Binance Coin BNB seems immune to market forces that keep other altcoins in a perpetual Crypto Winter. Even as other cryptocurrencies have been losing 70, 80, 90%+ of their all-time high value, Binance Coin has been making up lost ground for months. The current BNB price of £11.38 may be well shy of January 2018’s £17.96, but BNB’s upward momentum seems to be holding steady. What’s behind Binance Coin’s resilience in this challenging market climate?
First of all, Binance Coin has a more tangible use case than nearly any other cryptocurrency in the market. Despite bigger aspirations, most people use cryptocurrencies to trade for other cryptocurrencies. Sure, you can use Bitcoin to buy things, and people do, but most people who hold EOS or NEO or any of a hundred other altcoins aren’t doing anything but HODL and hope that prices increase soon.
Binance Coin facilitates cryptocurrency trading. Its parent exchange, Binance exchange, struck gold when it conceived the idea for BNB. It would be a currency used only for…