Starting out on the Ethereum blockchain, Binance soon grew up to become an essential force in cryptocurrency. Finance Smart Chain is an autonomous blockchain with a primary focus on crypto exchanges. BSC also accommodates some very successful cryptocurrency projects as well. One of these is the HUH token that gained over 9,000 wallet holders, with an estimated 10 million in trading volume within seven days. The star of the show, however, is the BNB coin.
When Binance decided to build its own blockchain, the primary need was to appropriate its native coin to suit the various functions on the blockchain. BNB can be used to pay for transactions when the exchange happens on the Binance platform. But this versatile coin can also be traded with other cryptocurrencies listed on the platform as well. Moreover, the comprehensive design of Binance allows users to pay for their credit cards and make arrangements for their trips through several service providers.
The BNB coin is currently listed for 433.24 dollars which is more than 30% below its all-time high of 690 dollars. However, it is very alarming as experts claim that BNB could cross $2,000 by the next ten years. The coin is also expected to rise to $600 by the end of 2022, and for five-year entry, BNB could bring considerable profit. Check out this BNB price prediction to learn why your portfolio needs this coin.
Although BNB adds to the positivity, it is not all that makes investors be pleased with Binance. Apart from the token values, a platform’s future also depends on the trading volume it posts in a year. In that case, Binance has seen a gigantic surge in the numbers since 2019. The exchange volume on Binance was 410 billion dollars as it closed its accounts for 2019. Fast-forwarding the next two years, no one would have imagined Binance exchange volume to reach 7.7 trillion dollars. A comparison between the two numbers proves that the biennial growth of the exchange platform is just 180% short of 2000%.
The reason for this surge is stated to be the post-pandemic crypto boom in 2021. If the platform continues this trajectory, it is not long before Binance takes the top position among the crypto exchange platforms. This view is buttressed by several other statistical figures as well. The number of altcoins listed on the platform grew significantly in 2021 and continues to do so in the new year as well. This trend is reflected in the number of users on the platform, too, as it nearly grew twice as much as in 2019. Binance looks strong and is expected to continue its journey with great numbers and overall growth.