$BNB

As of May 2022, BNB’s all-time highest price was $686.31, recorded on May 10, 2021, according to CoinGecko. The rally was likely to do with the surging popularity of decentralized applications (dapps), including decentralized finance (DeFi), on the Binance Smart Chain. Binance Smart Chain (later rebranded BNB Chain) is a layer 1 network, meaning other applications can be built on top of it. That makes it a competitor to the Ethereum network. It offers faster transactions and cheaper transaction speeds than Ethereum, but it is more centralized.