Binance Coin Price Prediction: How High Will It Become in 2019?
By ChangeHero on ALTCOIN MAGAZINE
Today we can definitely say that Binance Exchange has become the flagship of the industry. They became the biggest crypto exchange in the world quite quickly and confidently. Along with that their inner coin called Binance Coin (BNB) is growing and gaining strength.
The most interesting part about it all is the forecast of the Binance Coin for the near future. What are the expectations for the coin in the next few months? What factors will determine the pricing? How to make an investment strategy?
ChangeHero got answers and ready to share them!
BNB is not only remarkable with it’s today’s position but with its whole path. Let’s dive into the background a bit.
The Binance token was based on Ethereum at first. It was created shortly after the launch of the Binance trading platform. Goals were set at the very beginning: to make users’ work as convenient as possible, with fast transactions, and high rewards in the affiliate program.
It’s a fairly common and widespread practice for exchanges to make their own crypto. For example, there were also Okex and Huobi, but none of these coins managed to repeat the Binance coin’s success. BNB was released 6 months later and overtook most of the leaders and entered the TOP-10 cryptocurrency rating. The great merit of this belongs to the founder of the project — Changpeng Zhao.
Today, Binance is a whole empire, which includes a venture capital fund, a charity company, research and education centers, and an ICO platform.
Binance pre-sale took the start in July 2017. 200 million coins were released. After the actual release, they started developing the plan of moving the coin from the Etherium base to their own blockchain platform. The process finalized in March 2019 — and that was the exact moment when BNB turned form Ethereum-dependable token into a coin of full value.
At the point of the start half of the amount was allocated to the community. Since then the project’s founders buy back some amount of the tokens from time to time. They take this step to take coins out of the circulation. This will last until half of the total number of coins remains on the market. The developers have come up with such a tricky move to maintain the liquidity of their coin — as supply decreases, demand increases.
There were also negative moments. In May 2019 BNB experienced a huge hack which resulted in a $40 million dollar loss among holders. But the company reacted quick enough and noble enough. They fixed the security issues and covered the lost funds with their own fund named SAFU (Secure Asset Fund for Users). As a result, the slipping stopped and the rate recovered and even grew within a month.
Coinmarketcap graph for May 2019
Since February 2019 BNB has been listed with IEO on different platforms. As an addition, Binance has just claimed to start of their futures market testing.
Binance coin team
BNB cryptocurrency has proven that it does not have a tight binding to Bitcoin and can grow even when the main cryptocurrency is dropping. Unlike most coins, this one held up well during the entire crisis of 2018 and the first months of 2019.
At the moment of publishing this article, the BNB rate is $32,02, the capitalization is $4.520.155.723. The daily trading volume is $227.123.882 USD. It’s the seventh position in the Coinmarketcap rating.
According to the CoinMarketCup graph, we can also clearly see the BNB price followed an uptrend for the last 2 years. The rate raised from 0.1$ up to 32$. It’s 320 times more.
People who predicted the intense growth of the Binance token at the beginning of 2019 were right. More experts on the web are still saying that the BNB token will show stable growth for the rest of the year. For example, crypto enthusiast and expert Tonny Mustache thinks that people underestimate this token which will gain billions of dollars of volume in the next five years. And the TRON founder Justin Sun called it a ‘new Bitcoin’.
Of course, it is an exaggeration, but sometimes a joke is not just a joke.
We also found a simple visual explanation of what’s happening with the Binance coin.
We can estimate the overall expert field reaction as positive. Different rumors about new features and Binance informational support help to keep the degree of attention.
What Else To Expect
According to many experts, the forecast of the BNB rate also largely depends on the further actions of the Chinese authorities, who still cannot choose a specific course in relation to cryptoeconomics, and this prevents them from making any predictions. Nevertheless, the BNB rate has been steadily growing for three months, capitalization and trading volume is increasing.
For July 2019 their next planned milestone is starting margin trading program. This may affect the rate as well causing its growth.
Another point is banning US customers from the main exchange. This measure didn’t affect the whole picture but if restrictions will grow more severe, the usage of the exchange will be dropping which means lowing demand and rates.
BNB is a promising project from bold enthusiast and simply smart people. It has already shown huge growth in short terms even after serious setbacks. The founders have a clear plan and solid measures to control and develop the market positioning which means stable standing. We can’t give you any specific advice but BNB is considered as an investment option by more and more investors. Especially since it doesn’t actually depend on and correlate with other top assets.