Binance coin's massive 1,300% gain in 2021 beat both bitcoin and ether, cementing its spot as the world's 3rd-biggest crypto
REUTERS/Dado Ruvic/Illustration
Bitcoin and ether may have raked in impressive gains for 2021 but one altcoin beat them handily: binance coin.
The third-largest cryptocurrency by market capitalization gained 1,344% this year, far outperforming bitcoin's 73% and ether's 455%.
The rise of the coin, ticker BNB, can be attributed in part to the massive growth of the Binance Smart Chain ecosystem, according to a recent report by Arcane Research.
The BSC, which took some market share from ethereum, enables users to build their decentralized apps and digital assets on one blockchain, among others.
Arcane Research
BNB is issued by Binance Holdings, the world's largest crypto exchange, and is the native currency of Binance's own blockchain, the Binance
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