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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 set to drop by 10% yearly, starting at 50%. In other words, it will be gone after the fifth year since the coin’s launch runs up.

However, Binance found a way to keep the coin relevant through a number of other projects. The first and largest one was Binance Launchpad, which is a platform that helps new coins hold their token sales. While the ICO model is not very popular these days due to the fear of scams, buying securities, and alike — things are a bit different when the token sale is supported by a large and trusted entity such as Binance.

Further, Binance Launchpad only allows Binance users to participate in the token sale, and the new tokens can only be purchased in exchange for BNB. This has given the coin a massive new use case, and every single one of the three token sales held in 2019 (the Launchpad sells one coin per month) was met with a huge demand which had the token sales done within 15 minutes.

The demand for new, trusted coins caused BNB to surge by trading volume, price, and market cap in 2019. So much so, that BNB tripled its own price within less than two months. Not to mention that this was back when the crypto winter still had a reasonably strong influence over the market. While Bitcoin was losing value or struggling to maintain its price, at best, BNB was flourishing, and it still remains one of the best-performing coins in 2019.

In addition, Binance also recently launched Binance Jersey — a new, Europe-oriented subsidiary that offers BNB/fiat trading pairs, thus allowing people to buy cryptocurrencies in exchange for GBP and EUR.

Not only that, but Binance also announced its own blockchain, Binance Chain, as well as its own decentralized exchange, Binance DEX. While both are still in the making, Binance DEX beta was actually released recently, thus providing traders and investors with an opportunity to test it and provide their feedback. Once the chain and the DEX go live, Binance Coin will serve as their native coin as well.

Doing so will give the coin a permanent use case, and it will transform Binance from a simple, centralized exchange into a community which will be built around BNB. All of this will give BNB numerous new use cases, and the coin can only go further up from here.

Finally, Binance also holds quarterly token burns, often burning millions of BNB tokens, thus ensuring that the coin will not suffer from inflation and that its price will remain high. With all of the projects and events surrounding BNB, it is hardly surprising that it is the top performer, as well as one of the largest cryptocurrencies by market cap.

Is the separation from Bitcoin permanent?

Now, this is the real question. Bitcoin’s strength is massive, and not a single coin managed to fully decouple from it in the past. Many have tried, and even succeeded for a while, but they all came back under BTC’s fold, eventually. There were a few examples of this prior to the crypto winter, as well as during the bull run of 2017.

For now, it is difficult to tell, but if any coin will separate itself from BTC and start carving its own path — it is BNB. The coin holds tremendous potential, and it might reach a value that its own community never dared to imagine. While it is possible that BNB will eventually succumb to Bitcoin’s influence once again, for now, the coin seems to be holding its ground and resisting the allure of the largest crypto. If it manages to remain that way, the separation might be permanent, and the coin will be the first crypto ever to successfully pull it off.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

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