Binance is the world’s most significant cryptocurrency trade and exchange platform. It includes a native token called Binance Coin (BNB). The initial idea for this digital asset was to eliminate friction for traders at Binance by fueling the transactions, paying for fees, making in-store payments, and things of the sort. It was an internal asset; it wasn’t supposed to become a retail currency.
Then something interesting happened. Binance’s trade volumes are so high that the demand for BNB soared from the very beginning. That brought the price up very quickly. This is a remarkable example of how usefulness in a cryptocurrency makes it perform well in the market. Even during the 2018 crypto winter, when every other coin was losing value (Bitcoin included), BNB managed to be in green numbers most of the time.
So BNB’s usefulness created demand, then the demand created value and high market performance. The next step was natural: so many users were buying and holding BNB that it has found many other use cases outside of the Binance platform. Maybe it started as a lubricant for the Binance ecosystem, but by now, BNB is one of the most useful and reliable cryptocurrencies in the world because it’s found several ways to be useful whether you trade at Binance or not.
BNB trades at $33.66 as we write this and it’s the seventh cryptocurrency by market capitalization which is at $4.7 billion. These are impressive numbers for a resource that was supposed to be internal to a single website. Read More at TronWeekly...