BNB Roars During Crypto Bear Market
BNB is Clawing its Way to the Top
by: Gideon 6ix
Binance (BNB) appears to be well on its way to breaking itself out of the current crypto bear market. Out of the top 10 coins listed on Coingecko, BNB is the only coin in the green (8%) in the past week. You might say, “it has only been a week.” I would argue that with life in the crypto-verse, a week might as well be a month.
BNB is currently trading at 322.08 USD on a 24hr volume of 2.3B USD. The Market Cap stands at 54.2B USD. The all-time high (ATH) is 688.31 USD, dated May 10, 2021. This drop represents a 53% loss from ATH. This drop may not seem like a win, but it outperforms Bitcoin (BTC) and Ethereum (ETH), which, are down from ATH 57.5% and 59.8% respectively.
BNB is the native coin on the Binance Smart Chain (BSC). BNB is well known for its low fees and excellent automated burn program known as BEP95. The real-time burn can is accessible to anyone here. The purpose of the BEP95 was to “speed up the burning process of BNB and make BSC more decentralized.”
BNB is also known for helping customers when other platforms are unable or unwilling to do so. For instance, they invest heavily to help support projects that want to move away from the collapsed Terra (Luna) platform. In fact, BNB has invested nearly 1B USD in projects wishing to join the BSC.
CZ (Changpeng Zhao) is the CEO of Binance and is very active on social media. His Twitter account alone boasts 6.2M followers, not too far off from BNBs official Twitter. With the recent news that Coinbase will now support BNB swaps on their platform, the market is ripe for BNB to continue clawing itself out of this current cryptocurrency winter.
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All the best,
Gideon 6ix
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Sources:
BNB price today, chart, and market cap | CoinGecko
BNB price today is $320.86 with a 24-hour trading volume of $2,514,603,966. BNB price is down -3.6% in the last 24…
www.coingecko.com
Ethereum price, ETH chart, and market cap | CoinGecko
View Ethereum crypto price and chart live, ETH market cap, 24-hour trading volume, circulating supply, latest news and…
www.coingecko.com
Bitcoin price, BTC chart, and market cap | CoinGecko
Bitcoin price today is $29,265.88 with a 24-hour trading volume of $27,709,773,614. BTC price is down -2.8% in the last…
www.coingecko.com
BEPs/BEP95.md at master · bnb-chain/BEPs
This BEP introduces a real-time burning mechanism into the economic model of BSC. To speed up the burning process of…
github.com
BNBBurn - BNB Real-Time Burn and Auto-Burn Schedule
How does BNB Burn work? BNB uses an Auto-Burn system to reduce its total supply to 100,000,000 BNB. The BNB Auto-Burn…
www.bnbburn.info
Binance Labs | Empowering the Decentralised Web
Our Story Binance Labs identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities…
labs.binance.com
