High flyers, BNB, and ADA, are back to making the rounds again. They have both overthrown USDT to occupy the third and fourth positions respectively on the list of biggest cryptocurrencies by market cap.
BNB and ADA are showing no signs of slowing down. Within the past 24-hours, they have recorded significant gains that have catapulted them above stable coin, USDT. BNB is currently up 15% in the last 24 hours, and its price is shy of $270. Consequently, its market capitalization has gained $5 billion in the same period.
On the other hand, ADA has rallied upwards by 5% and is currently priced at $1.18. As a result, its market capitalization has surged by $2 billion.
They have both flipped USDT for the second time this year. BNB currently occupies the third position, while ADA sits pretty at fourth on the biggest cryptocurrencies list by market capitalization. BNB had flipped ADA yesterday, though they were both trailing USDT at the time.
The bullish movement comes off the back of a slight retracement in the past week. As of yesterday, both coins were down on the 24-hour and one-week chart.
Total Market Capitalization Nears All-Time High
The bulls seem to be having a field day generally as bitcoin and major altcoins have recorded gains in the past 24 hours. Bitcoin finally broke the resistance and is comfortably above $50k again. Its 7% upward movement means it now hovers around $54k, and its market cap is back above $1 trillion.
The global cryptocurrency market capitalization is up by over 6% and is currently around $1.69 trillion. The latest surge is just shy of the previous record of $1.76 trillion recorded last month. As expected, Bitcoin accounts for the majority of the total market capitalization.
Can BNB or ADA Go All the Way?
BNB and ADA are still a far cry from leading digital currencies, BTC and ETH, in market cap. With both platforms undergoing upgrades and adding utilities, it is believed that they both can do the unthinkable.
Binance Smart Chain has experienced massive growth in interest, leading to discussions on its chances of overtaking Ethereum.
While Cardano is introducing full decentralization in its next upgrade scheduled for the end of this month, Binance seems to be relentless in rolling out new features targeted at increasing utility.
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