Binance coin allows you to invest in a top altcoin exchange with a bright future. This coin (BNB) essentially grows in value as Binance gets more and more volume. Which means that as crypto naturally continues to grow, Binance will continue to grow, meaning that BNB will continue to grow!
The chart shows a preliminary stage in this explosive growth. It's ridiculous how much this coin has grown (seriously, look at that chart). I would normally advise against going into a coin that has grown this explosively, but I do not see too much downside for top altcoin exchanges. In theory, all that is needed will be for more people to start trading. Only potential downside will be if people begin to leave the markets. ---------------------------------------------------------------------------------------------------------------------------------
This is a very long term hold for me. I will be holding as crypto continues to develop, and will only sell in the short term if the market goes under and people begin to leave the altcoin market. If you wish to play this short term, here are some short term ideas. Short-term, we are consolidating in this 145k-160k range.
Entry: 155k, would enter anywhere in the above range.
Next support: 125k Next resistance: 187k --------------------------------------------------------------------------------------------------------------------------------- In-depth Fundamentals: I've only charted Bittrex coins so far because, as of a few months ago, Bittrex was THE altcoin exchange. Although Binance has been around for quite some time, it only recently started to see volume on the level that Bittrex sees. This was due to the explosion in volume of people trading crypto, and Bittrex being unable to handle the server load. Many people flocked to Binance.
Binance continued to list promising new coins, and providing great service. Meanwhile Bittrex was becoming slower and more difficult to use, and would randomly remove coins from their exchange.
So, now that Binance is a top altcoin exchange, many of the newcomers to crypto will continue to pour into this exchange. So, if you believe in the future of crypto, and that people will continue to discover it, then you can safely assume BNB will continue to grow.
Ways Binance ensure the growth of their coin BNB: Trading fees at Binance can be paid with BNB at a big discount for the next 4 years (50% discount currently).
Every quarter, Binance will use 20% of their profit to purchase BNB coins, and burn them. This will go on until only 100 million coins remain (199 million coins currently). This means that eventually 99 million coins will get burned out of existence, which valuate the coin at a higher price.
They have plans to release a decentralized exchange where BNB will be heavily used.
評論
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Meant to show the zoomed out chart. Here, you can see the explosive growth I talked about above.
Hi could you approve my follow request at twitter ? my account is _kemalwest. Thanks.
ecoinamist
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@kemalwest,
Hey, I don't have any restrictions on my twitter followers. You should be able to follow me without any issue. I also haven't received any requests.
Are you sure you are following the right person?
Feel free to DM me
IvelinAngelov
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Finally a perfectly argumented trade idea in the Crypto section. I am fully bullish on this just got late home and bought in at 160k sats even if its a bit high in the short term i think it doesnt mather. This coin can easily 5x in future couple of months, not mentioning if binance stays a major exchanhe without a problems it can be in the top10 coins. Thanks for reminding me of this forgottten little jewel. Best wishes!
ecoinamist
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@IvelinAngelov,
You're quite welcome. I only wish I realized that I could chart binance coins earlier. Would've alerted everyone to this coin much earlier if so.