Binance Coin (BNB) ended 2021 with a 1,200% yield

Binance Coin (BNB) price-performance ratio ended 2021 with a staggering + 1200%.

The price of Binance Coin (BNB) in 2021

In fact, Binance Smart Chain’s native cryptocurrency went from a price of little more than $ 40 to more than $ 450 today in just twelve months.

The historical maximum was reached on May 6, 2021, when it reached the $ 690.

It is worth noting that from the beginning of the year to the peak on May 10, the profit percentage exceeded 1,500%.

Thanks to this incredible jump, BNB has entered the top 3 strongly of the cryptocurrencies with the highest market capitalization, a position that currently seems unattainable for all the others, at least in the short term.

At around $ 85bn in market capitalization, it is still far behind Bitcoin’s $ 870bn and Ether’s $ 450bn, but excluding USDt it is well above Solana’s $ 50bn.

Just a year ago, its market cap was around $ 6 billion, compared to, say, $ 0 billion from XRP and $ 8 billion from Cardano (ADA), so it’s not only up two places, but It has now moved well ahead of its former rivals at around $ 40 billion.

The DeFi boom dragged BNB down

The reasons for the rise of BNB

BNB’s success, especially in the first months of the year, is mainly due to the éxito de DeFi en Binance Smart Chain.

Even though the second largest blockchain for TVL in DeFi is now Luna, Binance Smart Chain even seemed capable of challenging Ethereum’s leading role in this area in early 2021.

As a result of this boom, BNB’s share price rose dramatically, although in the end, the TVL on Binance Smart Chain stopped at just over $ 15 billion, with Luna topping $ 18 billion, and Ethereum still topping $ 150. billion.

The fact is that behind BNB there is not only Binance Smart Chain but, above all, the global crypto giant Binance, the most used cryptocurrency exchange in the world.

Therefore, it is not surprising that behind Bitcoin and Ethereum, the most successful cryptocurrency is currently BNB, although the most used token in the world is still USDt, which is not a real cryptocurrency.

The “war” between DeFi blockchains

It is worth noting that, excluding Solana with + 6,800%, BNB was the top cryptocurrency with the highest profit acquired in 2021, as BTC posted + 50%, ETH + 270%, XRP + 250%, and ADA + 500%.

Solana, however, is a good example, because it literally only flourished in 2021, while BNB had already debuted long before, especially in 2019.

It should also come as no surprise that BNB’s price performance has been consistently negative since May, precisely because New high-performance blockchains have appeared in the DeFi worldincluding Luna Y Avalanche, Besides the Solana habitual.

In summary, the ‘war’ between the blockchains serving DeFi still continues, even if Ethereum currently continues to dominate unopposed, with the Binance Smart Chain depopulating in the first few months of 2021, later replaced by Luna and Avalanche.

Ethereum remains the most truly decentralized of the blockchains that serve decentralized finance.

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Binance Coin (BNB) ended 2021 with a 1,200% yield

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