BNB is a token as well as a blockchain that is backed by one of the biggest cryptocurrency exchange Binance. From the day I started trading or started observing cryptocurrenices, I have noticed that Binance had been one of the best places to trade cryptocurrencies. Starting from shit coins to big and better coins, Binance had been a very great place.
A few years back when BNB was launched as their token, I wanted to purchase at least a little bit and hold them in my account for the future. You will not believe it if I say this, I was about to purchase around 100 BNB with my other cryptocurrencies when the price of BNB was around 3 to 4$.
I have been observing this coin even before that. But I did not imagine today this would have potential like this. If we look at the graph we will be able to see drastic growth. People who had bought this at 5$ would have already had a great profit. Unfortunately, my holdings are stuck on Hive. Most of my investments are based on Hive and Hive related tokens. I'm going to say that it is bad or no hard feelings on that but when I see other coins blooming one by one and Hive standing like a stone in a single place, I feel a little bad.
But today I was very happy after seeing Hive touch 20 cents. I even captured a screenshot at that moment because I knew very well that there would be a big selling pressure when the price hits 20 cents. I guess the same happened. Many people moved their assets to their exchange wallets and sold them for a good price. I was also thinking of selling a little bit of Hive which I had bought when the price was 11 cents and 14 cents. I guess that itself is a good profit. If at all the price of Hive falls once again, it would be a great opportunity to purchase once again.
Coming back to the topic, BNB is sure a missed opportunity. I'm not sure if this is still a good price to purchase BNB. I thought the same when the price was 50$. But if I had bought a small quantity that that price, it is already 2X with the current price. Nothing can be predicted in this crypto world.
There are still people purchasing BNB vigorously even at this price. I guess we can also do so because BNB is a blockchain that is fully backed by Binance and they also invest their earnings from trading commissions into increasing the value of BNB. That is one of the biggest reasons why BNB is pumping like that. The blockchain is also very stable and many other communities have started creating wrapped tokens on BNB for their own blockchain tokens.
If the intention is for the long term, I believe the current price is also not a big deal. BNB has great potential and it is gaining popularity slowly like Polkadot and one big thing about BNB is that it is fully backed by Binance exchange.
Posted Using LeoFinance Beta