Binance is making some big moves in the market right now. The exchange is capturing the majority of the market share of trades so it shouldn’t come as a surprise that Binance Coin is performing well too. As a lot of investors would see an extremely high-risk asset in comparison to the Mt. Gox exchange, BNB seems to have paid off for a lot of traders.
You may remember that at the end of last year there was a bit of a ‘battle’ going on with Bitcoin Cash and Bitcoin SV. if you invested in Binance Coin during this time then today, you would have timesed your initial investment by six times. With these kinds of gains and decoupling from the Bitcoin price, BNB is on the way to be a digital asset class of its own.
With a heavily inflated price, it would be worth thinking about hedging your portfolio, especially if you are a holder of BNB.
But the launch of Binance Chain in April this year is seemingly a big signal towards a continual climb of the assets price.
In more recent months, the project began to capture the majority of the Initial Exchange Offering (IEO) market. Via leveraging the BNB token as the only investment vehicle on each monthly listing, BNB’s use cases are growing on a massive scale. On top of this, there is a heavy pull towards margin trading platforms. Earlier today June 13th, Binance tweeted about the new trading move which you can see here:
Fill in the form below & we will pick 1,000 of you for the last round of margin testing! Priority will be given based on BNB holdings & willingness to provide feedback. ⬇️https://t.co/5TJ90gh359 pic.twitter.com/ru4pO5nbFm
Now, this is a huge feat for Binance, without a doubt. But there are several other things that have an input to the BNB price success.
With this Binance Coin could soon become a top five cryptocurrency.
Published at Thu, 13 Jun 2019 21:09:54 +0000