The Binance Coin (BNB) went up by over 10% on Monday. Nevertheless, this was not enough to claim third place in the global crypto market. Because with Cardano there is a new, third most valuable crypto currency. But the Binance Coin can also look back on a positive performance in recent weeks. In the past seven days alone, the price rose by over 18%. If you look back two weeks, the performance is even 45%, in the last month over 65%. The Binance Coin has therefore been a real success for investors in the past.
Binance relies on regulation and identification
For many crypto investors, regulation hovers like a Damocles sword over the crypto market. Many fans of digital coins prefer an anonymous purchase – this has been the case since the first hour of cryptocurrencies. But the world’s largest trading platforms now see it differently. Now, as the industry leader, Binance has also decided to abolish anonymous registration. With immediate effect, anonymous accounts are no longer allowed to trade with the cryptos, new customers must immediately carry out an identity check. And existing customers must also prove their identity by October 19 in order to continue trading with Binance.
The triumph of the world’s largest crypto exchange
Binance is the world’s largest crypto exchange. Its own coin BNB has existed since 2017. At first, Binance was a pure crypto exchange. In the following years, the offer was continuously expanded and a Binance ecosystem was developed. As one of the leading and best-known companies, Binance benefits from numerous collaborations.
Should you buy the Binance Coin now?
The Binance Coin remains an exciting investment. Because the world’s largest trading platform for cryptocurrencies should also benefit itself with a further boom in digital coins. In the meantime, there are also far more possible uses for the BNB than the pure purchase of crypto currencies. The multifunctional coin BNB is also suitable for staking, launchpool and launchpad. With the large user base, BNB is an exciting investment if you want to participate in the success of one of the largest crypto trading platforms in the world.
Most recently, the Binance course was able to overcome various resistances and generate buy signals. Still, there is still a lot of room before BNB’s all-time high. If the positive momentum in the crypto market continues, BNB should also continue to perform strongly. Other coins seem to have even more potential. In a diversified crypto depot, however, the Binance Coin also has its place.
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