The native cryptocurrency of Binance, BNB, has reached its highest levels since the crash of FTX. Binance played a significant role in FTX’s downfall, causing BNB to experience significant volatility during the crash.
Despite reaching a low of $220 on December 17th, BNB has gradually increased in value and recently jumped to over $320, marking its highest point since the FTX incident. Meanwhile, Bitcoin has remained steady at around $23,000, experiencing a 30% increase since being advised against by crypto skeptics Peter Schiff and Jim Cramer.
The market cap for BTC sits at just under $440 billion and its dominance over other cryptocurrencies is currently at 42%.