Hello to Hive Fam,
The bitcoin price is good, and it has created another all-time high for this, which is 125k US dollars. BNB is on fire this time, and it has reached its all-time high price. I was late to join the party because when I invested in BNB, its price was around $500, showing my investment is profitable on this coin. However, people who invested in BNB earlier must be pleased.
In the crypto market, it's all about patience and choosing the right project. This kind of price appreciation did not happen in one month or one year, and it has taken many years, so people who invested and kept on holding for the long term are rewarded now, so if they book a profit in the current price, they are going to book amazing returns. If the price goes even higher, it can be even more profitable for them.
Now the PNB coin has overtaken the XRP coin in the market cap, and BNB is not the third-ranked crypto coin in the market. Now the BNB coin has a market cap of $182 billion, placing it behind only Bitcoin and Ethereum in the global crypto market.
Below is the snapshot where you can see that BNB is sitting on rank 3 and XRP is on rank 5, where in between you can see USDT, which is a stable coin, so it does not matter for this coin. Generally top 10 coins are very strong based on the fundamentals, so it is a good choice to invest in them because they're here probably because they've got a bigger community invested in the project.
You can also see Doge coin in the list if I talk about the top 10 but it's a meme coin however we cannot ignore the reality that a lot of people have invested on this coin just because the Tesla founder talked about it and if it can carry its market cap even now when the old market is not doing great So we cannot underestimate the potential this coin has in future. Maybe it is waiting for another hype in the market when its price will grow, that I cannot say, but if it is part of the top 10 listing in the market, then it is clear that its community is strong.
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BNB is a strong coin by its fundamentals, and the reason why it is popular because it is a highly used BSC chain, and as we all know that for all the transactions, some amount of BNB is used, which is minimal, but it is being used, and the adoption for the BSC chain is very high. It is a growing chain, so with growth, you can expect more demand for the BNB coin, and with more demand, the prices are going to rise, which I believe has happened with the BNB coin this time. Thank you!
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Image Courtesy: CoinGecko website
