Binance Coin is already catches-up Bitcoin Cash (BCH), being in 7th place by capitalization. But ambitions of the CEO of Binance CZ extend much further. Will BNB a new bitcoin?
The Chinese work only for themselves
In business, the envious statement is well known: “The Chinese only work for themselves!” Perhaps, following this rule, Changpeng Zhao, CZ, took the fate of his token into his own hands. And it seems he is doing well.
While the Corn drops under $ 4K, the BNB rushing and rushing forward. Since December, the currency rose by 145%. And this is not some unpredictable volatility. CZ literally grows his own coin beginning since the ICO, which took place on the exchange from July 1 to July 21, 2017. The price for ICO was $ 0.1. $ 15 M was collected. Token emission was 200 M. And it was strictly stated: “A strict limit of 200M BNB will be created, never to be increased. BNB will run natively on the Ethereum blockchain with ERC20″. Hype immediately rose. Besides, the coin had no problems with listing, of course. Today we have an impressive dynamic – 152x. And there were no drops. Well, except in the dark days of mid-December 2018, when the Cornl fell to $ 3200. BNB then dropped to $ 4.52.
To get rid of the volatility in crypto there are 2 ways. One – stablecoins. Americans believe in it. The Chinese believe in another one. Every quarter Binance buys BNB for 20% profit – for burning. The goal is to reduce the amount of BNB to 100 M. That’s the secret to stable growth. Today, a little more than 141 M BNB is in circulation. What will happen to it after the goal is achieved? Perhaps by that time the landscape of the crypto market will change dramatically.
Storm and stress
Another successful Chinese, Justin Sun, CEO of TRON, has already called BNB a “new Bitcoin”. The Chinese rarely throw words to the wind. The phenomenon of bitcoin itself has value. But time showed its weak points. And most importantly – problems with adaptation. CZ solved the problem simply. BNB is accepted as fee payment at the largest exchange, and according to a certain scheme. Last year – with a discount of 50%, this year – 25%. In the following – 12.5%. Do you know how to count? All those who are involved in crypto are able to count. So with the adaptation it is OK.
The second important component of crypto is ICO. Binance took a special decision too, due to its platform Binance Launchpad. Two ICOs were a resounding success, and this was despite the obvious technical unavailability of the platform. Both BitTorrent Token and Fetch.AI launched on the Binance Launchpad took off, although many investors were simply ignored. It is clear that success awaits the following ICO – Celer Network (CELR), on March 19. Accordingly, the price of BNB will rise again. CZ promises these tokensales monthly. It is clear that it will be necessary to buy new tokens for BNB.
Partnership and other buns
The successful partnership of Binance and Tron is already very striking. Justin Sun shills Binance at every opportunity. And there are surprisingly many such cases lately.
Binance stated some time ago about the launch of its decentralized clone – Binance DEX. Now testing is underway. It is clear that the owners of BNB tokens are allowed to it only. In general, if TRON and BNB merge in a fraternal embrace, then purely arithmetically the amount will immediately reach 4th place by capitalization ($ 2,146,287,215 BNB + $ 1,491,927,903 TRX = $ 3,638,215,118). But there are other buns.
CZ recently announced the launch of a new crypto-fiat platform in Argentina. As soon as the Ministry of Labor of Argentina announced that it will support crypto – 10 blockchain projects every year, 4 years in a row. Binance as prt of the program receives funding of $ 50 K. Trifle, but nice!
Since the beginning of the year, Binance has also launched the Binance Jersey platform on Jersey island with a strange jurisdiction, between Great Britain and Europe. It is clear that after brexit, this site has dazzling prospects.
To move the Corn from the throne is, of course, not an easy task. For this, BNB needs to grow 32 times! But let’s not forget that China has repeatedly surprised humanity in the 20th century, and already in the 21st. Suffice it to recall Jack Ma with his parting words to the first employees of the Alibaba Group in 1999: “You are no worse than those who work in Silicon Valley!”