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Binance Coin (BNB) Stops Following Bitcoin (BTC) — But is it Permanent? - Global Coin Report
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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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Top 4 Cryptocurrencies to Bet on in 2019

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The crypto winter ended and Bitcoin is breaking through the $5000 resistance barrier and leading a general charge in bullishness among cryptocurrencies has seen more positivity in the market than ever before. However, before any talk of a crypto spring should start, we need to look at what happened during the winter.

Many different platforms were either fully released or improved upon significantly. There has been a surge of innovation and the crystallization of ideas. The market isn’t just about crypto trading or bitcoin trading; it has become more about what businesses will leverage blockchain in the best way. Investors need to look at what a coin offers beyond just being a cryptocurrency. What partners does it have, what is the long term plan and is it liquid enough?

Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly. More and more tokens and coins are surviving and thriving on their own merits rather than riding in Bitcoin’s wake.

The four coins to follow are our pick for the top 4 cryptocurrencies most likely to give you substantial returns by the end of 2019.

Stellar Lumens (XLM): Cheap coin, and massive market to grow

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2019 Will Be a Big Year for Luxcore

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With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

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Can XRP Break Out of the Falling Wedge?

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XRP is the third largest cryptocurrency by market cap, which currently sits at around $13.5 billion. The coin also has a price of $0.325316 at the time of writing, after seeing a significant price correction of 4% in the last 24 hours.

Just like many other cryptocurrencies, XRP has seen massive losses during the 2018 bear market. However, this falling wedge seems to have seen a real breakout in 2019, as the crypto winter started to let go, and a lot of coins saw significant price recoveries.

XRP’s falling wedge was much more difficult to stop, which can be seen on its long-term chart. But, the recent bull runs allowed numerous cryptocurrencies to finally see growth, and XRP is definitely one of them. The charts also show that the coin’s falling wedge has seen a breakout, which is an excellent thing for the future of XRP’s price.

However, for the coin’s price to truly turn and stay bullish, XRP needs to see larger volumes. The experts believe that this is the key for a new rally, one which would allow XRP to reach true recovery.

XRP price performance and predictions

As mentioned, XRP had struggled to start growing even when most other cryptocurrencies were drawn in a number of bull runs. While the coin has been acting the same as others until mid-February, it is clear that the…

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