Binance crypto exchange token price reached $650. The capitalization of the coin exceeded $100 billion for the first time. But Binance founder Changpeng Zhao urges not to invest mindlessly in BNB.
Binance Coin (BNB) renewed its all-time high. On May 3, the coin rate reached $654. BNB capitalization exceeded $100 billion for the first time in its history.
Even the hacking attack on one of the DeFi projects built on the Binance Smart Chain did not stop the growth of BNB. In early May, a cybercriminal attacked the Spartan Protocol project and managed to withdraw about $30 million in digital assets from its liquidity pools.
According to CoinMarketCap, BNB ranks third by capitalization, losing only to bitcoin (over $1 trillion in capitalization) and Ethereum (over $400 billion). BNB’s closest competitor is Dogecoin, which continues to show unstoppable growth. In the last 7 days, DOGE doubled in price, and the coin’s capitalization exceeded $65 billion.
Binance founder Changpeng Zhao advised investors not to follow emotional market trends. In his opinion, it is not worth buying BNB if an investor has not spent at least three days exploring the ecosystem of the token. Zhao considers it a wrong decision to buy a coin only because of its active growth.