Binance coin (BNB) continues to show strength even as the rest of the market remains depressed. It has hit its all-time highs against Bitcoin (BTC) and has the potential to outperform it significantly, irrespective of how the market trades this year.
Binance coin’s performance is unique in that, unlike other cryptos that are largely speculative, its demand is grounded on solid business logic. Hardcore Cyberpunks may not like it that much, but it is the coin to hold for anyone in crypto for the tech, as well as for the potential profits. Here’s why Binance coin (BNB) holds lots of potential compared to the rest of the market.
New crypto listings on Binance
Binance is without a doubt one of the most successful cryptos in the market. In fact, at this point it is probably the most influential crypto exchange on the planet. This means that every new coin coming to the market dreams of getting listed on Binance.
The people at Binance know this, and as rational business people, they capitalize on this demand to charge fees for new listings. You are probably wondering about how this connects to BNB, right? Well, Binance has a system whereby new projects looking to list, get a discount if they pay their fees in Binance coin (BNB). This means that as more projects list on Binance, the demand for BNB will stay high, and this will continue to support its price. In essence, the more powerful Binance gets in crypto space, the more projects will want to list on it, and the higher the demand for Binance coin (BNB).
The Binance Launchpad is another ingenious idea by Binance that guarantees BNB growth going into the future. The Binance Launchpad is a platform for launching ICOs on Binance. So far several ICOs have launched on it, and the demand is astronomical. Again, this has a huge bearing on the value of BNB. That’s because, for investors to participate in these ICOs, they first have to purchase Binance coin (BNB). This creates a consistent source of demand for Binance coin (BNB), one that affects its price dynamics independent of the rest of the market. That’s because, as more ICOs launch on the Binance Launchpad, they will drive up the demand for Binance coin (BNB), irrespective of where the rest of the market is going.
Periodic coin burns
On top of the above demand-driving factors, Binance coin (BNB) is also supported by periodic coin burns that serve to cut on its supply. Due to the above two factors, the next Binance coin burn could take this crypto to astronomical levels. It could easily take Binance coin (BNB) to 3 digit prices.
In essence, Binance coin (BNB) maybe different from Bitcoin (BTC), at least in the ideological sense of it, but it makes lots of sense as an investment. In fact, in a market full of shaky projects that have no real fundamentals, it could be the smartest crypto to buy and HODL. There is a solid and quantifiable basis for its growth.