Shaf
Verified member
Like other cryptocurrency exchanges, both centralized and decentralized, Binance also has its own coin called BNB.
It's currently trading at $246, down from an a time high of about $400. It's also one of the coins that people believe will withstand the tests of this bear market, and price predictions for the next but run are as high as $5,000.
Apart from making profits by trading and holding it, BNB has other uses. It is used as a means if paying transaction fees for traders, and it's actually lower than paying with other coins. It is also used on the Binance Smart Chains, and holders can use it to participate in special token sales on Binance Launchpad. This is a common starting point for a lot of popular and promising projects like Matic.
BNB is also subject to a burn mechanism to refuse it's total supply to 100 million. This will lower the supply, and in turn, increase it's scarcity and price.
It's currently trading at $246, down from an a time high of about $400. It's also one of the coins that people believe will withstand the tests of this bear market, and price predictions for the next but run are as high as $5,000.
Apart from making profits by trading and holding it, BNB has other uses. It is used as a means if paying transaction fees for traders, and it's actually lower than paying with other coins. It is also used on the Binance Smart Chains, and holders can use it to participate in special token sales on Binance Launchpad. This is a common starting point for a lot of popular and promising projects like Matic.
BNB is also subject to a burn mechanism to refuse it's total supply to 100 million. This will lower the supply, and in turn, increase it's scarcity and price.
