In 2018, when the crypto winter was at its toughest, top digital assets declined significantly with BTC losing as high as 80% of its value. It got a point were analysts and investors began to ask “will crypto ever recover?” Will crypto rebound from the extended bear run? Now the story is different. Since the beginning of this year, the collective crypto market has seen a huge upswing as the infamous crypto-winter comes to a close. A number of stablecoins have defied the bears by going on to break multiple resistance positions and attain notable highs.
Binance Coin Price Prediction: The Price of Binance Coin Makes it One of the Standout Performers
One stand-out is Binance Coin. The price of Binance Coin moved up to the point that the digital asset broke into the top 10 digital assets by market capitalization. BNB price trend took the market by a storm. It has a grown by 300% percent since the beginning of 2019 due to more adoption and other positive initiatives via Binance exchange.
Binance Coin Price Prediction: The Price of Binance Coin is Up 300% Already
Binance Coin, the token native to the world’s leading exchange, Binance, has continued gaining value. It has moved against the price consolidation trend impacting a large portion of the market. As of April 19, the price of Binance Coin closed the day on double-digit gains.
Binance has initiated a series of programs to incentivize investing in BNB and holding for more extended periods. Users can conveniently “sweep” left-over and/or small amounts of tokens into BNB. The coin offers a discount on trading fees to investors. The result is that every BNB investor has ownership in or incentive to own the coin thereby increasing their familiarity and liquidity of Binance Coin.
Binance has instituted a lottery program to support its ICO Launchpad service. As opposed to the first-come, first-serve model previously employed by the exchange, the lottery relies on users being issued tickets according to the amount of BNB they hold. Investors who are investors hoping to be a part of the lottery must hold on to the requisite amount of Binace Coin in their account creating an artificial demand for BNB.
Binance Coin Price Prediction: Thanks to Binance the Price of Binance Coin Has Attained New Heights
Binance the exchange has created conditions that has driven its native token to the forefront. Much of the current crop of investment into BNB that has taken its price higher is reports that the exchange will keep finding ways to boost the value to their native coin. Considering the direction of crypto adoption, which has recently been positive and upward in 2019, interest in crypto is growing and it is expected to increase. Investors are expecting a flood of new traders to enter the industry in the coming years.
While the price of Binance Coin is up by 300% since the start of 2019, investors believe it will continue climbing as a result of mass adoption and popularity. The price of Binance Coin is $23.59 at press time, according to Coin Market Cap.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.