Binance Coin, issued by Binance, the world’s largest cryptocurrency exchange, ranked third in the cryptocurrency market capitalization. Founder Changpeng Zhao has become the world’s 12th richest man.
As of 8:30 a.mn (GMT+8) on the 17th, Binance Coin was recording $588.091, up 0.79% from 24 hours ago on Coin Market Cap, a global coin market broadcasting site.
As a result, Binancecoin’s market capitalization reached $83.4 billion, beating Tether to third place in market capitalization. Bitcoin, which ranks first, is guarded by $817.3 billion and Ethereum, which ranks second by $399 billion.
Binance created its own cryptocurrency called Binance Coin (BNB) in 2017, when it was founded. The total amount of issuance was 200 million, of which 50% were held by Binance and investors, and the remaining 50% were listed on the market through ICO.
In the early days, it was considered an ordinary exchange’s own currency, so it did not receive much attention. Then, as Binance continued to grow on record every year, Binance Coin’s status gradually increased. Binance transaction fees can be paid with Binance Coin and are used as currency in the Binance smartchain ecosystem. The number of weekly visitors reaches 30 million.
Binancecoin prices rose the most among major cryptocurrencies last year. Binance Coin has soared 1,300% over the past year, overwhelming the growth rate of Bitcoin (65%) and Ethereum (408%).
The founder also has a surge in wealth, ranking 12th in the world.
The person who founded Binance was Changpeng Zhao. He holds 90% of Binance’s shares.
As Binancecoin rose on the same day, founder Changpeng Zhao’s assets also recorded $92.7 billion, ranking 12th in the world. In Asia, it ranks second after India’s 11th-largest, Mukesh Ambani, chairman of Reliance Industries. Chairman Ambani’s assets are $96.9 billion.
Zhao is known to hold only Bitcoin and Binancecoin, and his asset estimate did not include his cryptocurrency. This means that actual assets may exceed the estimated amount. His cryptocurrency holdings are not known exactly, but he is known to have about 40% of Binance Coin.
Binance has passed through Japan and Malta, and now Singapore is its main base, and has never officially headquartered in a specific country or region.
Bloomberg said Binance’s sales would have reached at least $20 billion last year, nearly three times larger than Coinbase Global’s estimated sales last year, which has a market capitalization of $50 billion.
