Binance coin (BNB) has been in a roller coaster ride for these past few months. Currently priced at around $16, many investors and crypto enthusiasts are putting a mark on this asset and have a very high expectation for the role it will play in the future of cryptocurrency.
BNB is introduced to the market as a token for Binance.com trading. Through the course of time, it has evolved and now serves not just as a trading fee in the platform. BNB can now be used as Binance account tier, dust (small crypto balance) converter, IEO lottery ticket (holding at least 50BNB equates to tickets), Binance Chain native token, and like bitcoin, it can be spent as cryptocurrency to buy gifts pay for services (not crypto related) and others.
As Binance.com and Binance chain's native currency, BNB currently holds 9th place in market cap. While Binance CEO CZ is a bit quiet about BNB, the whole Binance team has been working tirelessly in delivering new features and products to its users. Binance continuously expands its service by opening subsidiaries in different parts of the world offering tailored products and services depending upon the need of the clients and allowed by the government. Partnerships are also a thing Binance is hardly working at. expanding its client base is a smart move to dominate the crypto market before it is fully opened to the world.
Most recently, Binance opened its Binance pool. This move allows its user to participate in mining activity through their platform. Apart from mining, Binance also offers savings, lending, leverage trading, and more. Truly Binance is a little giant waiting for the market to be ready for its big blow.
Having said all of these, I can say that BNB is undervalued. Considering the benefits Binance is able to give its users, the potential use case of the coin, and future wide adoption of the blockchain (that we are all looking for) not to mention its current 150M circulating supply, this precious coin shall not only be worth $16. But we can not deny the fact that the current market sentiment and fear in the market greatly affect cryptocurrencies' prices.
