The month of May closed with BNB falling below the $300 mark as the selling activity increases. As such, the price was expected to fall to the $280.00 mark before stabilizing. The suggestion is reinforced by the mid-term technical analyses that are also highly bearish. Further downwards movement is unlikely as trade volume remains low.
A year ago, the observation was that BNB and LINK were the only two coins that really steadily went up during the bear market. It is quite likely that as BNB continues to grow in popularity, we will see wider use of BNB. With the introduction of the Binance Card, BNB could almost be used anywhere, though technically speaking, with every transaction, it will be converted into fiat.
A good indicator would be market performance. Let’s take a look at how BNB compares with other altcoins.
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The crypto token has garnered support from other partnerships which has helped its usage spread. It includes a partnership with Asia’s premier high-end live video streaming platform, Uplive, which sells virtual gifts for BNB tokens to Uplive’s 20 million-strong user base.
Binance coin is also supported by the platform, the mobile app, and the VISA debit card of Monaco, the pioneering payments and cryptocurrency platform.
Fortunately, price predictions are meant to cover price forecasts for Binance coins for a prolonged period. Therefore, short-term trends are not primarily instrumental in determining the future price of a coin. As a result, the Binance coin price prediction for 2022 onwards will focus on historical price actions and the price predictions from market experts.
Today’s BNB price is $220.93 with a 24-hour trading volume of $1,797,128,935. BNB is down 14.49% in the last 24 hours. The current CoinMarketCap ranking is #5, with a live market cap of $36,072,059,212. It has a circulating supply of 163,276,975 BNB coins and a max. supply of 165,116,760 BNB coins.
Ce este Binance Coin?
The Binance coin is listed on the Binance trading platform as an individual coin, a digital asset, trading with the BNB symbol. Binance coin started in 2017 and is backed by blockchain. BNB coin runs on ERC20 Ethereum. the Binance ecosystem is designed to support a range of utilities, such as trading fees, listing fees, exchange fees, etc.
Furthermore, the main reason why Changpeng Zhao (founder of Binance Exchange) initiated the BNB coin was to remove many trading problems hindering the crypto market. The vision he had made solved those problems and, at the same time, made Binance coin a top competitor with other crypto exchanges.
Prezentare generală a monedelor Binance
Prezentare generală a monedelor Binance
Monedă | Simbol | Preț | Capitalizarea pieței | Schimba | Ultima 24h | Aprovizionare | Volum (24h) |
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Who are the founders of the Binance exchange?
Changpeng Zhao and He Yi started the Binance coin in July 2017. They first began Binance as an Initial Coin Offering (ICO), but today, Binance has become one of the most significant crypto coins globally.
Is there a maximum supply of BNB coins?
Yes, a maximum supply of 170,532,785 BNB coins is available, and 153,432,897 have been distributed as of April 2021. Binance whitepaper says that half of the top supply was used for the ICO and public sale of the token.
Binance Coin adoption and technology
Binance coin is famous for many reasons, but a significant reason is that it holds about 1 billion in trading volume every day. Binance seems to have a very bright future, but it needs stability. To do that (bring stability) and avoid sudden market fluctuations, BNB will have to be burnt using a systematic approach.
BNB had the potential to have an initial coin offering (ICO) of 100 million, and upon its launch, it hit the potential in July 2017, and $15 million was successfully raised. The generated funds were used to make the ecosystem larger by using a large sum of the money for marketing purposes, an exciting business opportunity that provided crypto startups a chance to be listed on the Binance cryptocurrency exchange platform.
Another essential characteristic that makes BNB unique and a center of attraction for adoption is that other digital assets can be traded for BNB. It can pay the Binance 0.1% trading fee when users move their crypto coins from the exchange to a private wallet. The price is typically charged in addition to the withdrawal fee.
However, Binance does not support smart contracts and uses the Tendermint Byzantine-Fault-Tolerance (BFT) consensus protocol which allows multiple nodes (Validator nodes, accelerator nodes, etc.) to be used in transactions, validation, and authentication processes at different stages.
Another vital advantage of the Binance coin is that it can be used in particular ICO investments using the Binance launchpad program; this creates a flawless framework where other virtual tokens can be traded. This creates an excellent opportunity and allows for extra credit and debit cards to be supported on the Binance cryptocurrency exchange platform, the digital currency, and the mobile app.
Binance Coin to Bitcoin Price Chart — TradingView
Learn More About Binance NFT Marketplace
Binance Price History
The varying price differences of Binance Coin (BNB) can be studied better using Indicele de volatilitate cripto (CVIX). CVIX helps to analyze the price dynamics and helps to ponder on essential elements that affect the current price and future Binance coin price. CVIX also carefully visualizes the algorithmic methods that demonstrate the market sentiment of BNB, either in a positive or negative light.
Binance coin had a remarkable 2019. It was positive in many aspects, and although the currency slowed a little in the second half of the year, it had a significant push by the end of 2019, primarily because of the IEO that was launched later that year. Binance coin price closed in 2019 with a gain of over 150%. However, the following year (2020), a noticeable downward pattern was noticed. It was ongoing for more than six months, mainly due to the pandemic at the beginning of the year. The downward trend was seemingly more extended than usual.
A significant characteristic of many cryptocurrencies is volatility, and the Binance coin suffers from the same. Binance coin has shown a lot of potential over the short-term price analysis. Let’s see what experts have to say about the BNB.
Coinfan’s Binance coin prediction is that BNB holds an optimistic future as that the current price rally might continue till the end of the year. Take a look at this progression in BNB prices.
Source: https://www.cryptopolitan.com/binance-price-prediction/