While BTC has always been the first cryptocurrency in Marketcap. While ETH remains the second, and will probably stay at this place for a long moment, the third place is very disputed, but a serious coin seems to be taking a serious advantage compared to other competitors.
Indeed, the BINANCE Coin is knowing a huge and brutal rise. Is this coin overestimated or not ? We're going to try to answer it.
45 billion total Marketcap
It's done, BNB overtook XRP and is now standing on the cryptocurrency marketcap podium. Will it stay like that for a long time ? In my opinion yes, but I will write about it in the second part. Now let's have a look at the BNB chart.
Insane, absolutely insane. Brutal, unexpected, there are many words to describe this chart. And the fundamentals are there : BNB is very useful. This being said, is it overestimated ? With that type of rise my first idea would be yes, but in fact maybe not, let's see why.
What are the reasons of that rise ?
The Tokenomics : BNB has a limited supply which creates inflation. Plus, Binance is burning BNB up to 20% of its profits, which engenders a pressure on the supply and even more inflation.
The utility : BNB is very useful as I already said earlier in the article.
You can stake them to increase your cashback on your BNB payment card.
You can use them to reduce fees on Binance and on th BSC (Binance Smart Chain), which is having an enormous success this month.
You can stake them to earn cryptocurrencies on the Binance Launchpad and on the Binance Vault. Very often, those cryptocurrencies are making 500 % / 1 000 % after their official launch which makes it pretty interesting.
It makes the BNB very useful and may explain why its prize is climbing a lot. As leader of centralized exchanges, I think BNB is a good long-term investment. However, maybe you should wait a correction before taking a bag of BNB.
Do you hold BNB ? Do you plan to buy BNB ?
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