- BNB rose to a record high above $1,300, becoming the third-largest cryptocurrency by market capitalization.
- Market capitalization for BNB reached $180 billion, surpassing XRP.
- XRP fell to a market value of $178 billion, with its price down 0.8% over the past 24 hours.
- Ethereum continued to hold its position as the largest altcoin, with a market value of $567 billion.
- Bitcoin remained steady near $124,500 following a record high, and the total crypto market cap stood at about $4.38 trillion.
BNB, the native token of the BNB Chain Network, set a new all-time high above $1,300 in early trading Tuesday. The surge pushed BNB past XRP to become the third-largest cryptocurrency by market capitalization.
BNB‘s value reached a high of $1,311 after rising 6.5% in the last 24 hours. The token’s market capitalization is now around $180 billion. In comparison, XRP fell 0.8% to $2.98, decreasing its market capitalization to approximately $178 billion.
Retail interest in BNB grew, with sentiment shifting to ‘bullish’ and online discussions increasing in the past day. Meanwhile, XRP investor sentiment stayed ‘neutral’.
Ethereum (ETH) maintained its lead as the largest altcoin, holding a market capitalization of $567 billion. Ethereum‘s price climbed nearly 3%, reaching $4,700, which is about 5% below its previous high of $4,950 seen in August. Sentiment around Ethereum moved to ‘neutral’ after previously being ‘bearish’.
Other major cryptocurrencies were mixed. Cardano (ADA) was up 0.6% and Dogecoin (DOGE) edged 0.3% higher, while Solana (SOL) dropped by more than 1% in the past 24 hours.
Bitcoin remained steady after hitting a record high above $126,000 in the prior session. Its current price is around $124,500, gaining 0.1% in the last day. Total cryptocurrency market capitalization grew by 0.6%, reaching about $4.38 trillion after crossing $4.4 trillion on Monday.
On-chain analysis from Glassnode suggests that Bitcoin has limited price support between $120,000 and $121,000, but a stronger base exists around $117,000. According to Glassnode, “If the price dips to that area, buyers might step in to defend it.” Read more from Glassnode on their official account.
In related equity news, Strategy (MSTR) saw its stock decrease by 1.3%. Bitmine Immersion Technologies (BMNR), a company holding Ethereum in its treasury, gained up to 2.5%. Among bitcoin miners, Marathon Digital (MARA) slipped 0.44%, while Riot Platforms (RIOT) rose 0.37%. The crypto exchange Coinbase (COIN) was down 0.74%.
