The crypto market continues to be rather undecided, mostly influenced by the Bitcoin price stagnating between USD 9,950 and USD 8,700. This kind of situation for some is a good opportunity to open positions, Binance Coin (BNB) can be a project to be considered, getting closer to take the top 7 away from Litecoin.
Binance: How can we protect ourselves from inflation with cryptosystems?
Is Binance Coin ready to take the TOP 7?
BNB is currently positioned as one of the tokens with the best prospects for the medium and long term, earning its place among the 10 largest cryptosystems of the moment.
This token, native to the Binance chain and supported by the world’s largest exchange, Binance, is gaining ground as the firm behind it does. We all know who we’re talking about.
The Binance exchange is currently the leading exchange in the crypto ecosystem. It’s pretty clear where the success of the BNB token comes from.
In the 34th month of Binance, new highs were reached
On May 20 of this year, Binance celebrated its 34th month of life, and as always, they published a summary of their latest achievements through their blog.
During the 34th month, a new record level of BNB burning and daily transaction volume was reached.
These two specific points are closely linked to the evolution of the token itself.
In 1st place, with the burning of BNB, the development team behind it is ensuring that the currency maintains its value, and even increases, due to the reduction in supply, which linked to the 2nd point, indicating an increase in demand, develops the perfect environment for a revaluation.
At the 11th Binance Coin burn, 3,373,988 tokens were incinerated. At the time of the event, they were equivalent to USD 52.5 million, making it the largest BNB burn, both in fiduciary value and in quantity of currencies.
Being BNB the native token of the exchange Bitcoin Profit, users have several advantages when using it within the platform, mainly related to the costs per transaction. For this reason, the increase in the use of this cryptomone is directly anchored to the growth of the exchange.
Other highlights in the 34th month summary include the launch of Binance Pool and Binance’s leveraged tokens.