To date, Binance Coin has rallied 900%, which makes the token’s $64 billion market cap larger than Santander, the Bank of Montreal and UBS.
2021 has been an impressive year for Binance Coin (BNB), which so far has rallied by more than 900%.
One of the primary drivers of BNB's growth was continued congestion on the Ethereum network. As this struggle carried on, Binance Smart Chain (BSC) emerged as an alternative, meeting the rapidly growing decentralized finance (DeFi) sector's demands.
As BNB reached a $64 billion market capitalization, it has surpassed traditional banks, including Santander, the Bank of Montreal, and UBS. Meanwhile, some analysts point to the estimated value and impact of Coinbase's upcoming direct listing ($100-billion valuation) as a catalyst for the BNB price hike.
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Binance Coin (BNB) market cap passes Santander and UBS — What’s next?