Over the last 30 days, the Binance Coin price has exploded upwards, rising 560 percent from around $40 to a new all-time high above $340. Demand for BNB has increased as the space on the Binance Smart Chain for decentralised finance has been gaining new users at a rapid pace. By market capitalization, BNB became the third-largest cryptocurrency, surpassing Tether's USDT stablecoin and Polkadot's at around the same time that PancakeSwap saw its volume of trading increase.