Whales are acquiring BNB amid the rising rate of the altcoin

by in Cryptocurrency News

Crypto whales

Binance Coin (BNB) has done very well over the past few months.

The coin not only updated its all-time high but also made it to the top three digital currencies according to CoinMarketCap. BNB even surpassed Tether (USDT) in terms of capitalization.

On Monday night, February 22, the BNB rate rose to $ 286. Altcoin capitalization in the last 24 hours has added almost 7% more, and now it is $ 44.197 billion. This digital asset became attractive to large investors last year.

According to the Santiment team, in six months the number of BNB addresses containing at least 10,000 coins increased by 84.6% from 26 to 48. Moreover, the accumulation continues, as evidenced by the high transaction activity of users of the Binance Chain network.

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Binance CEO Changpeng Zhao noted that this blockchain has already surpassed Ethereum in terms of the number of daily transactions.

The Whales are likely to continue hoarding Binance Coin until the end of this year, as they are already realizing the gigantic potential of the altcoin.

The fact is that the Binance Chain network is becoming more and more popular among developers of decentralized applications (DApps). Accordingly, the number of new blockchain users will grow and the demand for the underlying asset BNB will increase.