Binance coin( BNB) is a cryptocurrency that has done exceptionally well even during the market’s downfall. It runs exclusively on the Ethereum Blockchain alongside other ERC-20 tokens. Since its ICO launch in July 2017, the coin has seen a sharp rise in its value and has earned its way to the top 20 cryptocurrency list on CoinMarketCap.
Binance(BNB) Price Today
The day began at $14.57 with a market cap of $1.6 billion. No major variations in the price were displayed during the day. The prices varied from $13.86 to $14.58. BNB is doing reasonably well today with no major fluctuations but is also trying to reach $15. The trading volume is presently estimated at $56 million.
Bitcoin is battling a bearish market and is experiencing major fluctuations. Currently, one BNB equals to 0.00236 BTC. BNB has fallen by 1.42% against BTC while it has soared by 1.31% against Ethereum.
BNB Prices over different time periods
BNB Price: Last seven days
The coin surpassed $17 last week. The key resistance level was traced at $17.15. The coin failed to climb above $20 the whole week and doesn’t promise a surge according to the current stagnant trend.
BNB Price: Last 30 days
BNB was priced at $12.60 at the beginning of the month. It hiked up to $17 but failed to rise to $ 20. The past month has clearly seen a reasonable rise in prices. On June 6 BNB reached 0.002287 BTC and set a new milestone. This pushed BNB’s market capitalisation above 1.9 billion and made it the 17th largest cryptocurrency by market capitalisation.
BNB Price: Last 90 days
BNB chart for the past 90 days indicates that the coin has been braving the bearish market with price fluctuations varying from $10 to $17. The key resistance level was traced at $17.44. Even though BNB fails to reach $20 the prices can be said to remain fairly stable and can be considered as an investment option compared to other cryptocurrencies.
BNB Price Prediction 2018,2020
According to Walletinvestor the price of BNB will be $21.089 in one year. The long-term earning potential of the coin is estimated at 52.64% for a year. In five years the value of BNB will be at $43.825. This clearly shows that BNB is a very reliable investment option which can promise profitable long-term returns.
The Binance team utilises 20% of its total profits to buy back BNB, its native coin. On April 15, Binance was reported to have finished burning 30 million tokens to maintain a balance between demand and supply. Buying back BNB and destroying them ensures the coin value increase of the remaining costs.
Binance has achieved much fame since its launch not just in China. The company will most likely embrace more partnerships over the year. It has already partnered with NEO smart economy, a Blockchain project from China. Initially, the coin showed a promising future as its prices continued to surge despite the stringent regulations. However, the recent Japanese regulations seem to have affected the coin prices.
Binance recent news
- Binance launched a cryptocurrency exchange in Uganda. The new platform, Binance Uganda, will be the company’s first foray into fiat-crypto trading – supporting the Ugandan Shilling, alongside major cryptocurrencies.
- Binance has opened trading for KEY/BTC and KEY/ETH trading pairs on Wednesday. Selfkey prices hiked as soon as the announcement was made. After Selfkey (KEY) got listed on Binance, the coin prices surged from $13 million to $17 million and continue to grow.
From the above analysis, Binance Coin is a profitable long-term investment as well as a worthy short-term investment. Binance Coin is a favourable investment option since it’s powered by one of the best exchanges. Binance Coin should continue to increase in value in the future if the current trend remains.
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