A toast to all of the BNB holders out there. Congrats on the used lambos.
BNB Market Sentiment
There are anxious investors watching Binance Coin, BNB, very closely right now. With the rest of the market slowly recovering, BNB has been pumping for months without stopping or significantly retracing. Let’s look at some of the reasons this asset is continually climbing, and why you may want to hedge into this prosperous asset.
Nothing should be considered at investment or financial advice. Enjoy the ride.
Binance Fully Available to Indians
This news is huge if you are a hodler of BNB or simply enjoy positive market growth. BNB has been gaining massive amounts of exposure recently, and it does not seem to be stopping. With this newest addition to the portfolio, BNB now has full access to almost 1.37 billion people.
India, in general, is currently very hostile towards to crypto market, but extremely bullish on blockchain development. The job market over there has been exploding with plenty of coders and young cypherpunks piling into the industry. In contrast to this, the federal level banks in India are constantly trying to restrict this market and cap its growth.
Binance Coin Volume
BNB is becoming quite the trading pair across other markets. It is only time before the asset becomes a top 5 coin simply from organic growth. Each exchange that adopts this coin will additionally gain more traders and exposure to their own exchanges simply from adding the coin to their platform. In a sense, it is a win win for everyone.
BNB Reaches All Time High
BNB has broken through all trends, indicators and RSI levels. It is currently in a league of its own, stopping for nothing except for one recent announcement. The announcement was centered around the removal of U.S. users coming up in September due to regulatory concerns. Even that massively bearish news, only made the asset shortly dip and bound back to an all time high.
Thus far in 2019, if you bought BNB at the bottom you would have an 8x return on your investment. For instance, if you invested $10,000 into BNB, you would have around $80,000 today in only a few months.
A big question right now is, can BNB continue to grow? For that answer let’s look at the current market cap of BNB. The market cap is currently hovering over $5 billion USD. This is very large for most digital assets, but comparatively to most companies or stocks around the world, this is not even a drop in the bucket. $5 billion is a small evaluation for a coin of this magnitude, and will most likely still provide 10x gains throughout the coming bull market without question.
Binance Coin Utility
We could easily map some of this growth to the growing utility of the asset. Specifically, most investors need to retain a minimum of 500 BNB in order to get the maximum lottery slots for upcoming Initial Exchange Offerings (IEOs). This has made investors quickly buy back any BNB they short, providing stable growth without substantial price deflation. Every IEO launched thus far on Binance has reaped profitable returns, making these a must for any risk friendly investors.