Price Analysis

Binance Coin (BNB) Price Analysis: Binance Coin will be One of the Key Assets of Binance

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Introduction:

Binance Coin (BNB) is an ERC20 issued on the Ethereum blockchain by the famous cryptocurrency exchange Binance. With this cryptocurrency, one can pay a commission for transactions on the exchange and then receive additional discounts on the services of the Binance platform which is a cryptocurrency exchange and in future will become a decentralized exchange of blockchain assets. The discount slabs for the same are as follows:

1st year – 50%

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2nd year – 25%

3rd year – 12.5%

4th year – 6.75%

The token was established with a total supply of 200 million. Binance plans to use 20% of the profits each quarter to buyback and Binance Coin until 50% of the total BNB supply (100 million) is burned. As of 2019, many big business houses accept BNB as a form of payment.

Highlights:

  • According to certain sources, the major attraction for BNB is the trading discount on the Binance exchange.
  • BNB is available to be traded with 70 other cryptocurrencies on several digital exchanges.
  • Since the start of 2019, today it is at the peak price (USD) 19.90
  • Having a continuous bullish market.

BNB

Current Statistics:

Binance Coin (BNB) is amongst the top 10 in the list of cryptocurrency, ranked at 7th position. The market cap of BNB is 2,809,305,952 USD and a price (USD) 19.90 on 3rd April at 5:50 UTC time. Most important to highlight that BNB is having Return on Investment (ROI) of more than (>) 9000% which is remarkable. The 24h volume is USD 282,549,516 with a circulating supply of 141,175,490 BNB.

Analysis and Data Interpretation:

It has been a boom market for the Binance Coin (BNB). As we look into the above chart by the Coinmarketcap we notice that today, BNB is trading at the highest price (USD) 19.90 comparing from the start of the year of all times. Similarly considering the start of the year, the least till now was marked on January 11 with the price (USD) 5.90. Comparing the two extreme situations, today’s price is 237.28% more than the least price which is phenomenal. Therefore, analysts claim that the earnings have increased for those who hold a minimum of 500 BNB.

Conclusion:

Traders are buying Binance Coin as a trading tool with high liquidity to ensure their ability to exchange it for other coins. The Binance Coin prediction for the year is bullish. Indeed, if the coin manages to keep its bullish market share, it ought to become an important gainer from the market growth for a long term period. Therefore, BNB may be trending in the list of top 5 cryptocurrencies in the near future.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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