What's up with Binance Coin? - page 3.

goinmerry

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Quote from: Abiky on February 25, 2021, 05:08:20 PM

I'm wondering what could've lead Binance Coin towards new heights within such a short amount of time? Does the "De-Fi" hype have to do anything about this? Do you think BNB's current prices are sustainable or not? Your input will be greatly appreciated. Thanks.

It was rose to over $300+ and now experiencing a correction. Able to buy that coin for $50 but regardless of the price, my BNB was currently staked there, and never intend to sell it in the meantime as I doubt it will go back again to below $200.

The price increase hasn't to do with the Defi hype. There are lots of profitable activities to do just by staking BNB on their platform and that's what makes a demand. Since launch pool was always a success, it becomes a trendy method for others to earn. And the high gas fees on other chain makes it more reasonable for BNB to be used.

Kelvinid

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Quote from: Abiky on February 25, 2021, 05:08:20 PM

I'm wondering what could've lead Binance Coin towards new heights within such a short amount of time? Does the "De-Fi" hype have to do anything about this? Do you think BNB's current prices are sustainable or not? Your input will be greatly appreciated. Thanks.

Defi project have nothing to influence the growth of BNB, in fact, they have the rally before but BNB still calm. But for now, it all a big surprise. May the current spike is not sustainable but I could see that BNB will keep on third place next to ETH, XRP can't take it back anymore as long as the momentum keeps the same.

And one reason that could help the unbeatable growth of BNB is the launch of BSC. This has a huge impact and many projects use this.

https://bnbsmartchain.com/pnetwork-brings-non-fungible-tokens-on-the-binance-smart-chain/

Francis Freeman

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Quote from: Abiky on February 25, 2021, 05:08:20 PM

BNB rose all the way to the moon becoming the third-largest cryptocurrency by market cap. It's now valued at over $230 per coin, becoming one of the most valuable smart contract platforms in the world after Ethereum. While BNB doesn't come nowhere near close as Ethereum in terms of decentralization, and censorship-resistance, it works great for "De-Fi" with its ultra-low fees and blazing-fast transaction confirmation times.

I'm wondering what could've lead Binance Coin towards new heights within such a short amount of time? Does the "De-Fi" hype have to do anything about this? Do you think BNB's current prices are sustainable or not? Your input will be greatly appreciated. Thanks.

The rise of Defi ecosystem is probably one of the reason but the main reason I believe to be is the sustained growth of Binance ecosystem and Binance smart chain. You can see many prjects actually moving to BSC and the BNB burn is also helping.

shinratensei_

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Quote from: Abiky on February 25, 2021, 05:08:20 PM

I'm wondering what could've lead Binance Coin towards new heights within such a short amount of time? Does the "De-Fi" hype have to do anything about this? Do you think BNB's current prices are sustainable or not? Your input will be greatly appreciated. Thanks.

It doesn't, the crazy fees on ethereum could be the main reason that drives the price of BNB to touch a new ATH. There are some news that said some projects on ethereum like curve is starting to consider Binance as a place to migrate its protocol. This will bring the BNB chain the new users.
We know that if curve has a lot of supporters and it could be a disadvantage for ethereum. The fees are the only reason why people starting to adopt bitcoin.

palle11

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Quote from: Abiky on February 25, 2021, 05:08:20 PM

it works great for "De-Fi" with its ultra-low fees and blazing-fast transaction confirmation times.
D
I'm wondering what could've lead Binance Coin towards new heights within such a short amount of time? Does the "De-Fi" hype have to do anything about this? Do you think BNB's current prices are sustainable or not? Your input will be greatly appreciated. Thanks.

This is the most reason for the binance hype, the low fees. Etheruem transactions and bitcoin have been very difficult whilesome hang on the way with bitcoin. So if you have Alternative, it will be advise not to invest in a project that the team is isaac

TribalBob

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BNB prices can exceed ETH if ETH gas does not change, many projects switch to BSC, automatically thus BNB will experience large profits with increased prices,
Binance also offers STake, and farming for new tokens so that is also a factor in the increasing demand for BNB in the market

Renampun

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Quote from: Abiky on February 25, 2021, 05:08:20 PM

BNB rose all the way to the moon becoming the third-largest cryptocurrency by market cap. It's now valued at over $230 per coin, becoming one of the most valuable smart contract platforms in the world after Ethereum. While BNB doesn't come nowhere near close as Ethereum in terms of decentralization, and censorship-resistance, it works great for "De-Fi" with its ultra-low fees and blazing-fast transaction confirmation times.

I'm wondering what could've lead Binance Coin towards new heights within such a short amount of time? Does the "De-Fi" hype have to do anything about this? Do you think BNB's current prices are sustainable or not? Your input will be greatly appreciated. Thanks.

It's interesting because I saw Binance getting more interesting when eth gas fee went crazy...
it is impossible for the transaction to stop just because the gas transaction fee is very high, although it can be said that the Binance Smart Chain is a 'copy-paste' but very helpful Defi developer. the most annoying thing about eth is only the gas fee, if it is not resolved quickly, the more people move to the bsc and the price of binance coins is getting higher.

Abiky

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BNB rose all the way to the moon becoming the third-largest cryptocurrency by market cap. It's now valued at over $230 per coin, becoming one of the most valuable smart contract platforms in the world after Ethereum. While BNB doesn't come nowhere near close as Ethereum in terms of decentralization, and censorship-resistance, it works great for "De-Fi" with its ultra-low fees and blazing-fast transaction confirmation times.

I'm wondering what could've lead Binance Coin towards new heights within such a short amount of time? Does the "De-Fi" hype have to do anything about this? Do you think BNB's current prices are sustainable or not? Your input will be greatly appreciated. Thanks.

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