Binance exchange BNB token continues to amaze with steady growth. This growth wawsn’t broken even after the exchange hacking, perhaps undertaken by competitors.
How token becomes cryptocurrency
According to some analysts, a moderate reaction to scandals confirms the reasonable stability of cryptomarket. Indeed, if earlier the slightest negative could drop the market and coin quotes, now neither the Bitfinex and Tether scandal at $ 850 M, or the Binance hacking at $ 40 M did not have a significant impact on the market and the cryptocurrencies involved. And in the second case, with Binance, one person managed to extinguish emotions in a matter of hours. CEO Binance CZ (Changpeng Zhao) made a responsible statement, reassured the community, promising that none of the users would suffer. And the crisis has been eliminated.
That CZ activity BNB owes its growth. CZ becomes an example of responsible and rational behavior in cryptoworld. And the growth of his coin – a reward for this. The leaked information about plans to bring BNB to market leaders no longer seems ridiculous after the token was transferred to its own blockchain Binance Chain, and the centralized Binance exchange now is ready to transforme into a decentralized Binance exchange.
A significant increase in the capitalization of the BNB token is provided by launching IEOs on a Binance Launchpad. CZ led this trend and cherry-picked. The rest of the exchanges were in the position of catching up. That is – lagging behind. The proposed CZ scheme forces those wishing to participate in IEOs to use BNB and keep it in accounts. This gives a constant increase in prices.
Currently Harmony project is preparing to IEO. Coinstelegram paid attention to it a year ago and gave an overview and detailed analysis of the project. IEO is held in a lottery format – this is another ingenious invention of CZ in order to create the effect of fair participation of all users. Initially, the platform clearly could not provide fair possibilities for participation to everyone. Now too. But due to the lottery this crisis was eliminated too. In 4 days the period of requesting tickets for those who want to buy some Harmony (ONE) ends.
BNB will replace BTC?
Now BNB differs 32 times in capitalization from Bitcoin. But just recently, at the beginning of the year, this figure was 82.
Bitcoin Dominance currently has an uptrend. But it is possible that in the near future we will see its turnover. And BNB can play a significant role in this. Especially if the BNB status changes from token to cryptocurrency. And can be listed on other exchanges. Although it is difficult to imagine now. But see on your own eyes – its value in the total market capitalization is more than 1.7% and exceeds the value of many cryptocurrencies.