never stopped rising.

On Friday, Binance (BNB) hit a record high of $ 250 from less than $ 150 a week earlier. This makes it one of the biggest winners of the week.

It means that more users are now looking to buy BNB and have seen that the token has the potential to rise in the short term. Currently, the top 5 cryptocurrencies by market cap are now Bitcoin (BTC), Ethereum (ETH), Binance (BNB), Tether (USDT) and Polkadot (DOT).

The growth of Binance Smart Chain

There is no doubt that the main propeller of the BNB's price hike is the Binance Smart Chain. The chain has seen some success and provides support for certain elements of decentralized financing.

CoinGecko recently made an interesting revelation, stating that Venus and PancakeSwap are the two biggest winners in the crypto markets. Unsurprisingly, they both run on Binance Smart Chain.

PancakeSwap offers an exchange service that works like decentralized protocols such as SushiSwap and Uniswap. The protocol has recorded the highest volume compared to any decentralized exchange on the Ethereum platform in the last 24 hours.

Binance CEO Changpeng Zhao has even tipped BNB to overtake Ethereum, which is currently the second largest cryptocurrency by market cap. However, his comments irritated some members of the crypto community who claimed that the gap between the two crypto assets is still huge.