BNB Gains 45% in 24 Hours as PancakeSwap ‘Flippens’ Uniswap Volume

The native token of one of the world's largest cryptocurrency exchanges is astral planing above new heights.

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.

The token has also overtaken stablecoin tether to stand at number three in terms of market value, according to data from Messari.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.