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Why Binance Coin (BNB) Will Skyrocket

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Binance Coin

The crypto space of 2019 is seeing a significant improvement in performance, coin prices, and investors’ behavior and feelings regarding the crypto market. Numerous coins have surged to heights not seen since mid-2018, nullifying the mid-November market crash in the process. However, with that being said, there are still periods of price corrections, one of which is affecting the prices right now, at the time of writing.

Even so, the performance of some coins is more interesting than that of others, particularly Binance Coin (BNB). The coin is seeing difficulties, but when we look at the bigger picture, Binance Coin is one of the cryptocurrencies with the most potential for further growth, and maybe even market domination.

Binance Coin’s current troubles

Binance Coin has been one of the best performers in the entire crypto industry of 2019. Considering the fact that there are over 2,200 cryptos out there — this is quite an achievement. It was made possible due to the fact that BNB decoupled from Bitcoin (BTC), meaning that it stopped following Bitcoin’s lead. This made it the only cryptocurrency right now to have done this successfully.

However, BNB is currently not performing so well, and for an obvious reason, too. The reason, of course, is the recent hack of Binance, the world’s largest crypto exchange, and the company behind BNB. The recent hack had seen 7,000 BTC stolen from one of Binance’s hot wallets, which is a minor amount for the exchange, but a massive one for investors that are expected to trust the exchange with their funds.

While Binance addressed and handled the situation quickly and professionally, the fact that even the largest and most trusted exchange can suffer an incident like this has left many concerns. As a direct result, BNB’s rapid advancement was slightly affected.

BNB will go to the moon anyway

With that in mind, many still believe that BNB will skyrocket before long, and they are likely right. The coin is one of the most promising cryptocurrencies in years, and it has massive use cases in the Binance ecosystem.

As many are undoubtedly aware, Binance has recently launched its own blockchain, its own DEX, as well as several crypto-to-fiat exchanges, one in Europe, known as Binance Jersey, and one in Asia, known as Binance Singapore. Many more are expected to arrive, but the point is that Binance’s ecosystem is growing at a rapid pace.

One thing that all of these projects have in common is BNB, which is the native, universal cryptocurrency of the entire ecosystem. As such, everyone who uses Binance’s exchanges or platform will have to go through BNB. Not to mention Binance Launchpad, a platform for holding token sales, which only gives trusted coins in exchange for BNB.

In addition, BNB brings major discounts to those who use it, and the coin’s performance is very promising. With all of these use cases, great progress, and the world’s largest exchange at its back — BNB is bound to head for the stars. Binance’s hacking incident did come as a concerning development, that much is true.

However, the exchange is one of the most capable entities in the crypto world, and will undoubtedly take every precaution that something like that never happens again. Not only that, but its Binance DEX, its decentralized exchange, removes such risks entirely, thanks to the fact that DEXes do not require traders to deposit their coins. In other words, Binance’s issues can be resolved, but the coin’s usefulness will not fade away. Instead, it is far more likely that BNB will be one of the biggest, most used, and most influential coins in the entire crypto industry.

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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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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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