The market price of Binance Coin has recorded record numbers in recent months. Despite the increasing recovery of this cryptocurrency, the numbers are still far from what was recorded in the year 2017.
This exponential race to the listing from Binance Coin, which takes its name from the well-known and from the eponymous Exchange, brought the mind to the experts rally recorded by Bitcoin.
The surprising similarity between these two cryptocurrencies has meant that Weiss Ratings, to Binance Coin, has assigned the same score to rivals Bitcoin, Ripple and EOS.
What are the reasons for the success of Binance Coin?
The success of this cryptocurrency has soared in recent months, becoming one of the favorite digital coins for the payment of trading fees.
What makes it unique and attractive is the company's ability to link Exchange performances to the tokens that are in circulation.
After the ICO, the company announced that it is ready to spend the quarter each 20% revenue to repurchase and destroy Binance Coin, and is a feat that could last for over 70 years.
Just to give an example, in January, they were spent 1,6 million BNBs, for a total value of 13 million dollars.
This small reduction has helped to maintain the value of the currency.
Binance Coin has created a Public blockchain to allow the trading of digital resources that Zhao, co-founder of the Exchange, plans to launch within a few months.
This network, which takes the name of Binance Chain, will ensure that operators have free access to an Exchange that will handle transactions with an automated process, so there will be no need to have and exchange money on external platforms.
According to many cryptocurrency market exchange observers, the success of the Binance Coin listing was mainly the sale of BTT tokens on Binance Launchpad, a platform that allows you to take part in other ICOs using BNB.
In a nutshell, the price of the value of this currency may have grown as Binance Coin and Tron were the only services offered to take part in the ICO.
Binance Coin is the new Bitcoin?
According to the opinions of Weiss Ratings analysts, BNB could be the new Bitcoin observing the recent direction taken by the market.
In the 2019, the market listing of BNB was of the 300% and entered the Top 10 of the largest cryptocurrencies capitalized on the market.
Last month, Weiss Ratings awarded the score of B- to Binance Coin, the same that had the Bitcoin competitors, Ripple up to EOS.
Thanks to this judgment, BNB has been consecrated towards the ascent among the biggest cryptocurrencies on the market and, at the moment the listing of this currency goes beyond the 24 dollars, leaving hope that it can climb the world rankings of cryptocurrencies.