Binance Coin (BNB), the native token of crypto exchange Binance, has just become the third largest cryptocurrency in the market by market cap.
According to data provided by resources CoinGecko and CoinMarketCap, the asset's market capitalization surpassed that of the stablecoin Tether at around 4:00 UTC on Friday, currently standing at $40B.
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While the altcoin has been in the top 10 for some time, this is the first time it has broken into the top 3. For example, on January 31, BNB occupied the 10th position in the CoinMarketCap ranking with a price of around $40.
However, the coin's current price is much higher, at around $260, which has helped it climb so many positions.
At the moment, the crypto is trading at $262.68 after experiencing a spectacular growth of 42.17% over the last day and 109.14% over the last week.