This inspires confidence in the platform and its future developments.īesides that, Binance coins enjoy a growing demand due to three key reasons: users’ desire to benefit from the available discounts on trading fees, speculation and quarterly coin burns. By taking the exchange from zero to one of the world’s top trading platforms, the team behind Binance have demonstrated they have what it takes to execute on their plans and put up a solid fight against established competitors.
How do we arrive at this conclusion? It’s easy to get an insight into Binance exchange’s standing in the market simply from looking at its trading volumes and historical growth rate. That’s due to the fact that BNB’s value is closely correlated with that of the exchange itself. While other cryptocurrencies are either in the development phase or going through vigorous trials, the Binance coin is one of the few crypto tokens on the market that is rather easy to appraise. Binance Coin is expected to eventually become the native coin of the decentralized Binance exchange. BNB was used to fund the exchange’s ICO and now serves as a utility token that offers holders a range of useful features, such as discounts on trading fees on the platform and the possibility to trade it for other coins on Binance Exchange.
Binance coin (BNB) is a native ERC20 token of the Binance Exchange, a leading trading and exchange platform exclusively for cryptocurrencies.