Upcoming Binance Launchpad incentives, CZ’s upcoming release and BNB Chain’s use cases outside of DeFi appear to be behind BNB’s rally.
The price of BNB (BNB) rose 7% between Sept. 11 and Sept. 13, trading above $550 for the first time in over two weeks. This movement significantly outperformed the 2% gains seen in the broader altcoin market capitalization during the same period, indicating specific drivers related to BNB Chain and Binance exchange.
BNB/USD (right) vs. altcoin market cap (left). Source: TradingView
From a broader perspective, BNB has struggled to maintain levels above $600 over the past three months. However, this has been sufficient to solidify its position as the third-largest cryptocurrency, excluding stablecoins. The last time Solana (SOL) overtook BNB was on Aug. 8, and the current gap remains a comfortable $17.7 billion.
