Binance Coin (BNB) Soars to Third-Largest Crypto Market Cap, Driven by Institutional Interest and DeFi Expansion

The BNB price has experienced a significant surge, climbing 5% in the past 24 hours to reach $1,311. This jump propelled BNB past XRP and Tether, solidifying its position as the third-largest cryptocurrency by market capitalization. This remarkable rise can be attributed to several factors: increased trading volume, institutional investors actively buying into the Binance Coin, and the continued growth of DeFi applications on the BNB Chain.