Binance Coin is a crypto currency issued by the crypto currency exchange Binance, and as of April 2021, it is one of the most popular crypto currencies with a market capitalization ranking of 3rd.
If you do not have an account yet , please create a BINANNCE account and consider investing.
This time, we will explain the features of Binance Coin, past price changes, future outlook, etc. in an easy-to-understand manner.
- What is the crypto currency Binance Coin?
- Features of Binance Coin
2-1 Benefits of using it on exchange binance
2.2 We carry out burn (incineration) on a regular basis - Binance coin price changes so far
3.1 December 2017-Soaring due to crypto currency bubble
3-2 2019 Demand expands with the token sale of “Binance Launchpad”
3-3 2020 DeFi attracts attention and binance coins soar - Current rating of Binance Coin
- Future forecasts and outlooks for Binance Coin
1. What is the crypto currency Binance Coin?
Currency (token) name Binance coin
Ticker symbol / unit BNB
Current price (as of April 2021) Approximately $ 400
Market capitalization (as of April 2021) Approximately $ 60 billion
Market capitalization ranking (as of April 2021) 3rd place
Binance Coin is a cryptocurrency (token) used on the Binance exchange, originally issued by Binance, the world’s largest cryptocurrency exchange based in Malta.
It is by far the most popular token on the Ichi Exchange, and as of April 2021, it holds down the famous crypto currency with various functions and ranks 3rd in the market capitalization ranking.
2. Features of Binance Coin
Binance coins have the following features.
Two main features of Binance Coin
Benefits of using it on exchange binance
We carry out burn (incineration) on a regular basis
Benefits of using it on exchange binance
Binance coin is a crypto currency (token) handled by Binance of major exchanges, and by using it in Binance,
Transaction fees are discounted
You can exchange money
The benefits such as are demonstrated.
First of all, Binance has a relatively low commission of 0.1%, but if you pay with Binance coins, the commission will be further discounted.
Also, when using an exchange, a small amount of crypto currency may sometimes remain, but with Binance, you can exchange small coins of “0.001 BTC or less” for Binance coins. ..
We carry out burn (incineration) on a regular basis
Burning is the act of the management side disposing of a part of the crypto currency.
By disposing of a part and reducing the total amount, there is an advantage that the rarity value can be increased.
Binance coins have a maximum issuance limit of 200 million, all of which have already been issued.
In Binance, we are supposed to burn Binance coins, which is 20% of the operating profit obtained in the previous quarter, every quarter, and the burn progresses as the operating profit increases, and the rarity of Binance coins faster as the operating profit increases. It is a mechanism that increases the value.
In the end, we will reduce the number of sheets to 100 million, which is half of the number.
3. Binance coin price changes so far
Binance Coin Chart
Next, let’s take a look at the price changes of Binance Coin so far.
The chart above is the BNB / USD chart from the listing of Binance Coin in July 2017 to the end of December 2020.
It has formed a large ups and downs wave many times, but from a longer-term perspective we can see that it continues its uptrend.
In addition, the following three points are important in the price transition so far.
Binance coin price transition, 3 important points
December 2017-Soaring due to crypto currency bubble
2019 Demand expands with the token sale of “Binance Launchpad”
2020 DeFi attracts attention and binance coins soar
If you do not have an account yet , please create a BINANNCE account and consider investing.
3-1. December 2017-Soaring due to crypto currency bubble
In the latter half of 2017, the so-called crypto currency bubble occurred, and Binance coins were likely to soar.
Also, in 2018, like many crypto currencies, it has plummeted due to the bursting of the bubble economy.
However, what makes Binance Coin unique compared to other cryptocurrencies is that it did not drag the effects of the bursting of the bubble so much.
It hit a new high during the bubble in April 2019 and is recovering in a relatively short period of time.
For details, please also refer to the article on Bitcoin’s outlook.
3-2. 2019 Demand expands with the token sale of “Binance Launchpad”
“Binance Launchpad” is a platform for “IEO” that sells tokens issued by new projects.
BitTorrent BTT tokens were held in January 2019, Fetch tokens were held in February, and Celer Network (CELR) IEO was held in March.
Depending on the content of the IEO, you can only invest in a limited number of currencies, such as Binance Coin.
That is believed to have boosted demand for Binance Coins.
3-3. 2020 DeFi attracts attention and binance coins soar
Binance operates Binance DEX, a decentralized exchange, which is one of DeFi (decentralized finance).
If you would like to know more about DeFi and decentralized exchanges (DEX), please refer to the explanation article about DeFi.
We are also working on a platform for yield pharming.
What is yield pharming?
Yield pharming is an operating model that provides liquidity by lending or providing assets to decentralized exchanges (DEX), etc., and earns profits from staking as a reward.
In 2020, DeFi got a lot of attention, which helped Binance and Binance coins become popular.
Official Binance Registration Page
It’s free, so please register now.
4. Current rating of Binance Coin
Next, I will explain the current evaluation of Binance Coin.
The image above is a BNB / USD chart from January 2021 to April 2021.
As you can see at a glance, Binance Coin soared in February 2021.
The opening price in February 2021 was about $ 51.5 per BNB, and the highest price on February 19 was about $ 333.7, which means that it had swelled up to 6.6 times at one point in February.
It has skyrocketed again since the beginning of April and is currently moving at a price of around $ 400.
The price has risen more than eight times in the last three months.
There are two strong views that the factors behind the surge in Binance Coin this time are as follows.
2021 Binance Coin Soaring Factors Two
Token sale was held at “Binance Launchpad”
Binance Investment Fund with $ 1 Billion Leads Financing
Token sale was held at “Binance Launchpad”
As I mentioned earlier, “Binance Launchpad” will sell tokens issued by new projects (IEO).
In February 2021, a token sale of the new project “SEP (SafePal)” was held for 6 days from February 3rd.
The SEP sale says that you will be entitled to buy according to the average amount of Binance coins you have, and it is soaring that about 47,000 investors have locked up $ 800 million of Binance coins. Is believed to have triggered.
Binance Investment Fund with $ 1 Billion Leads Financing
On February 9, 2021, it was found that the investment fund “Binance Lab” operated by Binance led the financing of the main blockchain (parachain) candidate “Plasm Network” of the crypto currency Polkadot.
This was also taken positively by the market and is thought to be due to the soaring Binance Coin.
5. Future forecasts and outlooks for Binance Coin
At present, the price of Binance Coin has skyrocketed and has entered a temporary adjustment phase, but it is expected to continue to grow in the long run from the next point.
Two points fortune-telling the future of Binance Coin
Affected by the exchange’s assessment of Binance
Rare value will continue to increase due to burn
Affected by the exchange’s assessment of Binance
Binance is a cryptocurrency exchange that boasts the highest trading volume in the industry.
In addition to doing business as an exchange, for example,
Business tie-up with “Crypto Mall”, the world’s largest shopping mall dedicated to crypto currency
Operates Binance DEX, one of DeFi
Operation of “$ 100 Million Grant Fund”, a program to support some DeFi projects
We are actively developing our business.
As you can see from past price changes, exchange Binance and Binance Coin price movements are closely related.
If the market positively accepts the movements of various Binance businesses, Binance Coin will continue to attract attention and continue to grow.
Rarity value will continue to increase due to burning
As mentioned in the feature section, Binance Coin burns (burns).
Since the quantity has not reached the target of 100 million pieces, it is expected that burning will continue in the future, and as a result, the scarcity value will increase and the price will be affected.
If you do not have an account yet , please create a BINANNCE account and consider investing.
