![]() ![]() The analysts are bullish an expect short-term gains, however if BNB continues to drop, then investors can expect an approximate 15-20% drop from today’s (11 April 2022) price: US$416 ($561 AUD). This will occur if Binance Coin can hold steady at its new support level of US$410 ($552 AUD) - however it’s still possible that the market could take a dip, with bears will continue to push BNB to new lows. BNB Short-Term Price Prediction (1 month):Īnalysts at FXStreet are quite bullish on BNB in the short term, with the FX Street team predicting an 18% surge over the coming weeks. Because BNB is the native token for all transactions and payments on the BSC the price soared in response, growing over 1,300% in 2021 alone. As Ethereum “gas” prices climbed in 2021, the BSC offered a faster, less expensive alternative for those looking to build DeFi projects, mint NFTs or create new DApps. Regulation fears aside, Binance had an extremely successful 2021 – introducing the Binance Smart Chain (BSC) and the host of DeFi, NFT and smart-contract applications that came with it. While this eagerness for transparency and bipartisanship is definitely nice to see from Binance, it means practically nothing to regulatory agencies like the SEC who are looking to shut down anything they consider to be “unregulated” in the crypto market. Binance was banned from the UK in June last year, after regulators concluded that the exchange’s activity could not be “sufficiently supervised”, and now regulatory agencies around the world are beginning to take action against suspicious activity on Binance and other major crypto exchanges.ĬZ has stressed on multiple blog posts and tweets that Binance is staunchly “pro-regulation” and is willing to work alongside all domestic regulators to make cryptocurrency as accessible as possible. The most important thing that investors need to keep an eye on when it comes to BNB is regulation. However, the Binance ecosystem goes far beyond just the exchange and includes a diverse lineup of blockchain-related projects, such as: Binance Chain, Binance Smart Chain (BSC), Binance Academy, Binance Research, Binance Labs, Binance Launchpad and even Trust Wallet. CZ stressed that the name was a signal to investors that a new paradigm of ‘binary’ assets (cryptocurrency) was being ushered into the world of global finance.īinance is quite well-known, owing to its status as the world’s largest cryptocurrency exchange based on both users and daily trading volume. CZ said that he decided upon the name “Binance” after combining the words “Binary Finance”. A Brief History of Binanceīinance was launched in July 2017 by founder and CEO Changpeng Zhao, affectionately known in crypto circles and on Twitter as “CZ”. Binance states that they will continue the quarterly burns until 100 million BNB are destroyed, which is equivalent to 50% of the total supply.Ī total of 31.9 million have already been burned from a total circulating supply of 168.1 million thus far. In crypto parlance, reducing the number of tokens in circulation is called a “ burn”. This generally tends to have a positive impact on price long-term, as the total number of tokens become more scarce.īinance reduces the supply of BNB every quarter based on the amount of trading volume. BNB TokenomicsīNB is a deflationary token, meaning that the total number of BNB tokens decreases over time. The 29 million users of the Binance exchange are incentivised to use BNB wherever possible and are rewarded with 10-25% discounts when using BNB for transactions fees and payments. ![]() Quite simply, BNB is used to pay and validate transactions on the Binance Smart Chain (BSC). ![]() Binance Coin (BNB) 1 Year Chart: CoinMarketCap What is Binance Coin (BNB)?īinance Coin (BNB) is the native token of the Binance ecosystem. As of today, BNB is ranked as the 4th largest cryptocurrency by market cap and is one of the most well-established & widely used digital assets in the cryptocurrency sector. Over the past 3 weeks, however, the market has begun to recover BNB coin has recouped some of its gains, and is currently valued at US$416 ($561 AUD) down 21% YTD. Most experts are bullish on BNB and expect Binance’s healthy war-chest and its focus on new blockchain developments to provide strong long-term price action.Ģ022 started off poorly for crypto investors, with the overall crypto market witnessing some pretty substantial losses throughout the first 2 months of the year.BNB is currently down 39% from its all-time high (ATH) on and is down 21% year-to-date (YTD).BNB significantly outperformed both Bitcoin (BTC) and Ethereum (ETH), growing over 1,300% in 2021 - researchers expect this trend to continue.Binance Coin (BNB) is the native token of the Binance ecosystem and the 4th largest cryptocurrency by market cap. ![]()
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