BNB is one of the crypto projects that has the ability to be the biggest offside for the next bull run from all I can see on the price chart within the past few week I believe that BNB will do well in the next bull run though I'm not a crypto expert but I'm trying my best to learn more about cryptocurrency.
Let's do a little breakdown on BNB let's start from the roots to the top.
ORIGIN OF BNB
BNB which is also known as binance coin came from binance crypto exchange and was found by Changpeng zhoa in the year 2017.
In the month of July precisely BNB was a native cryptocurrency in binance platform and it plays an important through in July 2017 when binance initial coin offering took place and it was true ethereum blockchain that balance issued over a 100 million of BNB.
Gradually they were able to raise fund for the development of binance exchange and all users benefited from BNB because it's facilitated or transactions that happened in binance platform and it also reduces trading fee because it was used to pay for trading fee with some discount and additional incentives.
Gradually BNB grow and join in some decentralized finance projects and in also creating other new tokens this help to elevate all decentralized applications in binance ecosystem.
BMB achieved a whole lot in binance exchange.
TECHNICAL FEATURES OF BNB
The features helped BNB to function more in binance ecosystem of doing more than Its original purpose as just a token for trading fee.
BNB operates on binance chain which is the chain created for fast and secure transaction and with that it was just like a foundation for so many decentralized application in binance ecosystem also BNB uses the Bep-2 and Bep-20 token standard and this made it more compatible for both BNB native chain and smart BNB chain.
More to that use as can easily swap BNB with other token of cryptocurrency of their choice with less trading or transaction fee and this benefited both investors and traders and this also encouraged new users to invest millions today on BNB.
From time to time BNB gets scarce because binance burns certain amount of BNB tokens this positively impact and brings more value to BNB.
Of course traders can use BNB to yield farming to lend or perform any activities on decentralized exchange, also users who stake BNB earns rewards and as BNB holders they can as well vote for proposals and this made BNB exceptional from other cryptocurrencies.
Is functions in multichen and no cryptocurrency is easily burned like BNB to create value BNB is also used for payment of goods and services and with this it has expanded more than many other cryptocurrency.
So many users who invest on BNB of its multifunctionality so BNB is not just a native coin.
Many traders adopted BNB and whenever there is a token lunch pad BNB is staked or used in purchasing the newly launch token.
Example is during the lunch part of altcoin and currently portal coin BNB is set or used to purchase those newly launched coins.
Many travel agency accept BNB for payment of their services also many merchants accept BNB for payment of goods and services and this has contributed to the wise spread of BNB and is adoption even some non-fungible token platform on binance accept BNB for purchase of digital assets.
BNB Market performance.
Though I'm not a crypto expert but from all I can see right from the early stage of BNB it has always experienced growth when it comes to price movement because on July 2017 when BNB was launched it was just $0.10 at the end of 2017 it's moved to $20 what a massive growth and by July 2019 it got up to $39 and this brought so many use cases for BNB.
Burning of BNB token had a positive effect on its price movement because once the demand of BNB is high the price will definitely go up on December 2020 he got up to $40 in just 2 months in February 2022 BNB got up to $300.
Just like other cryptocurrency BNB experiences volatility in price but it has mostly been bullish just on me 2021 BNB got up to $600 and currently BNB is $400 still moving.
The mass adoption of BNB mirrors is price movement an increased adoption also help to rise the price BNB has really played a vital role on the binance ecosystem there are so many positive news on BNB, this can impact more value and lead to bullish sentiment the unique features of BNB also enhances scalability security which has a positive impact on BNB price movement.
Conclusion/ why BNB might have the biggest upside in the next bull run.
When it comes to prize movement BNB has done so well in the past from the time it was launched it's had a whooping increment of about 39,680% in just 2 years and it has been bullish because of its mass adoption.
Many developers are investing on BNB because of its unique features also BNB is the third largest cryptocurrency by market cap within over 362,000% of increment from when it was launched which was just 7 years ago.
BNB has all the factors is takes to be have the biggest upside in the next bull run.
Please crypto experts in the house tell me what you think?
Thank you
Posted Using InLeo Alpha
Posted Using InLeo Alpha
