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BNB Gains 45% in 24 Hours as PancakeSwap ‘Flippens’ Uniswap Volume
The exchange's native token is up 45% and trading around $265.
The native token of one of the world's largest cryptocurrency exchanges is astral planing above new heights.
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Binance Coin (BNB) is having its time in the sun, up 50% and trading at around $271, thanks to increased interest in decentralized exchanges and a relatively new decentralized finance (DeFi) project known as PancakeSwap.
The DeFi project has flipped its doppelganger Uniswap, as Binance's CEO Changpeng Zhao noted on Twitter a short time ago.
Read more: PancakeSwap Brings Whopping DeFi Volumes to Binance Smart Chain
The token has also overtaken stablecoin tether to stand at number three in terms of market value, according to data from Messari.
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
