Binance coin (BNB) has seen a consistent value growth in the last 3 weeks. In fact, it is one of the few coins that have performed extremely well in Q1 of 2018, even as the rest of the market plummets.
So what’s giving it this momentum? There are several factors, but the most important one was the announcement that Binance would be launching its own blockchain. Through this blockchain, Binance intends to launch its own decentralized exchange, and Binance coin (BNB) will be the power behind it.
Considering the high levels of acceptance that Binance has received in the market, you can expect that the Binance decentralized exchange will pick up pretty fast too. And with that, the value of Binance coin will grow too. Investors are anticipating this, which explains why they are flocking to buy this coin, even as the rest of the market drops further into bearish territory.
The second factor that is driving Binance coin (BNB) is the security measures that Binance has taken in recent days to protect investors’ money. For instance, a few weeks ago, the company announced that it had waded off a potential attack, and was offering a $250k reward to anyone with the information on the hackers.
This to a large extent instilled confidence in this exchange, and the same reflects in the value of Binance coin. That confidence shot up even more today, after Binance came out to explain why people were unable to log in to their accounts for some hours. A statement from the CEO stated that they had a bug in their systems, and that the problem was being resolved. This reaffirmed investor confidence in this exchange, and the same is reflecting in the value of Binance coin. As more people turn to this exchange, you can expect the value of this crypto to continue going up.
Another factor that is driving up the value of Binance coin (BNB) is the upcoming launch of Binance labs. This lab will launch once Binance goes decentralized and turns from a company to a community. The reason why this is a having an impact on the value of Binance coin is that the projects that will come out of Binance labs will use Binance coins. In other words, it will be the fuel that will run them. Once this gets actualized, it will give Binance coin a fundamental value that is lacking in many other cryptos in the market today.
Up to this point, every decision that the Binance team has taken has shown that this company in the crypto business for the long-haul. As such, by investing in Binance coin, you can rest assured that you are investing in a crypto that is here to stay, and it has everything it takes to back up its value. That’s why Binance coin (BNB) is growing so fast. In fact, if Binance coin (BNB) continues on its current trajectory, it could be worth over $100 by the end of the year. It’s one of the best coins to hold in the current bear market.