Will Bitcoin Cash be ejected from the top 10 list of cryptocurrencies? This question arises as BNB, the in-house coin of the crypto exchange Binance hits an all-time high.
Binance Coin (BNB) recently surpassed the market capitalization of Bitcoin Cash (BCH) on February 4th, Thursday. According to USD, the price of BNB recently hit $55. However, the coin faced an immediate correction following the peak and currently stands below $54.
Analysts note that this recent surge in Binance Coin owes its reason to the surge in Dogecoin. The market, they note, was stirred up again by the influential billionaire Elon Musk. Musk has recently taken a brief break from Twitter before returning to the popular social media site with his fresh opinion. His latest tweet is the major reason behind the surge of Dogecoin. Not just that, for the past few weeks, investors have been waiting for the “alt season”.
BNB Overthrows BCH As The 9th One From The Top 10 Cryptocurrency List
There was a recent study that showed that investing in the top 100 altcoins over the last year harvested more gains than running after the leading cryptocurrencies like Bitcoin and Ethereum. Since then, investors have been expecting the return of the ‘alt season’. Following the post by Elon Musk, BNB CEO, Changpeng Zhao has also made a post promoting its exchange coin and platform.
BNB has now surpassed Bitcoin Cash by taking over the 9th position. BCH is currently relegated to the 10th position in the list of the top 10 crypto assets.
However, BNB is not the only threat overlooking BCH currently. XLM (Stellar Lumen) which currently holds the 11th position in the list was only $700 million lower than Binance Coin when it was at the 10th place. This raises questions whether BCH will be able to hold its status of the top 10 or will it fall lower than that in the time to come.
