How's it going fellow crypto fanatics!
Coming at you with another quick look at one of the most popular coins on the markets!
Binance (BNB)
For today's Two Minute Token Talk we'll be taking a look at the Binance token!
Let's hit the basics first!
- Launch Date: July 2017
- Launch Price: ~$0.10 USD
- Current Spot Price: $13.15 USD (July 17, 2018)
- Market Rank: 16th
- Market Cap: ~1.5 Billion (July 17, 2018)
Why so bullish?
Well, there's a number of reasons, not the least of which being Binance's clear dominance in the crypto exchange space providing a strong user backing for the coin. But more than the sheer massive user base, its the features! In a sea of seemingly uncapped transaction fees for cryptocurrency traders, Binance had already set itself apart from the crowd with its far lower fee schedule. But the BNB token takes it a step further, incentivising active traders to use the token in place of random coins to pay their fees, providing a 50% reduction in accrued trading fees. But it doesn't just cap out its appeal at traders. Long term investors & HODLers will also have the added benefit of Binance's quarterly token burn, removing tokens from the market and thus driving up the price of the remaining shares.
Anywho, hope you enjoyed this quick spin around the Binance token!
And remember, if you have a coin you'd like to learn about, an aspect of a certain project you'd like discussed, or even an entire point of comparison you think we should add to our coin tutorials, let us know in the comments!
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