Just hours after Solana surpassed BNB Chain in market capitalization, BNB Chain has reclaimed its position as the world’s fourth-largest cryptocurrency.
The rapid flip in rankings underscores the volatility and fierce competition within the crypto market.
Adding to the excitement, the top MEMEcoin on BNB Chain, $WHY, has reached new highs. The token now boasts a liquidity of $18 million and a fully diluted valuation (FDV) of $129 million. In a notable transaction today, a newly created wallet withdrew 321 BNB (approximately $186,000) from Binance to purchase 628.3 billion $WHY at a price of $0.0000002944 each.
Just hours after #Solana surpassed #BNBChain in market cap, #BNBChain surpassed #Solana and reclaimed its position as the world's fourth-largest cryptocurrency.
The top #MEMEcoin $WHY on #BNBChain hits new highs with liquidity 18M USD and FDV 129M USD.
We discovered a newly… pic.twitter.com/pGyuU2ItIA
— Lookonchain (@lookonchain) July 27, 2024
BNB Holder Deposits Huge Amount On Exchange
In a contrasting move, a long-term BNB holder made a significant deposit. The holder, who has maintained their BNB for seven years, deposited their entire 3.85K BNB into Binance. This wallet, 0x1b9b, originally received 3.85K BNB (valued at $64,730) from another wallet (0x812af) seven years ago. Today, this amount is worth an impressive $2.27 million, reflecting a 3448% increase in value.
JUST IN: $BNB-7-year holder just deposited his entire 3.85K $BNB to #Binance 🥹🥹
7 years ago, wallet 0x1b9b (https://t.co/YOFKbW9dLY) received 3.85K $BNB ~ $64.73K from 0x812af. Currently, this amount is worth $2.27M (+3448%).
What's happening with @binance when an early $BNB… pic.twitter.com/T2n6emWCKe
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 27, 2024
These developments highlight the dynamic and rapidly changing nature of the cryptocurrency market. BNB Chain’s swift recovery to reclaim its rank demonstrates its resilience and strong market support. At the same time, the surge in $WHY’s value showcases the growing influence and appeal of meme coins within the BNB ecosystem.
The significant movements in both BNB and $WHY underline the diverse opportunities and risks present in the crypto space. Investors and traders are continuously navigating these shifts, with substantial gains and losses occurring in short periods.
As the market continues to evolve, the competition between leading cryptocurrencies like Solana and BNB Chain remains intense. Observers and participants alike will be closely monitoring these assets to gauge future trends and potential opportunities for profit.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.