Since the start of 2019, Binance Coin (BNB) has led the cryptocurrency pack, growing over 200 percent in three short months. It has demolished the performance of Bitcoin (38.9%), Ethereum (30.7%), Litecoin (187.8%), and almost every other cryptocurrency so far this year.
The native coin of the world’s largest crypto exchange is back to its previous all-time high while others remain under by 80 to 90 percent. So, it should come as no surprise that it’s quickly risen to hold the seventh largest market cap in the market.
To what can we attribute this rapid growth, though? Market manipulation? Strong fundamentals? Blind luck? As always, the answer isn’t so straightforward. While no one knows for sure why Binance Coin has performed so well, there are a few factors that definitely had a positive impact.
Binance Burns BNB Every Quarter
At least, it does for now. Every quarter, Binance burns 20 percent of the BNB it collects in fees from the…