Is it worth investing in BNB in 2024?

Binance Coin (BNB) is the token of the largest cryptocurrency exchange Binance. BNB holders can get discounts of up to 25% on trading fees, participate in initial coin offerings, and earn passive income through staking. However, BNB remains volatile as its price depends on the success of Binance and the overall popularity of the crypto market.

In 2021, we witnessed an incredible rise — from $40 to $690 at its peak. But should we expect this success to repeat soon? I’ve conducted a thorough analysis, and here’s why I believe BNB is a good investment:

There are no serious competitors, and we won’t see any in the near future.
BNB is trading in an upward channel, as shown by coins like TWT.
Strong tokenomics: Binance burns part of the BNB supply quarterly, reducing the circulating amount.
New listings on Binance often provide additional opportunities for allocations.
There are many other positive factors. I recommend considering this opportunity.