Binance currency rallies (BNB) tripled in three months

Binance Coin (BNB), the native token of one of the world's largest cryptocurrency markets, has seen its value triple in the last three months, making it arguably the best-performing cryptocurrency in the world. quarter. This has led some experts to think that Binance Coin could follow in Bitcoin's footsteps, which reached over $ 20,000 by the end of 2017.

Binance Coin Experiments Mbadive Rally in 2019 and Becomes the Most Successful Coin

Although many companies are still struggling to stay afloat in a difficult market environment – Binance, the world's largest cryptocurrency market – seems to be doing well.

Given the performance of the company's native chip, Binance Coin, since the beginning of 2019, it appears that the exchange outlook, which is reflected in the NBB's price, is extremely positive. The eponymous token of the Malta Stock Exchange has more than tripled in the last three months and is currently trading at around $ 15.

However, this is not the case for the rest of the digital badet market, as it has hardly changed since the fall of last year, with most coins remaining at 20% or less of their highest records. .

The BNB coin is widely used by Binance users to pay the trading fees of the stock exchange. It has also become a popular medium of exchange for ICO issuers, as this piece allows startups to raise funds by registering on Binance; The stock market is one of the most liquid trading platforms available and handles about $ 1 billion in trading volume each day.

"The best execution team in crypto"

If history has any influence on the cryptography markets, it seems that most price hikes are experiencing a sharp drop. However, some experts believe that BNB could be different.

Tushar Jain, Managing Partner of the Multicoin Capital Management hedge fund in Austin, Texas, said that Binance was the "best execution team in crypto".

"We expect to retain them in the near future," said Jain.

According to Bloomberg, what made Binance Coin attractive for investors is the company's usual practice of linking the performance of the exchange to the number of tokens in circulation. After the company's 2017 OIC, where 200 million BNB coins were issued, around 50% of them were allocated to company employees and investors.

The company expects to spend 20% of its profits each year to buy and destroy Binance Coin, a steady increase in demand is expected. This mechanism also allows Binance to simulate equity in the company without the same emission constraints.

Changpeng Zhao, the co-founder of the stock exchange, said Binance was in the same boat as his clients. "We do not want the price to go down, to have a negative impact. We are very aligned with our investors, "he told Bloomberg.

However, although share buybacks are commonplace among public companies, there are concerns about whether the BNB's coins are actually securities. Zhao said he did not think the coins should be clbadified as securities.

However, many members of the cryptographic community still worry about pieces falling under the jurisdiction of local regulators, as this would subject them to both federal authorities and securities departments, thereby impeding the trade and availability of securities. cryptocurrency.