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Binance Coin (BNB) is now the third most valuable cryptocurrency in the world after it surged more than 100% in the last seven days. The total market cap of BNB crossed $40 billion today, more than Tether (USDT) at $33 billion according to data from coinmarketcap.com.
The native coin of the cryptocurrency exchange, Binance, started this year at a price level of $37. the price registered an all-time high of $275 on 19 February. The market cap of the digital asset is up more than 500% in the last 6 weeks.
READ MORE: Bitcoin Set To Be A $1 Trillion Asset
This is because of increased interest in decentralized exchanges and a relatively new decentralized finance (DeFi) project known as PancakeSwap.
Binance Exchange has seen a rapid increase in trading volumes during the last few months amid growing interest from retail and institutional investors.
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