The Binance Coin (BNB) is an ERC-20 token that supports Binance, the world's largest crypto exchange. Binance users receive significant discounts when paying transaction fees on Binance in Binance Coin. This, of course, is a strong incentive for traders who move high volumes.
The Coin will probably survive the bear market because Binance is the largest crypto exchange in the world. The crypto exchanges are the most lucrative sector in the crypto sector. In addition, the Coin has also held up well so far in the bear market. So writes Bravenewcoin:
“Many consider the BNB token to protect against the price fluctuation of Bitcoin. This is mainly because the price of the BNB token mainly depends on the trading volume on Binance. In a situation where negative market news can encourage a selloff, crypto token tokens are needed because they allow more favorable transactions when repelling coins. “
Binance predicts gains of up to $ 1 billion in 2018. That's a lot of money and enough to put a big barrier around the company. The employees of Binance are also optimistic. So 90 percent of you have agreed to receive their salary in Binance Coins.
Binance has big plans for the future
In addition, Binance plans to evolve into a comprehensive cryptographic hub. After relocating operations to Malta, the team wants to turn the crypto exchange into a fiat currency entry point. Next, we want to build a blockchain investment fund on Binance and develop the first “tokenized bank”.Not forgetting that Binance “burns” Binance Coins on a quarterly basis. To this end, the company carries out repurchases similar to the repurchases of shares by listed companies. The smaller amount makes every remaining coin a little more valuable. On the other hand, all this means that the price of the token is closely tied to the crypto exchange Binance. But crypto exchanges are always volatile too. For example, do you remember Mt.Gox?
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/Binance-prognosis-and-analysis/
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