Binance Coin (BNB) down by 8%. why?

Binance Coin (BNB) down by 8%. why?

By icryptoguy | Cryptoguys | 25 Sep 2019


Hello crypto lovers today I am going to talk about Binance coin . It's value is falling continuously .

What is Binance ?

Binance is a global crypto exchange that provide a plateform for trading in more then 100 cryptocurrency . since, 2018 Binance is considered biggest cryptocurrency exchange in terms of trading volume .

Binance coin (BNB)

Binance exchange plateform has launched it's own coin and it is dependent on the exchange plateform .

means it's value fluctuate when there is fluctuation 

on the exchange . like when a crypto is added to the trading plateform because of high volume trade on binance decides value of binance coin .

On june 22 it reached it's heighest value which is $39. and till now falling continuously in last 24 hours it came down by 8.8%. and we can't pridict when will it stop.

So after looking on the fluctuation on the coin long term traders will not add this coin in their stock . 

short term traders can earn profits for small time , they just have to wait for another coin listing of coin on the plateform and always remember it is not necessary that value of BNB coin will increase after listing because it depends on various factors of coin like trading volume , coin market cap , total exchange in 24 hours etc.

since Binance has not listed any coin since last few months value of BNB coin decreasing continuously.

Binance has lost its 50% value in last two and half month and now it is in the list of top 20 worst performing coins.

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Data from Coinmarketcap.com

 

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