Binance Coin is the native cryptocurrency of the Binance cryptocurrency platform and exchange. It has remained in the Top 5 of the CoinMarketCap ranking for several quarters. BNB allows its holders to benefit from several unique features in the Binance ecosystem. Let’s see why it is important to hold it.
Binance Coin (BNB) price: what is the current price?
Here is the live price of the Binance coin.
Binance Coin was launched in July 2017 as an ERC-20 token of Ethereum. The migration will be done next and Binance has become a full-fledged blockchain with its own native currency.
The founder and CEO of Binance, ChangPeng Zhao, is a very well-known man in the cryptocurrency sphere. He is of Canadian nationality and was part of the team of developers of the Blockchain.info explorer, which became the Blockchain.com exchange platform.
The Binance coin is a utility token, in other words, holding it allows you to access certain features of the Binance ecosystem; in addition to the upside potential of cryptocurrency:
- Discount on your trading fees on the Binance exchange
- Cryptocurrency borrowing and lending
- Participation in Launchpads of new cryptocurrencies
- Buying NFTs on Binance
- Liquidity staking and farming
- Profitable savings on Binance
- More features to come…
Opinion on the project
Binance is a strong ecosystem that keeps growing with new features. It is the richest platform in the cryptocurrency industry.
Price Volatility Notice
Binance Coin is relatively low in volatility with a substantial daily trading volume. Which makes it a good candidate for day trading.
Medium term BNB price prediction
BNB downtrend is confirmed, but BNB/USD price support at $300 is likely to hold.
Long Term BNB Price Prediction
The supply of BNB decreases over time thanks to the operations of burning that permanently remove BNB from circulation. Thus, the remaining BNBs for holders are becoming increasingly scarce and their price is bound to appreciate in the long term. Also, Binance Coin has the same upside potential as Ethereum. The BNB could therefore exceed 4000 dollars.
Although less traded than Ether (Ethereum), Binance Coin allows you to do almost everything that is done on the Ethereum network. It is a promising cryptocurrency that grants even more functionality.
The information provided on this website should not be taken as investment advice, financial advice, trading advice or any other kind of advice and nothing on the website should be considered as such. Mirror Mag does not recommend that you buy, sell or hold cryptocurrencies.
Be vigilant and consult your financial adviser before making any investment decision. The display of advertisements and hyperlinks from third parties on Miroir Mag does not in any way imply the approval, guarantee or recommendation of Miroir Mag. Before using any third-party service, you should do your own research. Mirror Mag is likely to receive compensation through affiliate links.