The BNB digital currency continues to shine in performance…Learn the reasons behind its high price
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer The BNB digital currency continues to shine in performance…Learn the reasons behind its high price
some people’s disasters are other’s benefits.
The dramatic collapse of FTX made Binance stand out as the white horse in the industry and its heroic savior, which made its digital currency BNB shine and rise in price by 15% in the last 7 days.
According to the analyst, “Andre Kang,” the BNB digital currency benefits from the general ecosystem of Binance, especially its recent IPO (we previously published about it in Bitcoin Arabs, to view it, this can be done through Link).
According to the same analyst, for more than four years, BNB has enjoyed multifaceted uses on its way to becoming a medium of exchange, and a store of value, among many other things.
Read:Report: Top 10 Ethereum Wallets Now Hold 23.7% of Total Ethereum Supply
He told Kang that he is now reassured that BNB has indeed fulfilled its purpose both as an exchange medium that can be staked both in the BNB blockchain ecosystem and in some real-world use cases.
The majority of cryptocurrency traders also use BNB as their working capital tool.
Binance, which oversees the issuance of the digital currency BNB, remains the largest cryptocurrency exchange in terms of trading volume and the number of registered accounts.
Surprisingly, BNB is a better “store of value” than the two largest cryptocurrencies, Bitcoin and Ethereum.
This is why Binance Coin (BNB) looks more attractive to cryptocurrency traders, investors and entrepreneurs than various other cryptocurrencies.
As previously told, Binance is a major beneficiary of the FTX / Alameda drama. In addition, the digital currency (BNB) is an entry ticket for all investors at the Binance Launchpad.
As such, analyst Kang is certain that Binance and its cryptocurrency will outperform competitors in the long run.
The Binance CEO was enthused by Kang’s conclusion, commenting on his analysis:
Read:DeFi Cryptocurrency Rise 1000% After Announcing Its Listing on Binance
Thanks for the support over the years!
So far, Binance appears to be the big winner in its rivalry with FTX, the fourth largest cryptocurrency exchange.
Although BNB decided to avoid acquiring FTX products, it benefited from users exiting FTX.
For example, as traders migrate to decentralized wallets, the majority of them choose either Trust Wallet or SafePal which are both backed by Binance.
Read also:
Binance CEO: The collapse of Luna is completely different from the collapse of FTX… Here’s why!
Ethereum Developers Determine Eight Updates for the “Shanghai” Upgrade and When Ethereum Stakes Can Be Withdrawn
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time