Binance Coin Price Prepares For A 40% Bullish Rally 666$ : After today Crash from 470$

avatar

Crypto Biggest exchange

Binance is a native token of largest exchange but it is just not a coin which is used for only in typically trading but it became a ecosystem after a launch of Binance smart chain.

bnb.PNG
Source
Today almost 700+ dapps a running in binance smartchain and for each transanction you need binance (bnb) as a fee as similar to other blockchain to pay as fee and complete your transanction.

Total Coin Supply (MAXIMUM)

The total coin supply of BNB token is 166,801,148.00

Total Circulating Supply

The total suplly is under circulation as no more new BNB token in print left 166,801,148.00 since all 166 million coin are in circulation so there is no more inflation left.

Transaction Volume in Exchange

The daily trading volume which is $2 billion in makes the Binance Coin (BNB) superb over other competetive exchnages and no one near him.
It is one of the top 3 cryptocurrency on coinmarket and replacing its marketcap after ETH and BTC is difficult for any other project.

Will BNB is able to replace ETH in future so much rumours are there in market as number of users on BNB blockchain is at 3rd largest now after following LUNA and polygon, We need to keep eye to watch in 2022 financial year.

The chart pattern of today after sudden crunch in market clealry tells this glitch will be clear soon.
Today crash was expected and blood bath happened in mostly all cryptocurrency and more on choosing major lke ADA, MATIC, Luna, ETH.
Long term chart pattern that might take the BNP price prediction towards $1,000 by the end of 2022.
A first step towards journey and resistance for BNB
Binance Coin Price Prepares For A 40% Bullish Rally.

At the time of writing, the BNB price hovers in the green around $470 as bulls fight to hold on to the $460 support in a range bound trade in between460-520$.

CHART READING

bnb study.PNG
Source
A one week chart pattern cleary shows a long term trend and its looks like with sometime frame it will touch soon 700$ mark as well before taking any further more dip and then consolidation phase for sometime before onwards journey towards 1000$.

Binance Burn

BNB token burn in each quarte to reduce the BNB supply untill it reaches to 100 million tokens. This strategy is attractive. A few% profit portion at each quarter BNB burns to reduce its total token supply. this also makes BNB unique and it become deflationary token as well which is like a long term asset like ETH which alo became deflationary and completely decentralized as benchmark.

If you do not have account on Binance exchange.
Here is below my link and you will get 20% trading discount after joining.

  1. Binance futures and spot trading

Open account
Sign up

Get 20% trading discount from my link use Refer code -65635555

Follow me here for Crypto news, strategy and airdrops
Twitter
Mypage



0
0
0.000
2 comments
avatar

Burning crypto has always puzzled me, especially the way crypto is burned. This is a cool article because before I ever heard of Binance I was into CoinBase trying to figure out this crypto thing lol
It makes me feel a bit backward.

0
0
0.000