Binance Coin (BNB) has seen rapid development this year. The price of BNB is currently around 420 USD. At the beginning of the year, the price was still USD 37, before the upswing hit its all-time high of USD 690 on May 10. According to the Binance CEO, the BNB market capitalization should also approach that of two tech giants in the future.
If the increase continued, it would only be a matter of time before companies like Apple or Amazon were overtaken. Binance CEO Changpeng Zhao is certain that this could become a reality in the foreseeable future.
Crypto Youtuber Davinci Jeremie tweeted: “I think that BNB will be bigger than Amazon or Apple because it is a share, cryptocurrency and has a smart chain.” Zhao contradicted the Youtuber that BNB are shares. He agrees with Jeremie on the other points.
The assumption here probably relates to the long-term course. With a BNB market capitalization of around USD 65 billion, a short-term increase to over 1 trillion is unlikely — despite the immense increase in value so far.
Apple’s market capitalization is $ 2.09 trillion, while Amazon still comes in at $ 1.63 trillion. For comparison: The market capitalization of all cryptocurrencies according to coinmarketcap currently amounts to 1.75 trillion USD — Bitcoin has the largest share of this with 730 billion USD.
So, at the moment, the value of BNB is still a long way from the two companies. However, the crypto market has already impressively demonstrated that increases in value are possible much faster than in the stock market. It took Apple 42 years to reach a market capitalization of $ 1 trillion, and Amazon only 24 years. However, Bitcoin cracked this mark after only 12 years.
The ongoing inflation should mean that the mark of a market capitalization of USD 1 trillion should be broken even faster and more often in the future.
The fact that BNB does not have a bad outlook is not necessarily absurd due to the acceptance and spread on the market. The Binance Coin was brought onto the market by the crypto exchange of the same name and is suitable, among other things, for paying transaction fees or creating smart contracts.
Among other things, the token burns make the coin very popular with investors. Here Binance burns part of the tokens it owns in order to reduce the supply and to generate an increase in value. In terms of market capitalization, BNB is currently the third-largest cryptocurrency in the world. Only Bitcoin (730 billion) and Ethereum (330 billion) are more valuable.
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