Binance Coin hits new high above $400

On Tuesday, April 6, the Binance exchange’s BNB token hit a new high of $400.

As of writing, BNB was trading around $385, according to CoinGecko. The asset’s market capitalisation stands at $59.47 billion.

Binance CEO Changpeng Zhao said that Ethereum’s market capitalisation is only four times larger than that of BNB.

#ETH market cap is only 4x of #BNB now.

I need to shill a lot more #BSC projects… https://t.co/smqCnrTM6b

— CZ 🔶 Binance (@cz_binance) April 6, 2021

Daily on-chain transaction volume on the Binance Smart Chain surpassed 3.9 million — more than 300% of Ethereum’s network, journalist Colin Wu noted.

According to Binance, as of April 5, the number of active addresses in a single day on the BSC reached 370,000, which is 1.1 times more than Ethereum. The 24-hour on-chain transaction volume exceeds 3.9 million, which is more than 300% of Ethereum. pic.twitter.com/D4TPGq5yxm

— Wu Blockchain (@WuBlockchain) April 6, 2021

In January 2021, Binance burned 3,619,888 BNB, worth about $165.8 million in fiat terms. The previous record was set in October — the exchange removed 2,253,888 BNB from circulation.

Earlier, in February, the price of BNB first surpassed the $100 mark. At that time the token ranked seventh in the ranking of the largest crypto assets by market capitalisation, with a value of $15.2 billion.