Binance Coin (BNB) was established by the Chinese cryptocurrency exchange called Binance. The exchange launched the asset on July 08, 2017 as a way to provide a handy coin for the trading platform and its loyalty program. Binance Coin was an ERC 20-based token issued via the Ethereum blockchain platform. However, the project released its blockchain.
The massive trading volume of the exchange caused a lot of positive BNB price predictions which were proven right shortly after its launch.
What is Binance Coin (BNB)?
The Binance Coin entitles users to certain privileges within the trading platform of the exchange. Users can have discounts of up to 50% for the exchange’s fees and an ability to participate in the Binance’s referral program.
The Binance Coin predictions are mostly positive specifically due to the fact that the coin combines both trading advantages of stablecoins and an opportunity to provide a speculative profit.
Similar to stablecoins, Binance Coin worth investing in due to the number of trading pairs that include the coin. Many companies and crypto exchanges also accept the coin as a mean of payment, making it very handy for traders. On the other hand, unlike stablecoins, the Binance Coin price chart is not fixed. The coin can show significant growth and provide its investors with a profit.
One can use Binance Coin to pay for any fees on the platform, including but not limited to: Exchange fees, Listing fees, and any other fees. When users apply BNB to pay for fees, they receive a significant discount, depending on the time spent using BNB to cover the fees.
For instance, the Binance users can have a 50% discount on trading fees during the first year since they started trading on the exchange. The trend leads to a 25% discount in the following year, 12.5% in the third year, 6.75% in the fourth year. The discount ends on the fifth year.
The token was established with a total supply of 200 million and is not mineable. All the issued coins were either distributed or burned after the launch of the asset. The Binance Coin whitepaper says that the exchange platform plans to use 20% of the profits each quarter to buyback and burn BNB until only 50% of the total BNB supply is in circulation.
Binance Coin Price Analysis
Binance Coin is a very successful cryptocurrency. The coin’s price took only around 5 months to grow from around 1 dollar per coin at the end of July to 23,45 USD on January 12, 2018. Similarly to most of the other cryptos on the market, the coin experienced a downtrend shortly after its winter price peak.
However, unlike the other cryptocurrencies, its downtrend wasn’t damaging. As a trading-focused coin, Binance coin has a number of use cases which positively affect its price. In addition, the coin grows in price both during the times of market downfalls and during its growth.
For example, when a certain coin price starts falling, the Binance exchange traders surely want to get rid of it. The case is, most coins (when we aren’t talking about the most popular ones) are only traded in pairs with Tether/Bitcoin or BNB. As a result, the BNB token price rises when other market participants are falling.
Still, the Binance Coin price predictions are not only positive during the dark times of the cryptocurrency market. As the market grows and various coins are becoming more valuable, more and more traders are coming back to their craft. Traders are buying Binance Coin as a trading tool with high liquidity to ensure their ability to exchange it for other coins with promising price trends.
The price of Binance Coin shows prominent stability, considering the current cryptocurrency market situation. For example, take a look at the Ethereum price graph for the same time period.
It is clear that there was a reason behind so many Binance Coin price predictions being so positive. The BNB price potential is very impressive. The coin is useful both as a speculative tool itself and as a pathway to the other assets on the market.
However, 2019 is extremely successful for the coin. The price of the coin began to rise in February when the asset entered the top 10 cryptocurrencies. Then the BNB broke a new record at a historic high against Bitcoin.
In April, Binance coin continued its increase. It was associated with overcoming the historical maximum of $25. In the same time, Ledger Nano S wallet adds the asset to its listing.
In June, a historical maximum was updated. BNB price increased to $35. This was the highest point in 2019. From that moment, the price of the coin practically did not grow.
Binance Coin Technical Analysis
Well, there is not actually any technical analysis expertise of Binance Coin cryptocurrency. However, here is the aggregate rating for BNB from several traders & analysts on TradingView.
Binance Coin (BNB) Price Prediction for 2020-2025
Binance Coin showed us some successful movements in 2019. How the cryptocurrency can change or improve its price? Let’s find out in our overview for the next couple of years.
#1. WalletInvestor BNB Price Prediction for 2020, and 2025
According to the source, it is a good long-term investment, which has an earning potential of 85.5%. The price won’t completely drop, and in 2020, it will be $24.1. In 2025, the BNB price can change and go up to $120.5.
#2. TradingBeasts BNB Price Prediction for 2020 and 2022
In 2020, the rate will grow up to $19.55. The slow price increase will result in $27.45 rate in 2022.
#3. DigitalCoinPrice BNB Price Prediction for 2020, and 2025
Binance Coin price will increase according to the predicted data. The source claims that BNB coin is a profitable investment. In 2020, the coin price will double to $30.7. In 2025, the price will not go bullish. One BNB will worth $50.8.
Buy BNB at the Best Rate
Buy Binance Coin (BNB) with USD, EURO or GBP online within minutes. Credit cards accepted.
It is easy to buy a BNB coin on many platforms. If you want to buy Binance Coin anonymously using your credit card (USD, EUR, GBP), you can use the Changelly platform.
Is Binance Coin a Good Investment?
Investing in Binance Coin (BNB) can make your experience with the Binance exchange platform better. Holding some BNB coins offers a lot of perks.
What Is Binance Coin Used For?
Binance coin is used to trade with other currency pairs on the Binance exchange. In addition, BNB is designed to pay exchange costs on preferential terms. If a trader, who makes a transaction, is obliged to pay Binance 0.1% of the total amount of the trading operation, then using the BNB token, this amount is halved.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. While price analysis is a useful tool, it should not be considered predictive for the future performance of any investment vehicle.
Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment. Website personnel and the author of this article may have holdings in the above-mentioned cryptocurrencies.