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Here's Why Binance Coin (BNB) Could Be A Top Three Coin Within Three Years - Global Coin Report
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Here’s Why Binance Coin (BNB) Could Be A Top Three Coin Within Three Years

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An exchange issuing its own cryptocurrency seems a little bit strange at first glance. Binance has done just that, however, and over the last month or so the coin has caught fire. At the time of writing (early morning ET), Binance Coin (BNB) goes for $8.33, having traded as low as $0.70 a piece back at the start of the final quarter of this year.

From the start of the quarter lows to highs recorded last week just shy of $11 a piece, this one gained closed to 1500%.

BNB Daily Chart

BNB Daily Chart

Sometimes, the logic behind a long-term thesis on these sorts of young, relatively low market cap cryptocurrencies can be a bit murky. They are reliant on companies developing technologies that are experimental at best and, beyond that, the technologies finding (and successfully growing into) its target marketplace.

None of this is true of Binance Coin.

This is one of the clearest and simplest long-term strength arguments we’ve seen in the sector to date and – as such – we don’t expect this one to hang around at current levels, even given the gains outlined above, for long.

How can we be so confident?

Well, Binance (as many reading will already be aware) is one of the most popular cryptocurrency exchanges in the world. As of today, it’s got more than 3 million registered users and it’s built a reputation for being one of the most secure, reputable and user-centric exchanges on the market. To put this another way, if there’s an exchange out there right now that we would expect to be one of the, if not the, fastest growing exchange over the next five years, it’s Binance.

And where does Binace Coin come in to all this?

The coin was issued earlier this year for one (primary) purpose – to allow Binance users to pay fees in a native cryptocurrency, as opposed to using something like BTC or fiat. And why would users want to pay in BNB as opposed to BTC? Because Binance offers a discount (and a steep one, at that) for any user that covers their trading and platform fees with its native coin.

Specifically, when a user pays fees in BNB, they receive a 50% discount on fees for the first year of fee payment. This then reduces to a 25%, a 125.5% and a 6.75% discount for the second, third and fourth years respectively.

And here are the economics of our prediction:

  • Assumption one: as Binance increases in popularity, more and more users are going to want to pay fees in BNB so as to reduce the costs associated with their trading.
  • Assumption two: in order to pay fees in BNB, users have to buy BNB.
  • Assumption three: an increased demand for BNB that arises on the back of Assumption one and Assumption two, as outlined above, will push up the price of the token.

It’s really that simple.

Combine this with the fact that the company is buying back tokens and burning them every quarter and we get a reducing supply input to turbocharge the above-discussed set of assumptions.

The company also has plans to build a decentralized version of its current platform, as part of which BNB will be used as one of the key base assets as well as gas to be spent.

So, really, the only way that this coin isn’t going to increase in value is if Binance goes under. This is cryptocurrency, so that’s not a risk we can take lightly, but as far as risk reward profiles go in this sector right now, that which Binance Coin (BNB) offers is one of the most solid we’ve seen.

We will be updating our subscribers as soon as we know more. For the latest on BNB, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


Image courtesy of Binance

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Binance Coin (BNB) Stops Following Bitcoin (BTC) — But is it Permanent?

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Binance Coin (BNB) is currently one of the most interesting coins in the vast crypto market. However, the thing that makes it interesting is seemingly unique to BNB at this time, which is the fact that it managed to decouple itself from Bitcoin (BTC).

As many are likely aware of, Bitcoin is the first and the largest cryptocurrency. It is also the most valuable one, in terms of its price. As such, Bitcoin has been dominating the market, as well as dictating the market’s behavior. Whenever Bitcoin’s price goes up or down, the rest of the market tends to follow, and each coin’s chart resembles that of BTC — not completely, but enough for everyone to notice.

Binance Coin, however, is the first coin to successfully say ‘no’ to this trend, and resist the largest cryptocurrency. Many have noticed this phenomenon and were wondering what had caused it. So far, the only explanation is a large number of use cases that BNB now has, thanks to various projects.

Binance Coin use cases

Binance Coin was created by the largest crypto exchange by trading volume, Binance. The exchange developed it to be a native coin in Binance ecosystem, and it is being used within the exchange itself. Many have started buying the coin, as using it within the exchange grants a significant discount on trading fees. The discount is…

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Why Bitcoin Price Remains Stable Before the Expected Hike

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The cryptocurrency rallied a few days back, but now, it has moved closer to 38.2% Fib level. Investors are enthusiastic that as it remains at this level for some time, and stabilize. The next move in Bitcoin price will take it to the 61.8% Fib level. This is when the hike in the price of the cryptocurrency will occur towards $4,200. However, after the surge in price, the upcoming weeks will see the Bitcoin falling swiftly to $3,000.

The truth is that if this move fails to occur, there may not be an improvement in the value of the digital currency. Also, this movement will enable the “bullish gartly pattern” we saw on the BTC/USD 4H chart to become a reality. Also, we are expecting that the Bitcoin price will decline the same way it has been recovering since early February.

Why this week’s closing price matters

Presently, Bitcoin price is still trading above what the intrinsic value is showing on larger time frames. However, we can see adequate room to accommodate short-term rallies. The price at which Bitcoin closes this week is very critical. It will be a clear indication as to how the digital currency will move in the coming weeks.

If Bitcoin closes at a price above $4,000, we are hopeful that the correction may come from early next week. On the other hand, any…

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Stanford Lecturer praises XRP over Bitcoin

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The world of cryptocurrencies continues to cause controversies even now, particularly when it comes to matters such as the superiority of one coin over others. According to recent reports, one student from Stanford University has stated that one of Stanford’s guest lecturers — Dr. Susan Athey — bashed the first and largest cryptocurrency, Bitcoin, while praising XRP.

Does guest lecturer go anti-Bitcoin?

In late February, Stanford’s student called Conner Brown came out publicly with a claim that Athey described Bitcoin’s network and protocol inaccurately, and that she also used the opportunity to make unfounded criticism. Athey, who also sits on Board of Directors at Ripple Labs — XRP’s parent company — supposedly also stated that XRP provides solutions to all issues mentioned in regards to Bitcoin.

According to Brown’s comments on the matter, the lecture in question took place over a month ago, and after attending it, he wrote an open letter to Standford, explaining the incident. In the letter, Brown claims that Athey inaccurately presented Bitcoin’s consensus protocol and overstated several issues, such as the threat of a 51% attack on the coins network, as well as Bitcoin’s mining centralization.

However, the main problem with the lecture, as Brown sees it, is the professor’s claims that XRP presents a solution to these problems.

The claims caused Dr. Athey to respond publicly via Twitter, stating…

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