Why Binance Coin (BNB) Is Still Worth Holding

2384 0 0 0 0 0 (2)


It's been a while since we examined Binance Coin (BNB) price action. Upon review, it's obvious that it has been one of the top performers throughout the 2018 pullback, bear market, consolidation or whatever else you want to call it. When I first wrote about Binance Coin (BNB) oh so many months ago it's buying zone was between the 7-9 dollar range. Today the buy zone has shifted drastically and BNB has seen its supply line move up over time.

Now Binance Coin (BNB) finds its support around 12 USD bouncing from the low 11 dollar range to the mid 13's. These are all just short-term fluctuations however and BNB has found recent highs of 15 USD and above. The bigger picture here reveals a consistent uptrend, a few people have taken to calling Binance Coin (BNB) the new Bitcoin (BTC) in a nod to its exponential growth. It's far too early to say all that, but Binance Coin (BNB) does have an excellent future outlook.

 

In regards to the Binance Coin (BNB) price chart, it has followed a relatively straight, gradual climb up the past few months. We can make out what appears to be a bullish bat forming in the charts, I would not be surprised to see the price fall slightly from this position, back to the 10 USD range or lower as Bitcoin (BTC) price heats up and altcoins gain more volume. BNB has become somewhat stable due to it's use as a trading instrument, often making a far better pairing choice than fiat money or USDTether (USDT). As coins begin to rotate this situation may change and higher volatility could return to Binance Coin (BNB). If the market decides to make a bull run happen in 2018 BNB will be swept along for the ride, and I expect it will continue to hold its gains a lot better than most cryptocurrencies. 

Future catalysts are expected and the heart of the operation is becoming a financial powerhouse. Buybacks have been successfully going for some time, the quarterly burn in combination with lowered trading fees for holders enticed many to keep a supply at all times helping to stabilize the price even during the most severe market turmoil. We also have the Binance chain to look forward to in the future.

A necessary step in transforming the Binance exchange into a decentralized exchange, it will be some time before Binance Coin (BNB) has it's own native blockchain finished. Upon its release, staking will begin and buyers eager to own a node on the blockchain are using the downtime to accumulate their position. For now, it remains on the Ethereum (ETH) blockchain as an ERC20 token There is no official word on the amount needed and rumors vary wildly from numbers as low as 100 and up to 1000, there is no clear answer just yet. Beyond the perks of the coin lies the actual company. Often people equate buying a Binance Coin (BNB) to buying stock in the company itself, and that company is profitable.

More from Hade Platform:

Sign up HERE for FREE access the world's fastest-growing, most powerful research platform for stocks and cryptocurrency, MatriX!


Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive content


Comments (2)

image
  • John R
  • ,  Contributor
  • 27 July 2018, 09:07 am

Love this growth last few days, which I had more exposure to exchange coins.

   0   Reply (0)   Follow(437)  

    image

    Binance Announces the Completion of ONT MainNet Swap

       0   Reply (0)   Follow(437)  

      Recent Updates

      •   
        Mar 6, 2019 11:15 PM

        DENTSPLY SIRONA Inc - Consumables Revenue

      •   
        Mar 6, 2019 11:15 PM

        DENTSPLY SIRONA Inc - Europe Revenue

      •   
        Mar 6, 2019 11:15 PM

        DENTSPLY SIRONA Inc - United States Revenue

      •   
        Mar 6, 2019 11:15 PM

        DENTSPLY SIRONA Inc - Rest of World Revenue

      •   
        Mar 6, 2019 11:15 PM

        DENTSPLY SIRONA Inc - Technologies and Equipment Total Net Sales ex. PM sales Revenue

      •   
        Mar 6, 2019 11:15 PM

        DENTSPLY SIRONA Inc - Technologies and Equipment Revenue