Binance Money (BNB), the in-house token of cryptocurrency substitution Binance, saw its price hit a new all-time high this week, passing Bitcoin Cash (BCH) by market capitalization.

BNB/USD 1-week candle chart (Binance). Source: TradingView

BNB, Binance volume hit records

Data from Cointelegraph Markets and TradingView confirmed that BNB "flippened" BCH to become the ninth-largest cryptocurrency on Feb. four.

One of a number of altcoins to reach record highs this week, BNB/USD briefly hit $55 on Thursday before correcting to circle levels just beneath $54.

Operation appeared buoyed by record book on Binance itself as trading gathered step as part of a long-awaited return of "alt season."

The action was led past Dogecoin (DOGE) surging thanks to tweets past Elon Musk, which Binance CEO Changpeng Zhao used to promote trading on the platform.

"All time high on system traffic again. In fact, 3 ATHs in the last 15 minutes," he revealed on Thursday.

"Some isolated latencies observed, monitoring. Funds are #SAFU!"

Bitcoin Cash relegated to the lesser of the tiptop ten

The most conspicuous victim of BNB on the 24-hour interval was Bitcoin Greenbacks, which ceded its position to get increasingly in danger of losing its status as a summit 10 cryptocurrency by market cap.

At the time of writing, eleventh-place Stellar Lumen (XLM) was still $700 million lower than BCH, with BNB's market cap at $8.3 billion.

BCH/USD vs. BNB/USD 1-hr chart. Source: TradingView

BNB, meanwhile, forms one of the cryptocurrencies supported by Binance Pay, Binance'southward latest product, which launched as a beta version this week. Both Bitcoin (BTC) and Ether (ETH) are also available for apply in the payment gateway, along with the Binance USD (BUSD) stablecoin, Swipe Token (SXP) and the euro every bit a fiat currency choice.

Every bit Cointelegraph reported, exchange traffic worldwide is expanding rapidly thanks to the balderdash run, which has received considerable mainstream attention in contempo weeks and months.