BNB powers the Binance Ecosystem. It is the native coin of Binance Chain. Binance Coin is the token issued by the world’s biggest cryptocurrency exchange. BNB token holders can access cheaper trades and other rewards within the Binance cryptocurrency exchange, so it works as an advanced loyalty program as well as a standalone cryptocurrency.


Market Demand:

Just getting listed on Binance can provide a cryptocurrency with a temporary boost of 80 percent in market value. And being delisted from Binance is a black mark felt throughout the industry. It’s one of the most trustworthy crypto exchanges, with over 150 coins listed and nearly $1.5 billion in crypto traded daily. Binance Chain economics relate to fees on the network, including trading fees associated with Binance DEX, transaction fees (e.g., transfer asset fees), and other function calls (e.g., freezing, issuing calls).

According to Binance fee schedule, the top tier of BNB token holders must today hold about $176,000 worth of the token and trade about $1.2 billion per month on the exchange. For users trading in these volumes, top-tier BNB holdings provide fee discounts that would save them about $720,000 each month, off the standard trading fees – more, if these traders pay the fees themselves in the Binance token.

Besides its on-chain functions, BNB has multiple additional use-cases such as fee discounts on multiple exchanges (e.g., Binance.com), payment asset on third-party services, and participation rights & transacting currency on Binance Launchpad.

BNB can be used on multiple platforms and services that are independently run by global companies. Its third party set of use-cases ranges from booking websites to financial services.

The Team

Changpeng Zhao (aka CZ in the crypto community) is the CEO and who is now part of the crypto trading royalty. CZ is the founder and CEO of BijieTech, a company that provides cloud-based exchange systems to exchange operators. Since founding in Sept 2015, BijieTech now powers 30+ exchanges in Asia. In the first 12 months since founding, BijieTech closed 36.1 million RMB ($5.3MM USD) in revenue, and will double that in its second year. BijieTech has never accepted any outside investments, being cash flow positive from day one. Prior to BijieTech, CZ was the co-founder and CTO of OKCoin.

Roger Wang is the CTO. Prior to BijieTech, Roger worked at Nomura Securities, the largest investment bank in Japan. He was responsible for a global credit booking, analytics, and marking system, which supported thousands of global traders and analysts.

Co-founder Yi He is a notable female entrepreneur in the Blockchain industry. She previously worked as the branding and marketing head of the virtual currency exchange OKCoin and Yixia Tech.

All-star management team leaves no room for something suspicious. They bring the Binance literally from zero to hero.

The executive team decided that allocations of tokens should be divided up into ICO (50%), Angel Investors (10%) and Founding Team (40%) which use.

Price Analysis for Binance (BNB)

BNB has Rank #7 with Market Cap of $3.5 Billions.

Worth to mention BNB supply was initially set at 200,000,000 coins. As mentioned in its whitepaper, BNB’s supply will be reduced to 100,000,000 units, a decrease by -50% of its original supply, owing to a burn mechanism.  Every three months, Binance burns several BNBs based on its revenue. Owing to this burn mechanism, the supply of BNB is gradually decreased, increasing its scarcity.

Binance coin has a circulating supply of 150 Million coins and a max supply of 180 Million coins (1 BTC = 442.13 BNB). All-Time High was $39.68 over a year ago and is down -40% compared to the current price of $23.66. All-Time Low was $0.03981770 3 years ago and is up unbelievable 60000% compared to the current price. 24-hour trading volume is $334,607,442.

Based on the 90-Day chart, the current price sits on a resistance level of $23, retested several times the previous month. Volume has doubled since 30 days ago from $200,000 to up 400,000 Those are enough reasons to believe breakout will occur with short-time price target $30.

Based on the 1-year chart we can see even more bullish picture with an ascending triangle pattern on the chart. If the price break the final resistance at $30 we can expect all-time high for BNB at the end of the year around $40.

Binance is the current most active market trading it.


Upcoming Events

  • Binance CEO Changpeng Zhao (CZ) has announced during the World of DeFi summit new plans to further support the DeFi ecosystem and solutions to bridge DeFi and CeFi ecosystems.
  • The company plans to offer “DeFi Index Perpetual Contracts,” listed on Binance Futures. The contracts will be denominated in the dollar-linked stablecoin tether and offer traders leverage up to 50 times their money down.
  • Users will benefit from CeFi (Margin, Futures, Savings, DeFi Staking, and DeFi Pooling) and DeFi products on BSC (Lending, AMM, Liquidity Minging, Yield Farming) on one platform.

‌Should I buy Binance (BNB)?

Binance is one of the best cryptocurrency exchanges out there for trading between different cryptocurrencies. It offers a great, easy-to-use interface that caters to all types of traders. Not only that, but it’s a platform you can trust. Constant growth of the trading volume and BNB deflator nature guarantee us sure profit. This coin should be in every investing portfolio.

Should you buy into this coin? Investing is a personal choice and investors should consult with experts when making financial decisions. It's important to note cryptocurrencies are highly volatile, unregulated and have the potential to go to zero. If this doesn't discourage you and would like to know if the Binance coin made it to our shortlist, check out our weekly Altcoin Reports. ‌


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Disclaimer:

The information in this review has been independently sourced and even though we have made the best attempts to report accurately, we do not provide assurances on any of this information. This analysis is provided "as is" and it is up to the reader to do their own due diligence and research. Altcoin Investor is not associated or affiliated with any firm and the opinions are strictly that of the author. This information should not be relied nor is it to be treated as financial advice.