Here is the live price of the Binance coin.
This was reported by Bloomberg on Monday, which indicates that the cryptocurrency exchange is accused of violating securities laws during the initial release of BNB.
In detail, the SEC is said to be studying whether the initial offering of BNB in 2017 was “an unregistered securities offering that should have been registered with the regulatory agency”.
The revelation of this investigation caused the price of Binance Coin to fall, which was already impacted by the difficulties experienced by the cryptocurrency market. Its price is currently around $290.20.
The essentials to know about Binance Coin
Creation of the crypto BNB
Binance Coin was launched in July 2017 as an ERC-20 token of Ethereum. The migration will be done next and Binance has become a full-fledged blockchain with its own native currency.
The founder and CEO of Binance, ChangPeng Zhao, is a very well-known man in the cryptocurrency sphere. He is of Canadian nationality and was part of the team of developers of the Blockchain.info explorer, which became the Blockchain.com exchange platform.
The Binance coin is a utility token, in other words, holding it allows you to access certain features of the Binance ecosystem; in addition to the upside potential of cryptocurrency:
- Discount on your trading fees on the Binance exchange
- Cryptocurrency borrowing and lending
- Participation in Launchpads of new cryptocurrencies
- Buying NFTs on Binance
- Liquidity staking and farming
- Profitable savings on Binance
- More features to come…
- BNB Global Mirror Mag Rating: 9/10
Opinion on the project
Binance is a strong ecosystem that keeps growing with new features. It is the richest platform in the cryptocurrency industry.
Price Volatility Notice
Binance Coin is relatively low in volatility with a substantial daily trading volume. Which makes it a good candidate for day trading.
Medium term BNB price prediction
BNB downtrend is confirmed, but BNB/USD price support at $300 is likely to hold.
Long Term BNB Price Prediction
The supply of BNB decreases over time thanks to the operations of burning that permanently remove BNB from circulation. Thus, the remaining BNBs for holders are becoming increasingly scarce and their price is bound to appreciate in the long term. Also, Binance Coin has the same upside potential as Ethereum. The BNB could therefore exceed 4000 dollars.
Although less traded than Ether (Ethereum), the Binance Coin allows you to do almost everything that is done on the Ethereum network. It is a promising cryptocurrency that grants even more functionality.
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