The Binance team has been working hard to increase the use cases of BNB and recently launched the Binance Chain mainnet. The Binance Chain is a decentralized exchange (DEX) that allows for the trading of digital assets.
BNB has a lot of potential in 2020. The coin has shown a lot of resilience in 2019 and with the launch of Binance Chain, we could see even more growth.
What is Binance Coin and what does it do
Binance Coin is the native currency of the Binance Chain. It is used to pay fees on the Binance DEX and can also be used to pay for goods and services on the Binance ecosystem.
BNB was originally created as an ERC20 token on the Ethereum blockchain but has since migrated to its own blockchain.
Why is Binance Coin a good investment in 2020
There are a few reasons why Binance Coin is a good investment in 2020. Firstly, as the native currency of the Binance Chain, it will be used to pay fees on the Binance DEX. This should increase demand for the coin and help drive up its price.
Secondly, Binance has been working hard to increase the use cases of BNB. Recently, they launched the Binance Card which allows users to spend their BNB balance anywhere that Visa is accepted. This should help increase the demand for BNB. Finally, Binance is one of the most trusted and well-known cryptocurrency exchanges in the world. This gives BNB a lot of credibility and should help to increase its price in 2020.
How high can Binance Coin go in 2020
There is no definitive answer to this question. However, given the potential use cases for BNB and the trust that investors have in the Binance exchange, it is possible that Binance Coin could reach new all-time highs in 2020.
Investors should be aware that there is always risk involved in investing in cryptocurrency and the price of BNB could go down as well as up. However, if you believe that Binance Coin has potential, then it could be a good investment for 2020.
binance coin price prediction 2021
This is impossible to predict, as the price of Binance Coin will be influenced by a variety of factors including the development of the Binance Chain, global economic conditions, and overall demand for cryptocurrency. However, Binance Coin price started in 2021 at $37.33. Today, Binance Coin traded at $528.37, so the price increased by 1315% from the beginning of the year. The forecasted Binance Coin price at the end of 2021 is $602 and the year to year change +1513%.
Investors should remember that there is always risk involved in investing in cryptocurrency and the price of BNB could go down as well as up. They should do their own research before investing and only invest what they are willing to lose.
Comparison to other cryptocurrencies
Bitcoin is the most well-known cryptocurrency and has the largest market cap. Ethereum is the second largest cryptocurrency by market cap and is considered to be the most important platform for decentralized applications. Litecoin is a fork of Bitcoin and is often seen as a silver to Bitcoin’s gold.
Binance Coin is much smaller than these other cryptocurrencies but has a lot of potential. It is the native currency of the Binance Chain which is a decentralized exchange. This could increase demand for the coin and help to drive up its price.