Binance Coin (BNB), the digital asset native to the largest cryptocurrency exchange in the world, Binance exchange, has continued to maintain its top performance. The Binance Coin price has grown by a massive 200% since the beginning of this year. It is arguably one of the best performing cryptos of 2019.
Binance Coin price charts have shown that the digital asset has maintained its impressive performance since its launch. Let us see how Binance Coin offers fair value for investors. As of press time, BNB is trading at $19.25. The digital asset is up by 4.77% in the last 24 hours according to CoinMarketCap.
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Binance Coin Price Prediction: BNB One of Only a Few Coins to Grow and Hold its Value Since January 2019
The price movement for Binance Coin (BNB), shows that it is one of only a few digital currencies that has managed to expand and hold its value despite the recent overall crypto price retraction. Now the BNB price prediction indicates that the digital asset has added 2% in the last 24 hours and is trading in the bullish zone. We take a look at how Binance exchange has pushed its native token to attain the heights it has since its creation.
Binance Coin Price Prediction: BNB Utility is Derived from What the Coin Offers via Binance Exchange
Compared to traditional cryptos, that can participate in a broad range of markets, BNB utility is derived from what the coin offers via the exchange. Binance Coin like every other digital asset can be traded and used outside Binance exchange. However, it gives investors an incentive to keep their coin on the exchange.
BNB is can function as a trading pair for the cryptos offered through Binance exchange. It gives users a universal base-pair apart from what is offered in Bitcoin or Ethereum via the majority of exchanges. Binance also offers a BNB conversion feature. This feature “sweeps” small coin holdings as well as leftover crypto into BNB. This allows investors to collect loose change that usually accumulates in their account.
Binance Coin Price Prediction: Binance Exchange Has Created Ingenious Ways to Drive Users Into Investing in BNB
Binance exchange has also found other ingenious ways to of errors user incentivize into investing in BNB. One incentive is ensuring trading fees are paid at a discount in BNB. While this discount feature is attractive, settling fees in BNB allow users to strategically invest in the digital asset. For crypto investors, who have the opportunity to initiate hundreds of trades per week, the reduced fees is one way of squeezing out extra percentage points as profit.
Another worthy mention is the fact that Binance exchange has made several changes to its ICO Launchpad service. This service heavily favors the BNB coin. As opposed to a first-come, first-serve model in the past, the exchange has implemented a lottery mechanism that allows users to hold huge amounts of BNB in order to have an opportunity to invest in new token launches. Large capital investors, or Launchpad token sales regular participants, are required to own up to 500 BNB. They will have to hold it in their accounts for the period the leading to sales. The goal is to have the best opportunity of getting drawn in the lottery scheme.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.