๐๐ข๐ง๐๐ง๐๐ ๐๐จ๐ข๐ง (๐๐๐) ๐ฌ๐๐ฐ ๐ ๐๐ข๐ง๐ฌ ๐จ๐ ๐จ๐ฏ๐๐ซ ๐๐,๐๐๐% ๐ข๐ง ๐๐๐๐, ๐๐จ๐ฆ๐ฉ๐๐ซ๐๐ ๐ญ๐จ ๐๐ข๐ญ๐๐จ๐ข๐ง ๐ฎ๐ฉ ๐ ๐ฆ๐จ๐๐๐ฌ๐ญ ๐๐%. ๐๐ก๐๐ญ ๐ข๐ฌ ๐๐๐, ๐ฐ๐ก๐ฒ ๐๐ข๐ ๐ข๐ญ ๐ฌ๐๐ ๐ฌ๐ฎ๐๐ก ๐ฌ๐ข๐ ๐ง๐ข๐๐ข๐๐๐ง๐ญ ๐ ๐๐ข๐ง๐ฌ ๐๐ง๐ ๐ฐ๐ก๐๐ญ ๐๐จ ๐ฐ๐ ๐ฉ๐ซ๐๐๐ข๐๐ญ ๐๐ข๐ง๐๐ง๐๐ ๐๐จ๐ข๐งโ๐ฌ ๐ฉ๐ซ๐ข๐๐ ๐ญ๐จ ๐๐ ๐ข๐ง ๐๐๐๐?
BNB is the native token of Binance Exchange, the worldโs largest exchange by daily volume that was co-founded by Changpeng Zhao in 2017. Binance has an estimated 30 million users, with its peak daily volume touching $76 billion in 2021.
Within Binanceโs ecosystem is Binance Smart Chain (BSC), a blockchain that runs smart contract-based applications. 2021 was a big year for BSC, thanks in part to Ethereumโs slow speeds and high fees seeing many users move over to BSC. Beyond that was the success of new projects based on Pancakeswap, that were alone responsible for more transactions on BSC than the Ethereum network achieved in total throughout the whole year.
Projects like Radio Caca (RACA) and EverGrow crypto (EGC) were amongst the most purchased on Pancakeswap in 2021. As an example, EverGrow, which was launched just 3 months ago, has already accumulated 120,000 holders, and has been responsible for 1.3 million transfers on the Binance Smart Chain. This new project, which still sits at a very modest $400 million market cap, can be purchased by swapping either BNB or BUSD (Binanceโs USD pegged currency) for EGC on Pancakeswap. In addition, the project has paid over $30 million of BUSD rewards to their holders since launch.
Such use cases add more and more value to Binance Coin itself, particularly when you consider than many analysts see EverGrow as the potential next 100x for 2022. Should these predictions pan out, EverGrow alone could be responsible for billions of dollars of BNB demand in 2022.
๐๐ก๐๐ญ ๐๐ซ๐ ๐ญ๐ก๐ ๐ฉ๐ซ๐ข๐๐ ๐ฉ๐ซ๐๐๐ข๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐จ๐ซ ๐๐ข๐ง๐๐ง๐๐ ๐๐จ๐ข๐ง ๐ข๐ง ๐๐๐๐ โ ๐๐จ ๐ฐ๐ ๐๐ฑ๐ฉ๐๐๐ญ ๐ญ๐จ ๐ฌ๐๐ ๐๐๐ ๐ฆ๐๐ค๐ ๐ง๐๐ฐ ๐ก๐ข๐ ๐ก๐ฌ?
With BNB currently sitting around $450 we see potential for $997 by the end of 2022, which would be a 110% increase. Several other coin prediction websites had similar price targets ranging from $850 to well over $1000. The overall sentiment is a bullish one and we expect to see a lot from BNB, and indeed Binance itself in 2022.
๐๐ก๐ ๐ฅ๐๐ญ๐๐ฌ๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐ง ๐๐ข๐ง๐๐ง๐๐ ๐๐จ๐ข๐ง ๐๐๐ ๐ฉ๐ซ๐ข๐๐ ๐๐ฎ๐ญ๐ฎ๐ซ๐ ๐ข๐ง ๐๐๐๐:
The S&P 500 is trading near its all-time high, but Binance coin BNB has plunged about 16% over the last 30 days due to a sudden decline in bitcoin prices. Even after the drop, the BNB price is 1000% up over the previous 354 days. Launched only a year ago, Binance, the worldโs biggest crypto exchange, the Binance Smart Chain is compatible with the Ethereum Virtual Machine. Binance recently made a major announcement related to Binance Coin BNB, which includes implementing a new Auto-Burn protocol to replace its current quarterly burn mechanisms.
๐๐ง ๐๐๐๐, Pancakeswap, a decentralized crypto swap exchange, was responsible for more BSC transactions than the entire Ethereum network. Some of the most purchased tokens on Pancakeswap V2 swap in 2021 include EverGrow (EGC) and Radio Caca (RACA). New tokens like Evergrow are solely responsible for generating hundreds of thousands of transactions daily for the Binance chain. EverGrow is the first hyper-deflationary token that rewards its holders in BUSD that is generated from every buy/sell/transfer transaction in EGC tokens. EverGrow contracts distribute 8% of every transaction among its holders. Evergrow recently announced that in just 12 weeks, they have added 118K+ wallets as holders on the Binance chain and distributed more than $30 Million BUSD in rewards. It ultimately means its contract executes thousands of transactions every day to send rewards to its holder.
Although Binance chain transaction fee is much lower compared to the Ethereum chain, it still means millions of dollars worth BNB being locked on Pancakeswap liquidity pools and paid in gas fees. Reward-based tokens like Evergrow are being considered the future of dividend-paying stocks or staking pools because the rewards to be distributed among holders are generated from daily trading volume instead of inflating the circulating supply by minting new tokens every day.
Crypto has gained more than 189,00% since its launch. The success story of EGC has inspired hundreds of new BEP20 tokens to launch on the Binance chain and contributed millions of dollars in daily trading volume. EverGrow is a relatively new currency, but its future looks bright as the currency is yet to launch its utilities, including play-to-earn games, NFT lending platform and Buy/Sell marketplace, content subscription platforms, etc. If these early-stage projects continue the initial success, then Binance coin BNB and BSC might soon overtake the Ethereum chain in total transactions executing daily on its blockchain. Currently, each block on the Binance chain is confirmed in approximately 3 seconds.
In the past 24 Hours, more than 7M transactions were executed on the Binance chain. The short terms prediction for BNB looks bullish. According to technical indicators, the 20-day EMA for BNB is flat, and the RSI is just above the midpoint, suggesting a status of equilibrium between the bulls and the bears. Binance coin BNB price could first rally to $570-$575 and then rise to $620. There is strong technical support for BNB at $500. If the price breaks above $575, BNB could first rally to $617 and then to the overhead resistance zone at $668.40 to $690.50, which will mean that the correction may be over for the significant gains BNB price made this year.
- ๐๐โ๐ ๐ถ๐บ๐ฝ๐ผ๐ฟ๐๐ฎ๐ป๐ to keep in mind that cryptocurrency markets are extremely volatile, making it difficult to accurately predict what a coinโs price will be in a few hours or a few days and even harder to give long-term estimates. As such, analysts and online forecasting sites can get their predictions wrong. We recommend that you always do your own research and consider the latest market trends, news, technical and fundamental analysis , and expert opinion before making any investment decisions. Be patient and look long term wisely and never invest more than you can afford to lose.
Trading & Investing both are the master of RISK.
Please comment, like and follow if it was helpful for you.
Thank you for your time.
Have a profitable day.
| Review and analysis by Samadi.Finance |
BNB is the native token of Binance Exchange, the worldโs largest exchange by daily volume that was co-founded by Changpeng Zhao in 2017. Binance has an estimated 30 million users, with its peak daily volume touching $76 billion in 2021.
Within Binanceโs ecosystem is Binance Smart Chain (BSC), a blockchain that runs smart contract-based applications. 2021 was a big year for BSC, thanks in part to Ethereumโs slow speeds and high fees seeing many users move over to BSC. Beyond that was the success of new projects based on Pancakeswap, that were alone responsible for more transactions on BSC than the Ethereum network achieved in total throughout the whole year.
Projects like Radio Caca (RACA) and EverGrow crypto (EGC) were amongst the most purchased on Pancakeswap in 2021. As an example, EverGrow, which was launched just 3 months ago, has already accumulated 120,000 holders, and has been responsible for 1.3 million transfers on the Binance Smart Chain. This new project, which still sits at a very modest $400 million market cap, can be purchased by swapping either BNB or BUSD (Binanceโs USD pegged currency) for EGC on Pancakeswap. In addition, the project has paid over $30 million of BUSD rewards to their holders since launch.
Such use cases add more and more value to Binance Coin itself, particularly when you consider than many analysts see EverGrow as the potential next 100x for 2022. Should these predictions pan out, EverGrow alone could be responsible for billions of dollars of BNB demand in 2022.
๐๐ก๐๐ญ ๐๐ซ๐ ๐ญ๐ก๐ ๐ฉ๐ซ๐ข๐๐ ๐ฉ๐ซ๐๐๐ข๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐จ๐ซ ๐๐ข๐ง๐๐ง๐๐ ๐๐จ๐ข๐ง ๐ข๐ง ๐๐๐๐ โ ๐๐จ ๐ฐ๐ ๐๐ฑ๐ฉ๐๐๐ญ ๐ญ๐จ ๐ฌ๐๐ ๐๐๐ ๐ฆ๐๐ค๐ ๐ง๐๐ฐ ๐ก๐ข๐ ๐ก๐ฌ?
With BNB currently sitting around $450 we see potential for $997 by the end of 2022, which would be a 110% increase. Several other coin prediction websites had similar price targets ranging from $850 to well over $1000. The overall sentiment is a bullish one and we expect to see a lot from BNB, and indeed Binance itself in 2022.
๐๐ก๐ ๐ฅ๐๐ญ๐๐ฌ๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐ง ๐๐ข๐ง๐๐ง๐๐ ๐๐จ๐ข๐ง ๐๐๐ ๐ฉ๐ซ๐ข๐๐ ๐๐ฎ๐ญ๐ฎ๐ซ๐ ๐ข๐ง ๐๐๐๐:
The S&P 500 is trading near its all-time high, but Binance coin BNB has plunged about 16% over the last 30 days due to a sudden decline in bitcoin prices. Even after the drop, the BNB price is 1000% up over the previous 354 days. Launched only a year ago, Binance, the worldโs biggest crypto exchange, the Binance Smart Chain is compatible with the Ethereum Virtual Machine. Binance recently made a major announcement related to Binance Coin BNB, which includes implementing a new Auto-Burn protocol to replace its current quarterly burn mechanisms.
๐๐ง ๐๐๐๐, Pancakeswap, a decentralized crypto swap exchange, was responsible for more BSC transactions than the entire Ethereum network. Some of the most purchased tokens on Pancakeswap V2 swap in 2021 include EverGrow (EGC) and Radio Caca (RACA). New tokens like Evergrow are solely responsible for generating hundreds of thousands of transactions daily for the Binance chain. EverGrow is the first hyper-deflationary token that rewards its holders in BUSD that is generated from every buy/sell/transfer transaction in EGC tokens. EverGrow contracts distribute 8% of every transaction among its holders. Evergrow recently announced that in just 12 weeks, they have added 118K+ wallets as holders on the Binance chain and distributed more than $30 Million BUSD in rewards. It ultimately means its contract executes thousands of transactions every day to send rewards to its holder.
Although Binance chain transaction fee is much lower compared to the Ethereum chain, it still means millions of dollars worth BNB being locked on Pancakeswap liquidity pools and paid in gas fees. Reward-based tokens like Evergrow are being considered the future of dividend-paying stocks or staking pools because the rewards to be distributed among holders are generated from daily trading volume instead of inflating the circulating supply by minting new tokens every day.
Crypto has gained more than 189,00% since its launch. The success story of EGC has inspired hundreds of new BEP20 tokens to launch on the Binance chain and contributed millions of dollars in daily trading volume. EverGrow is a relatively new currency, but its future looks bright as the currency is yet to launch its utilities, including play-to-earn games, NFT lending platform and Buy/Sell marketplace, content subscription platforms, etc. If these early-stage projects continue the initial success, then Binance coin BNB and BSC might soon overtake the Ethereum chain in total transactions executing daily on its blockchain. Currently, each block on the Binance chain is confirmed in approximately 3 seconds.
In the past 24 Hours, more than 7M transactions were executed on the Binance chain. The short terms prediction for BNB looks bullish. According to technical indicators, the 20-day EMA for BNB is flat, and the RSI is just above the midpoint, suggesting a status of equilibrium between the bulls and the bears. Binance coin BNB price could first rally to $570-$575 and then rise to $620. There is strong technical support for BNB at $500. If the price breaks above $575, BNB could first rally to $617 and then to the overhead resistance zone at $668.40 to $690.50, which will mean that the correction may be over for the significant gains BNB price made this year.
- ๐๐โ๐ ๐ถ๐บ๐ฝ๐ผ๐ฟ๐๐ฎ๐ป๐ to keep in mind that cryptocurrency markets are extremely volatile, making it difficult to accurately predict what a coinโs price will be in a few hours or a few days and even harder to give long-term estimates. As such, analysts and online forecasting sites can get their predictions wrong. We recommend that you always do your own research and consider the latest market trends, news, technical and fundamental analysis , and expert opinion before making any investment decisions. Be patient and look long term wisely and never invest more than you can afford to lose.
Trading & Investing both are the master of RISK.
Please comment, like and follow if it was helpful for you.
Thank you for your time.
Have a profitable day.
| Review and analysis by Samadi.Finance |
Trade active
Market Rank: 4
BNB Price: $448.44
Price Change 24h: $-22.48/-4.77%
24h Low / 24h High: $439.26/$481.06
90d Low / 90d High: $392.57/$669.35
Trading Volume 24h: $4,639,434,334.77/-3.47%
Volume / Market Cap: 0.06202
Market Dominance: 3.78%
Market Cap: $74,799,724,637.64/-4.77%
Fully Diluted Market Cap: $74,799,724,637.64/-4.77%
Yesterday's Change: -0.38%
Yesterday's Volume: $4,400,228,626.73
Circulating Supply: 166,801,148 BNB
Max Supply: 166,801,148 BNB