Can the Binance Coin (BNB) ascend to the Top 5 cryptocurrencies?

binance bnb coin

The Binance Coin (BNB) is chasing from one record high to the next. In addition to the many announcements and expansions of the platform, above all the Launchpad and the Binance Chain is a substantial driver of the price. The recent coup of Binance is the announcement of the imminent opening of its offshoot Binance.US.

However, this is not necessarily good news as Binance will have to expel US citizens from its main platform within the next 90 days. On the other hand, margin trading is already available for the first 1000 users, Binance 2.0 is being rolled out and the launchpad is becoming increasingly popular. Are all these news pushing BNB in the top 5 crypto currencies soon or will the United States become the downfall of Binance?

Binance Launches US Stock Market with BAM but Must Exclude US Citizen from Binance’s Main Domain

To start in the US Binance has decided to work with an established partner who also brings the necessary licenses. BAM will start Binance.US together with Binance and is looking forward to finally entering the forbidden country:

“We look forward to finally launching Binance.US and bring the security, speed and liquidity of to North America,” said CZ (Changpeng Zhao), CEO of Binance.

“Binance.US is managed by our local partner BAM and serves the US market in full compliance with regulations.”

Further information and exact market launch will be announced shortly. The problem with this message is actually that the main volume of Binance is being generated by US citizens. They must leave the Binance platform within the next 90 days. Whether Binance.US will become a new home for US traders remains questionable, because it is not yet clear which Altcoins can be traded there. The Damocles sword of regulation has thus struck again and weighs heavily on the Binance Coin (BNB) course today.

Margin trading at Binance in the first live testing phase

The eagerly awaited Margin Trading has already started and the first 100 users are already registered for a preliminary test run and can trade. With this, Binance will give its trading platform even more opportunities to invest in cryptocurrencies.

Binance brings back the popular community listing

The fact that Binance is quite busy is evident not only in the Binance Coin (BNB) course, which runs from one high to the next, but also in the mass of posts, videos and blog posts by Binance and CZ. Now Binance has announced that it will reintroduce popular community voting for listings on its recently launched DEX (Decentralized Exchange).
In this case, however, it is an even more exclusive option, as new listings can only be matched by projects that are already listed as BEP2 on the Binance DEX. This should serve as a quality filter and continue to bring high-quality projects to the DEX.

Binance 2.0 starts for the first users

Binance has rejuvenated its trading system after 2 years and started to roll out Binance 2.0 worldwide. In addition to margin trading, Binance 2.0 will provide 8 additional features designed to further enhance the experience on the Bitcoin Exchange. So it is now possible, for example, to exchange coins in a “Coin Shop” for Fiat.

The UI gets a small makeover and is made clearer. There will also be more info on the site, better visuals, more languages, faster trading engine and improved support.

Definitely many reasons to take a look at the platform.

Binance Coin (BNB) between Heaven and Hell – Top 5 Coin or Crash?

In the wake of many announcements and improvements, it seems forgotten that not so long ago the Binance hack had created chaos in the markets. At that time, 7,000 BTC were stolen from the hotwallet of the Bitcoin Stock Exchange, and spawned many discussions.

It does not seem to bother the Binance Coin (BNB), as it was able to regain its strength a short time later and has been following a wave of success ever since the beginning of the year. Just like Ethereum, success seems to be due to one fact: token fundraising. Because Binance were the ones who launched the IEOs theme with the restart of their launchpads .

Through its own blockchain, the Binance Chain and its own token standard, the BEP2, Binance seems to be increasingly targeting the ICO & fundraising market. Binance lures projects with listings to switch to their chain, trying to outdo Ethereum. With the user base of Binance certainly not an impossibility, where in any case most fundraisings only about Exchanges (stock exchanges) run.

It will be exciting to see how long the train of IEOs remains on the track, because that stands and falls one of the currently hottest bets on the Binance Coin (BNB). Although this is certainly not the only reason for the recent increase. All together could give the Binance Coin further growth and thus a possible rise in the top 5 of the cryptocurrencies.

On the other hand, the regulators’ permanent sword of Damocles hovers over Binance and has struck again today, putting pressure on BNB. US citizens must leave the platform within the next 90 days. Whether Binance.US can capture all these users with a previously unknown portfolio of Altcoins remains questionable. With the US as one of the main drivers of volume, that would be a big blow to Binance. So it remains exciting.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

Be the first to comment

Leave a Reply

Your email address will not be published.