Why Is BNB Token More Valuable As Compared To Other Cryptocurrencies?

[Good-Guy]

We all know about BNB (Binance Coin). It is often regarded as the mainstream token of Binance blockchain and it is purchased and traded by many people in the world of cryptocurrencies. Right now it has been gaining more and more value. At the time of writing this, the value of BNB token has increased by more than 1,900 percent and this coin is increasing again after losing its value. I believe that it is proving to be good for new investors because after the massive crypto market fluctuations, this coin lost its value. I am sure that there are many other tokens out there, too. However, I really do not know what makes BNB so much more profitable as compared to other tokens! Is this because BNB is the main token of Binance blockchain?

 

[Ahmedo24]

Binance is the largest cryptocurrency exchange platform at the moment it runs a lot of projects and its platform and these projects are connected to the use of the binance coin so obviously the trading volume of this coin will continue to go higher in as much binance continue to expand its activities. Binance platform also burn this coin at every quarter to reduce the circulation supply which is usually responsible for the increase in the value of the coin.

 

[Bookwormlux]

I believe so much in this coin because it is owned by the largest crypto currency exchange platform that I have seen which is also involved in the Crypto sphere. I have observed how much influence binance has over the price of some coins as they get to increase in value whenever binance list them. BNB is a very good coin that I am holding.

 

[Good-Guy]

Binance is the largest cryptocurrency exchange platform at the moment it runs a lot of projects and its platform and these projects are connected to the use of the binance coin so obviously the trading volume of this coin will continue to go higher in as much binance continue to expand its activities. Binance platform also burn this coin at every quarter to reduce the circulation supply which is usually responsible for the increase in the value of the coin.

I guess there are many other trading and exchanging platforms as well that are also quite good and they have also launched their own coin. I do agree that they may not be as popular and big as Binance is, however, they are still in operation and I believe that they are also generating revenue. Unfortunately, there tokens are not performing as well as the Binance token is. I believe there must be more to it when it comes to Binance's token performing so well.

 

[NXTGChain]

Binance Smart Chain has been a huge launchpad for many token projects. The low fees makes it super attractive compared to ETH.
Certainly the end result will be BNB being a hugely sought after. There are a few other exchange tokens that may perform well like FTT from FTX, simply because it is a great exchange, but it doesn't have as many use cases.

 

[Josemendez]

It all revolves around BNB having use cases . First their Binance smart chain network has been a great tool that has helped the coin to thrive. Projects built on the network demands that every user who wants to interact with the network will first of all have smart chain for paying gas fees. This is what helps to attract more people towards buying the coin and thus Increasing it's price.

 

[soxcryp]

The case of BNB represents a significant valuation in the cryptocurrency market, because it is, so to speak, the fuel of the main exchange platform in the world. Every transaction that takes place on the Binance network generates a commission that is paid in BNB. Hence one of the reasons for its positioning in the cryptocurrency table.