If this is the case, the next wave 3 up should take us to the 1.618 fib extension of wave 1, measured from the low struck in wave 2. Since then, we have been correcting in an A-B-C structure, and based on the recent action, I believe the low could be in. Like many other cryptos, I see BNB as having completed a wave 1 up into $700, which ended around May 2021. With that said, let's look at the price forecast based on EWT. The supply is capped, and tokens are regularly being burned. Price TargetīNB has many uses, both within the exchange and outside of it. Overall, the current tokenomics makes BNB quite deflationary, which is good for investors. This ratio will be determined through on-chain governance. With BEP-95, some BNB is burned with every transaction. Recently, Binance also introduced BEP-95, a proposal that expands on the current burn mechanism. Users can use the token to pay any fee on the platform, including the listing fee, exchange fee and withdrawing fee. Eventually, the platform burns all the repurchased tokens so that only 100 M tokens remain in circulation. The process continues until the platform possesses 50% of all tokens, i.e., 100 M BNB. The platform uses 20% of its profits to repurchase tokens and burn them. To deal with price fluctuations, Binance keeps the supply of its tokens scarce through various measures like repurchase and burn events. Moreover, users can directly participate in these events via Binance's Trust Wallet dApp browser.ĪDAMANT Messenger: The decentralized messaging platform offers cryptocurrency transfers and BNB among its listed digital assets. The token can be used for various auctions and competitions hosted on the platform. The device offers native support for Binance Coin in Zion, which allows EXODUS users to access the platform.ĭecentraland ( MANA-USD): BNB users can also take advantage of the products and services offered by DeFi gaming platform Decentraland. It's like having a mini-bank in one's pocket. HTC: HTC is the brains behind 'EXODUS 1', a crypto phone compatible with Binance Coin. Binance developers would be able to use the tokens listed on Pundi X's open platform in 25 countries. The dApp provides its partner merchants with point-of-sale devices that enable them to accept cryptocurrencies like BNB as payments for transactions. Pundi X: The dApp is a digital payments solution integrated with BNB. Here are some popular dApps that BNB powers through the BSC network. The big caveat is that it is a centralized blockchain, and it also doesn't help that the company was founded in China, although, given the current laws, it does not operate there anymore. The Binance Smart Chain is a great place for new startups to launch their blockchain projects. Binance is also one of the most secure exchanges, and although there have been some hacks within its ecosystem, the main chain has not been attacked successfully. Binance is perhaps one of the fastest blockchains out there, being able to complete 1.4 million TPS. In terms of Security and Scalability, BNB does excel, though. With that said, the current merge aims to, at least, improve on-chain governance. It is controlled by only 40 validators, and it is supported by the Binance exchange. Now, let's talk about Security, Scalability and Decentralization. Security, Scalability and Decentralization These blockchains applications will be able to coexist in one single ecosystem, thanks to the network's multi-chain capabilities. The objective of MetaFi is to allow for the development of a wide variety of blockchain functionalities. The BNB chain aims to be a place to develop "MetaFi". However, the chain was limited to 21 validators, but this has recently been increased to 40. The company has stated it has reached 1.4 million TPS. The Binance Chain is EVM compatible and allows for creating smart contracts and DApps that can be used cross-chain.īNB uses Proof-of-Stake Authority, which allows it to attain fast transaction speeds. With this move, Binance aims to create an ecosystem beyond the Binance exchange. Since February, these have merged to create the single Binance Chain. On the governance side, we had the Binance Beacon Chain, and on the execution side, we had the BNB Smart Chain (BSC). The Binance blockchain used to be made up of two layers. Given the popularity of the exchange and how fast the network is growing, I believe BNB is a good buy at today's price. The BNB token is necessary to operate on the BNB blockchain and is also an integral part of the BNB exchange ecosystem. It has come a long way since, and its blockchain has grown significantly. Binance Coin ( BNB-USD) is the native token of the Binance exchange and was launched in 2017.
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