BNB Rise & Shine
Well well..
Among other investments, I like to throw in a crypto-currency investment here and there.
Back in December I called the Binance Coin was now officially in for a good ride during a Messenger conversation with a friend. (Dec. 16th 2018)
Turned out pretty well so far, as it started rising the very day after our discussion and as been going up ever since.
There are a few reasons why I believed this coin was set to rise:
-They have an ongoing coinburn system, decreasing the total supply of the coin multiple times a year.
-They are planning of splitting BNB from the Ethereum BlockChain. Having their own BlockChain will allow them to list other coins under BNB, giving it increased volume for each one of them. Binance, being such a well known and used exchange, will be very well positioned to attract potential tokens, as long as their upcoming BlockChain can handle it.
-They are planning on launching their own DEX (like a decentralized version of themselves). This will just make them an even bigger company with more resources, and attract even more investors who might have stayed away as there was no decentralized options while using them so far. BNB will be at the center of most trading pairs on both exchanges.
So all in all, the supply is slowly going down, while the potential use cases are rapidly going up, increasing it's demand.
This morning they announced that the Binance Chain and the Binance Dex have now entered the public testnet phase. This might be a short time catalyst to drive the price higher, because it's another step closer to their end game: Mass Adoption and Usage of the BNB Coin (and of course the price will inflate proportionally).
*Note that here I'm writing about legit increase of value and therefor price. I write this in complete disregard of any market condition (Bear/Bull Run), as this is not on what I relay on for profits.
So anyway, this is not financial advice. I am not a pro, and you should definitely do you own due diligence.
What do you guys think about BNB??
Cheers.
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