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Study: SHIB and BNB ranked as the most popular coins on Binance

Study: SHIB and BNB ranked as the most popular coins on Binance

A number of digital currencies have lately reached new all-time highs. Still, two, in particular, the decentralized meme coin Shiba Inu (SHIB) and the native token Binance Coin (BNB), stand out as the top two coins trending on the popular Binance exchange

This is significant in light of the fact that Binance has been under fire from authorities worldwide, who have accused the exchange of facilitating vices associated with digital currency.

However, it seems that the regulatory problems have not hindered Binance from maintaining its dominant position among cryptocurrency exchanges nor from trading some of the most popular digital assets.

According to data acquired by Finbold, BNB recorded the highest number of searches among the top 15 coins trending coins on the Binance platform as of November 15, 2021. In addition, SHIB was in second place, revealing that interest in the dog meme coin hasn’t disappeared despite its crash from its all-time high, as per CryptoDiffer statistics.

Top 15 ranked coins by search on Binance. Source: CryptoDiffer

Furthermore, the trading volume dominance of Binance shows that 64% of BNB, the platform’s native token, is traded on the exchange itself, whereas 44% of SHIB is traded on the exchange, even though other large trading platforms such as Coinbase have now listed the asset Which resulted in an inflow of $870 million within 24 hours. Meanwhile, other reputable platforms such as Kraken are considering listing the token.

BNB and SHIB price 

Presently, the BNB token is changing hands at $642 down, 2.13% over the last 24 hours and 0.68% in the previous week.

BNB 7-day price chart. Source: CoinMarketCap.com

The third highest-ranked cryptocurrency has a market cap of over $106 billion. In contrast, Shiba Inu is currently trading $0.0000534, up 1.45% on the day but down 4.28% on the week with a market cap of $29.3 billion.

SHIB 7-day price chart. Source: CoinMarketCap.com

In spite of the fact that the Shiba Inu has been experiencing increased price volatility in recent days, a majority of token holders (72%) are still in profit.

Most of the volatility was caused by a whale that performed four transactions totaling ten trillion (10,000,000,100,000) SHIB to four distinct wallets. At the time, a single transaction was worth around $586 million.

Top 15 ranked coins

Notably, Loopring (LRC) ranks third, with crypto giants Bitcoin (BTC) and Ethereum (ETH) also making up the top five, ranking fourth and fifth, respectively. 

Elsewhere among the top 15 coins trending on Binance by searches, Solana (SOL), which again climbed to a new all-time high, makes the top ten in ninth, whereas Polkadot (DOT), whose recent Parachain auction helped the token climb to a new high. 

Finally, Decentraland (MANA), the metaverse token which has experienced a surge in price as of late, also makes the top ten in eight following the increasing interest in digital assets. 

The asset is tied to the Metaverse, enabling an immersive social sharing platform that uses 3D environments, virtual landscapes and virtual realities (VR), games,  non-fungible tokens (NFTs), decentralized apps (dApps), as well as smart contracts.

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