August 3, 2021

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Bitwexray.com Weekly Report: Crypto Top 3 is BTC, ETH, BNB

Bitwexray.com

Bitwexray.com

Bitwexray Crypto Market Overview: New Crypto Top 3 is BTC, ETH, BNB

As the crypto bull market continues and several cryptocurrencies make impressive leaps, the main story of this week involves the elevation of BNB into the Big 3 of cryptocurrency rankings by market cap, following Bitcoin and Ethereum.

Bitcoin had a very solid week characterized by daily all-time highs from Monday to Friday. After starting the week at $47,491.20, BTC broke past $50,000 on Tuesday and rallied to as high as $56,113.65 on Friday, according to CoinMarketCap. This week has added as much as $8,500 to Bitcoin’s value and propelled its market cap to $1 trillion dollars, making it the 8th most valuable asset in the world. 

Ethereum also had a solid week, rising in value from $1,843.99 to $1,960.16 amid a mostly sideways market that saw its value go as low as $1,683.91 at one point. Shortly after the recent week ended, ETH breached $2,000 for the first time in its history.

Meanwhile, BNB had its best week of trading, surpassing even the lofty standards set during the preceding week, when it rose from $67.85 to as high as $140.24. For most of the week, BNB traded between $120 and $140, before a three-day rally elevated its value to as much as $342.88, before ending the week at $332.62. This rapid rise propelled BNB past Tether (USDT) to become the world’s third-most valuable cryptocurrency.

With these great market performances by BTC, ETH, BNB, and other cryptocurrencies, the total market cap for cryptocurrencies jumped from $1.446 trillion to $1.656 trillion in the span of just one week. 

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