Topic: What's up with Binance Coin? (Read 430 times)

The platform is developing every day, so I think that the price may reach $ 500 in the near future, this is not the highest price of a coin for such a large and diverse platform as Binance

I believe not only the deployment of their BSC network helped them achieve their price but also the actual performance of binance as an exchange. They have been at the top among these crypto-exchanges and they are keeping the position by offering other services like trust wallet, BSC launchpad, their binance visa card, derivatives, one-stop investment solution, pool, p2p and others. They evolve their services and they are not offering as trading platform only. Their financial options are quite doing well also as people are trusting this network because of their insurance in place. And now, their BSC launchpad is growing as it has been the alternative option for devs to develop their project.

$500 is too much I guess only for couple of weeks, reach new ATH like $350 is enough I guess, and $1000 for the end of the year, and it deserve to to stay in the top 3 on CMC.

Every single design related to bitcoin was to prevent centralization and satoshi never compromised scalability with decentralization. Even the 10 minute blocktime was to prevent the future forks and the 1 MB blocksize was retained to make the blockchain lesser as year progresses. Currently it's literally very cheap (less than $75) to buy a 2 TB hard disk and the blockchain size still remains just a little above 320 GB currently. The future coins like BnB or other centralized coins took this issue seriously and built a better centralized coin which can be manipulated no matter what. As like you, I prefer decentralization over compromising my scalability and I always would be like that.

I never care how higher the bitcoin fees grow, but I believe the ln and core devs will bring some vast improvements to prevent centralized coins like BnB going too much mainstream and controlling the crypto market. By the way what is your thought regarding PolkaDOT? Even though Vitalik was the mastermind, Gavin was the co-creator and helped Vitalik in greater extremes like creation of Solidity during the creation of Ethereum. Gavin with his web3 came up with this coin and no one really knows if DOT could outpace ETH in future. Though I ain't a bitcoin maximalist for some reasons but I think if someone tries to come with a second layer smart contract solution similar to how ETH and DOT functions on top of Bitcoin it would be a market changer and might be pumping bitcoin even higher.

Even today the bitcoin codebase has the highest number of open source developers while comparing Ethereum which stands at second and Monero at third. So there are possibilities that DOT could outperform or some developer could come up with executing a cheaper and more complex smart contract using a second layer solution. We need to wait for the future and check that out.

Binance coinnhas been the direct native token used within the binance ecosystem and of recent has kept the pace as representing what stands binance holds in the crypto industry. We can not over loook the impart of binance in the massive adoption of crypto and for all these I consider the price of binance token appreciation worth it

I see that Binance is seriously developing its chain and also network.
Recently, the CEO of Binance is also seriously promoting and also making certain news, updates, and also attracts to make Binance coins and platforms accepted more to the world, gain more users, and also make the certain good movement of the projects, it's burning, and others.
Moreover, it is also at the right time for the Binance coin nd platform to exist and develop because the Ethereu platform really offers very high fee transactions. While the Binance platform offers the lower one. It may also relate to DeFi Hye that is very booming this time.

It's been shown from time to time that people don't care about decentralization at all. As long as a cryptocurrency fills their pockets with money, nothing else matters. Sadly, greed has prevailed over decentralization these days. It's no wonder why Binance Chain went from being worth nothing to hundreds of dollars in a few months. The so-called blockchain network may be faster and cheaper to use than Ethereum, but its centralized design brings us back to the corrupt banking system crypto was meant to avoid in the first place. You'd either sacrifice decentralization for scalability/convenience/ease-of-use or vice versa. There's no "middle point" in this.

I'd prefer to stick with Ethereum than Binance Coin because it's the most decentralized smart contract platform on the market today. I'm sure the vast majority of traders and investors alike will do the same decision in the long run. Despite Binance Coin's latest success, it still hasn't been able to outpace Ethereum in terms of mainstream adoption. The world's second-largest cryptocurrency by market cap has the biggest ecosystem of dApps and tokens on the industry. It mimics Bitcoin in terms of security, reliability, and censorship-resistance. While ETH will become less decentralized with the new upgrade, it'll still be the leader of the smart contracts space as other projects will fare worse in the long run.

Some say that BNB's sudden rise is largely attributed to increased interest in PancakeSwap as a result of Uniswap's ever-increasing fees. That could change soon, with Uniswap V3. It is said that the new iteration of Uniswap will make use of off-chain scalability solutions in order to provide its users with low fees and near-instant transactions regardless of ETH's current network congestion. If the rumors are true, then both UNI and ETH will explode in price at a very fast pace. Ultimately, people will decide which coin to support depending on specific needs in daily life. Just my thoughts

BNB price deserve to grow more than $230 mate, even the price will hit $500 in the next couple of weeks
many project move from ethereum network to BSC, this could be the main reason why BNB price growing hard

Binance is increasingly becoming centralized and it seems to be emerging as "Apple" of the Crypto Market. CZ has bought coinmarketcap and the site has been shilling about BnB now and then. Not just this, they are evolving as global super power in crypto market and been dominating almost every country. In terms of US, coinbase has been extremely slow and would probably go down during insane sudden price pumps or dumps but this hasn't been the case of Binance as an exchange and they have been providing blazing fast transactions.

Now with the improvements in Binance Chain and their domination, dependency rate on BnB has increased over the months and this was well evidently seen as a sudden price hike. As you said in post #41 too much hype on Binance would make crypto market to shift towards adopting a centralized strategy but ETH on the other hand has been highly decentralized for a reason. But do you think ETH's uncapped supply make them more stable over the future while comparing to BnB's utterly limited supply? Though gas fees has been a concern over the years, I think sacrificing it for centralization should be a no go! When Binance was hacked back in 2019, CZ tried to reverse the bitcoin chain which was a highly frowned upon practice in a decentralized crypto economy but with Binance Chain, he has been trying to launch so many projects into it.

I firmly think this is a path of centralization and CZ is trying to control the economy on the whole. With people in crypto are driven towards profits, BnBs rising numbers will always put a smile on their face even how bad the centralization is happening over

BNB is backed by a real value of a large exchange: the ability to pay fees with it. Alongside, there is a large development progress that dwarfs many other chains. For example, Ripple or other private chains which have been much longer on the market and have done little to actually create value for owners.

Low fees and fast transaction confirmation times may seem to be a benefit to many projects in the crypto/Blockchain space. But the truth is, that most smart contract platforms aren't as decentralized as they claim to be. Binance Smart Chain may be superior than ETH from a technical standpoint, but it's utterly centralized. Eventually, people will face the consequences of centralization when Binance makes a decision that would affect the whole blockchain network. Most don't care about this, as long as they're able to fill their pockets with money. I believe that BNB will only go higher in price as long as the "De-Fi" hype persists in the mainstream world.

At least, ETH is on a path to reduce fees once and for all. The ETH 2.0 upgrade will make things more interesting for the project itself. What I admire about Ethereum is its decentralization. Other competing smart contract platforms fall short when it comes to providing security, reliability, and censorship-resistance. ETH is like BTC in this regard. It's truly decentralized, unrivaled, and widely adopted in the mainstream world. Binance Coin is only good as a short term investment, as it's prone to the risks of a single point of failure. Once Binance ceases operations or becomes hacked, you can kiss goodbye to Binance Smart Chain. Only ETH will be able to last forever thanks to its decentralized and censorship-resistant design.



Yes. Binance Smart Chain has a lot of benefits that are hard to ignore in the crypto/Blockchain space. Yet, it's not a perfect solution for smart contracts. As I've said before, BSC is utterly centralized subject to the risks of a single point of failure. The project sacrifices decentralization for scalability/convenience/ease of use. The public doesn't care about decentralization, as most people conduct their trades via centralized exchanges nowadays. They only think about making money as fast as possible, without considering the risks of investing into a centralized project. It was always about decentralization/censorship-resistance in order to make crypto land a better place. Scaling to new heights will only reduce the cryptocurrency's level of decentralization in the long run.

As far as BNB is concerned, I believe it'll go higher in price within the short term. Once the hype ends, BNB could go back to the way it was. ETH is, and will always be, the "King of Smart Contracts" no matter what. Some projects are already realizing that their efforts to overcome Ethereum are in vain. They should focus on making crypto land a better place by working together with other projects in the industry. Interoperability is the way of the future for Blockchain to thrive in the mainstream world. It's not about Binance Smart Chain, or Cardano, or Polkadot, or Ethereum. But rather every single project working together to make crypto/Blockchain tech widely adopted by anyone, anywhere in the world. Once that's achieved, we'll be able to achieve true decentralization. Who knows what the future will bring as the industry grows towards new heights? Just my thoughts

Ethereum's high transaction fee are the reason most users are associated with the BNB price hike. I might agree for that reason but I believe it is temporary because if transaction fee drop then we'll see how people start switching to ethereum again. I also don't think that BNB will overtake ethereum's current ranking as a high market cap altcoin. BNB are close rivals to ethereum, but that doesn't mean they will easily make ethereum abandoned by the community.

Ethereum's transaction fee are currently above 130 GWEI as standard fee, this would still lead many people to think that BNB has enough potential to trade above $230.But at the moment it is very doubtful considering the bitcoin price is still trading at $47K.

The recent price movement of BNB was so surprising, because it was flying as if it will never come down again, currently now there is a retrace in price, BNB is below $250 and I don't think it will fall below $200 because due to the insane rise in ethereum gas fees people are now diverting from using eth network because it's too expensive rather there prefer using BSC network because it's transactions fee is low and affordable. I think this is one of the reason the price of BNB is going high and for sure it will retain its price and even move higher thereby hitting new ATH.

BNB has a big support from Binance and Binance users. Regarding to scalability, Bitcoin Cash and Ver team tried to convince people that they are real bitcoin and can bring good things for bitcoiners. 4 years from 2017 to 2021, Bitcoin Cash is still a shit altcoin and they can not replace bitcoin.

I think that BNB will face the same challenge. They can be more easily to upgrade their protocol and some technical factors but thinking of taking over Ethereum would be unrealistic. I don't have Binance but I am not wishing to see too much power in hands of Binance.

Sustainability depends on the project and not BNB itself, the reality is that there are a lot of problems and a lot of issues going around the crypto world and BNB fixed that with BSC and it is quite cheap, while ETH wanted 100+ bucks for a swap, BSC wanted 1 dollars and that means we are in a situation where the world would know that we are not doing that bad, and it is the greatest reason why BNB increased, and that is exactly why I feel like we should not be worried if BNB goes down or not, because as long as they are the best choice, they are going to be good as well.

I believe this pancakeswap thing will keep going higher and higher and we are going to make more profit from it, look at beefy and vaults of projects and how they are tied to pancakeswap and how they do LP as well there, so you will realize all those people making a profit will not leave BNB anytime soon.

Decentralized Exchange over Centralized Project which created by Centralized Exchange. Sounds ironic, isnt it? Or just me whom think like that...

time flies fast isnt it because we havent noticed that bnb are now in the 3rd rank but before bnb was hardly seen in the ranks and its price were also low back then but i have no comment if the rise of bnb has to do something with defi because i think that defi are different kind but to the question if bnb can sustain its state now id say yes and im expecting that there are more increases that can happen to this coin later in game because bnb already built a strong foundation .

I think so, this bnb coin is sustainable for the future of our asset. Right now I just started to figure out some good plans on my future in cryptocurrency. What's happening of its price recently is the results of increase in demand, and by the time binance adoption would soon arise! Holders will earn more than being sustainable.

Of course, now BNB has a competitive advantage over ETH, and can take the lead among networks with a smart contract, recently 1inch switched to the BSC network due to expensive transactions in the ETH network, so we are waiting for news from other dex exchanges.

the binance blockchain I think will become more popular when the ethereum network has the problem. the binance chain is also not linked with many projects. not easy I think to be able to switch to binance chain from ethereum. I think Binance wants to keep the market and their community populated by projects that have real benefits and development.

Binance chain may be the future of coin transactions due to ethereum high gas fees and longer transaction time, binance coin have done great in terms of market capitalizations and trading volume. I believe in no time from now most defi project will migrate to binance chain because it solve all the challenge we face in the ethereum network now.

it should not be related to the listing or something related to it. People are looking for the best chain to trade. BSC has almost the same feature as ethereum.
The majority of new projects didn't even list on binance and they wanna it caused by the community that supporting the binance ecosystem. These platforms were also avoiding the high fees on ethereum.

It brings good reflection to this coin, with so much offer investors start to realize the big future of this project.
With what we have seen BNB rises up and reach to the 3rd place bringing more interest not just for traders
but most with investors who are looking for passive profits. Hold this coin and take those previledges while
waiting for more price increase.

Well, price got to around $330+ and it's now on correction. I am cocksure it will spring back and surpass its initial ATH before the end of this first quarters. Also, remember that the surge in BNB price is due to the rush for the Binance Smart Contract as projects have started moving away from the ETH contract. It's going to get even better with time. I expect BNB price to even topple ETH in months to come.

Outrighly; i believe it is ssafe to say that the dominance of DeFi has contributed greatly to the increase in value of binance coin; what we should meanwhile not ignore is the dominance that has followed the binance smartchain through pancakeswap, julswap, bscex and even the sfp platform. This has caused other dominant platform to switch allegiance to bsc through cross chain thereby increasing value and demand for bnb coin.

Would the hype be sustainable? time will tell

IMHO, BSC made the revolution which helped the Binance coin to reach new heights from nowhere and it just happened at the perfect time when ethereum smart contracts stuck for long time due to ridiculous fee on ethereum network so people are searching for a better alternative and they landed at Binance smart chain.And also the reputation of Binance exchange is helping the increase further so it becomes unstoppable for a while.

This is the main reason, I believe! They are competitors of Ethereum for Defi apps, because of Ethereum's problem, which is scalability.
A lot of people also worried about Binance Smart Chain, there is some issue about being a centralized ecosystem and that's why the cost of transaction fee there is really cheap and some of the projects in Ethereum are copied and pasted to the Binance smart chain, which for me, it is already a red flag.
No hate here, I respect the pump  

Binance Coin has suddenly become popular and attracts many investors, it turns out that the Binance Smart Chain provides a solution that
the Ethereum platform can't provide. The high Ethereum gas fee is utilized by the Binance Smart Chain to attract Ethereum users to switch
to the Binance Smart Chain, which provides significantly lower transaction fees and extremely fast transaction speeds. This is what makes
the price of BNB soar and makes BNB the third best coin today. No wonder the demand for BNB continues to increase every day.

Binance is the biggest crypto exchange, making up 30% of the entire crypto industry volume. They regularly burn 2% of all BNB tokens every three months, which is very good for token velocity. They know how to do marketing. Their fan base is solid, and their CEO is a prominent and well-liked figure. All this helps the price of BNB increase.

One of the things that has brought binance coins so far is that there is a lot of interest from all coins wanting to enter the Binance exchange, because they are the number 1 largest exchange at the moment. everything will continue

Binance and Binance Smart Chain give people alternative options, chains to move their coins, tokens with lower, much lower, very cheap transaction fees. The contribution is used to shill Binance and BNB and people have more belief in the future of Binance, BNB. Price has risen a lot because of contributions, belief and manipulation.

DeFi hype can contribut indirectly. Binance list loads of DeFi tokens on their exchange and as classic rule for capital flow, people will move their capital from bitcoin to old altcoins, new altcoins and DeFi tokens. When they get big profit from DeFi tokens, they are more flexible to accept high price from other assets exclusively BNB.

Just a week before I saw how BNB move up to $196 and now continued to rise to $230. Not just that, its defi coins like cake also performed well. It's just amazing that BNB showed competitive movements and most likdly can be compared to eth when it comes to their smart contracr platforms.

After that defi partnership with Binance, those defi coins continued to rise as well as the bnb coin as it turned out that the partnership goes well with these rapid growth price increase.

The BNB pump is due to the timing of CZ shilling BNB during the DeFi bullrun and the growing popularity of BSC after the hackathon. It is just benefiting from the leverage of being Binance promoted otherwise there are a lot of other alternate chains. CZ has the funds to pay for crypto twitter shills and youtube influencers. The small investors who made money in DeFi run are jumping onto BSC too.

There shouldn't be any issue as long as you cash out your positions. It is all very new and people could easily lose fortunes if they are not careful with the pumps and dumps. Additionally, BSC is completely centralized so there is that. It is essentially going to be another cash cow for Binance as nobody cares if it is centralized. Like all Chinese businesses, CZ copied everything from ETH in terms of the look to ensure that people tired of high ETH fees embrace it.

The defi could be the side reason but there are some reasons why binance was growing so hard even when another did small increase.
1. Binance chain is having very small fees
2. There are lots of utility usage of binance coin
3. Binance was also regularly doing burn
4 You can earn so many advantage from the various platforms use BNB like cake and many more. That's why BNB was getting hyped due to the these reasons.

There is an exodus right now from Ethereum to the BSC platform which can certainly be helping the BNB coin to gain more leverage, and we know that the more users there are in BSC the more that they gonna be using BNB for any transaction...the same way that happened with Ethereum when DeFi exploded. The biggest reason for the shift is of course the incredible high gas fees in the Ethereum network. I think yesterday I saw the announcement of 1inch that they are also adopting BSC in addition to Ethereum within its own ecosystem. This is a big move and can be signalling others to adopt BSC though not necessarily wholly rejecting Ethereum.

Yes definitely defi triggers the bnb price too. But from what I remembered they are started to pump before their IEO launchpad of safepal. This is due to the changes of the IEO mechanics which changed from lottery to accumulation of bnb the many you hold the more chances to get the token on your allocation. Also this period start or marked the trending of BSC due to gas price of eth network. People transfer from those aching fees to bsc network due to those small fee on Binance.

I think it's just supply and demand. Ethereum can't provide what people want right now which is faster transaction and cheaper fees, Binance Smart Chain can do that. The fact that Binance is the largest exchange we have right now and that they actually made it easier for ETH projects to migrate to their chain means that they'll have people flocking to them in no time.

It's a smart move for Binance to provide these, especially the demand for cryptocurrency is at it's highest this year.

The answer is Binance Smart Chain.


Yes, it's a combination of factors and I would say that Defi is one of them. But as far as sustainability, it the current state of the market which is very bullish, I think it can still rose to even 4 digits. And I'm sure CZ will continue to tweet with his pet project and will totally focus on it in the next coming months.

Binance Smart Chain.

Yes, because of those projects that are choosing BSC over ETH (ERC20). It's more efficient for them and have lower fees and that made BNB put into a crazy ATH.

It is sustainable, it has once reached $300 and its current price seems stable and calm.

It is not impossible, I know there is a chance for BNB to overtake ETH. However, it needs a process and a long journey, I am not sure if it can happen in the near future. Not all projects want to switch to BSC directly, some may need time to monitor the trust of BSC. Or some still hopes and wait for the change on Ethereum's gas fees.

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.

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/

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.

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.

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

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

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.

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.