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The fifth-largest cryptocurrency, Binance Coin (BNB), has faced a substantial increase in its market capitalization value, soaring by 6.48% in the past 24 hours as a result of the new all-time high of $859 reached earlier today. Currently, BNB’s market cap value stands at $118.29 billion (as it dropped from $119.3 billion a little earlier). Over the past week, the increase comprised 12.74%.
BNB leaves Strategy and Nike in dust
BNB reached that ATH briefly and then rebounded, currently changing hands at $849 per coin. This was the third historic peak reached over the last week. On Sunday, BNB soared to $827. On July 23, BNB soared to $809.
This latest significant price surge has allowed Binance Coin to climb to 11th place in the global assets rankings, where it currently holds 186th place. Thus, BNB has surpassed Michael Saylor’s Bitcoin treasury company Strategy (formerly MicroStrategy), which sits in 190th place with a $115 billion market capitalization. BNB has also left behind UniCredit bank ($112.98 billion), Nike ($112.64 billion) and SoftBank ($112.56 billion).
CZ Binance's wealth surges to $158 billion
Besides, thanks to this BNB surge, the net worth of the person who created it (and the largest cryptocurrency exchange in the world, Binance), Changpeng Zhao, widely known as CZ, has also skyrocketed. Currently, it constitutes $75 billion. However, this figure reflects mostly the value of the Binance shares owned by Zhao. If the worth of the BNB stash he held is added here (and that is about 64% of the circulating BNB supply), those $75 billion get boosted to a much larger sum.
All in all, CZ owns around 98 million BNB tokens worth around $83 billion. Added to the $75 billion mentioned above, Changpeng Zhao may now be worth $158 billion. Thus, he may well be now wealthier than the renowned legend of the investment world — Warren Buffett, whose net worth stands at $144.4 billion.
Vladislav Sopov
U.Today Editorial Team