Binance Coin is the token that fires all operations on Binance exchange. Binance Coin was built in 2017, operates natively on the Ethereum Blockchain, which comes with a high level of security in the market. In the past three months, BNB’s price has tripled itself, turning it to be the hottest coin in the market currently. The current value of Binance coin is approximately $15. Binance is the most significant digital asset exchange when it comes to the trading volume. The coin is currently showing the best display in the crypto market and is holding the seventh spot as per CoinMarketCap.
What is Binance Coin?
Binance coin is a digital currency distributed by the most famous crypto exchange Binance. BNB is employed by users to pay the fees levied by Binance exchange for utilizing the services which are not restricted to exchange fees, trading fees, and listing fees. Additionally, Like any other crypto, BNB can also be traded on supported cryptocurrency markets.
Binance Coin has already been used for paying for the transaction expenses that various exchanges impose upon the users. Ahead of this, the currency is looking at some further brilliant possibilities. With its reputation, it is soon to be the favorite medium of crypto exchanges that are attempting to issue initial coin offering ICO. This will undoubtedly help startups to get listed on a popular platform such as Binance. Currently, it is one of the most fluid exchanges that boasts 1 billion trading volume of 24 hours basis.
Market Prediction For Binance
As we know, Binance Coin is one of the hottest coins with great potential to grow exponentially, let us check what the forecast sites have got to state about BNB price prediction 2019:
#1 Digital Coin Price
Digital Coin Price has provided BNB predictions for every month in 2019. They have foretold that by 2019 end, Binance Coin may reach $22.86, which is a reasonably stable prediction.
#2 Coin Fan
Coin Fan is known for its positive and bullish prediction. They have predicted that BNB might touch $109 by the end of 2019 and by 2020 end, BNB may reach $390.815.
#3 Crypto Ground
Crypto Ground understands that the value of BNB might decrease in the coming months and might go down to $6.4202 and in 5 years time frame, BNB might touch $28.1705.
#4 Trading Beasts
Trading Beasts also have given a considerably negative and bearish prediction, where they think BNB might fall to $12.33 by the close of 2019 and might reach $26.92 by 2020 end.
Binance LaunchPad Update
Binance LaunchPad is a platform launched by Binance Exchange to promote the launch of new crypto on its platform. The success of the LaunchPad Platform is commendable; the BitTorrent (BTT) token and Celer crypto sale were accomplished in minutes after the launch.
Huobi and Okex have also started similar platforms based on Huobi Token (HT) and OkJump Start. However, Binance is leading this aspect of crypto as well along with being the highest ranked Exchange w.r.t. Total volume.
The changes introduced in the Launchpad include a ‘lottery system’ in place of the first come-first serve system for ‘new tokens’ announced on the LaunchPad. The users will now have to ‘hold’ Binance (BNB) Coin 20 days before the launch of a new token. The users will then be allotted a particular number of ‘lottery tickets’ depending on their BNB balance during the 20 days. The winner of each ticket will then be allotted a $500 slot to purchase the ‘new crypto’ on Binance LaunchPad.
Binance Coin Outperforming The Entire Cryptocurrency Market
BTC is the largest crypto per market capitalization. The market share of the flagship crypto is more than 50%. Since the start, there has been a correlation within the price of BTC and the price of virtually every other crypto. Few coins have been able to break this link. Even when they do, it is only temporary. The Binance Coin, on the other hand, appears to have violated the relationship entirely as it is no longer tracking BTC.
The Binance Coin burn started when the crypto winter started at the start of 2018. At the time, all the top cryptos per market capitalization fell significantly against the USD. However, the Binance Coin burn appears to have come to an end as the native token of the Binance Chain is currently up by 141. 7% since the start of the year while BTC is only up by 4%. BNB is outperforming the whole cryptocurrency market. It has stopped tracking the value of BTC.
BNB Coin Price Prediction 2019
There are plans of Binance chain mainnet this year with Binance DEX as the central service that will operate on top of it. The BNB blockchain would be administered by dPoS consent of 11 nodes that will reach “decentralization” through pBFT, similarly to NEO blockchain. Even there are good plans of the Binance coin exchanging from the Ethereum blockchain and finally, move to the mainnet after launching DEX which has happened some days back. Binance Coin will play an essential role in the new blockchain and decentralized exchange and can be utilized to pay for exchange fees, which will enable investors to receive a discount on the cost of their sales. By 2019 end, BNB might touch $25.
BNB Price Prediction In 5 years
Binance Coin price forecast suggests that the value of BNB is up for a long-term 487.470763%in the BNB price value with a 5-year investment time frame. This indicates that by 2023, the BNB price is projected to stand at $89.7.
Disclaimer: The content provided in the article should not be practiced as it is, and is not meant to provide, investment advice. Coinsmarketcap and its members, representatives, and writers give the information about the coin with careful study. Please conduct your precise survey before investing in any crypto.