BNB/USDT Analysis: What do we expect?
Updated
❇️What Is🌟 BNB🌟?
Binance coin is tokens used in the binance platform, so although they are traded in the open market and their value fluctuates, they are something like a currency like the US dollar or bitcoin. In any case, the use of binance coins is very wide, so the value of this token is ascending.
We know ,Binance is the largest exchange in the world of digital currencies, with a daily turnover of more than a few billion dollars volume, and the institute is one of the richest people in the field.
Bainance has come a long way in a short period of time, thanks to the experience and efforts of Changpeng Zhao (CZ).
The exchange was so fast-growing that it also clashed with the venture capital firm Sequoia Capital, which had invested in projects such as Apple, Google, Oracle, People and others. Sequoia entered into negotiations to invest in Binance but to no avail because the exchange value was estimated to be high.
👉 The success of this exchange depends on several important key factors:
Binance coin has had a successful year. its price, like other cryptocurrencies, fell in March from $ 25 to $ 8 amid uncertain market conditions caused by the outbreak of the Corona virus. But the BNB took advantage of Defi's dramatic growth this summer and the inflow of billions of dollars by investors into lending protocols and decentralized exchanges.
Several Defi projects have been introduced to the Binance blockchain called Binance Smartchain. Most of these projects are similar to the popular ethereum projects.
As the discount rate decreases over time, the value of the BNB is expected to decrease accordingly. To counteract this depreciation, Binance uses a process called "Coin Burn", which is performed every three months. In fact, the ultimate goal of burning coins is to stabilize the BNB price over time. That if we put all these pieces of the puzzle aside in our minds; Leads to price increases.
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❇️Quick Technical analysis
Due to the recent growth of the crypto's marketcap , this coin also faced a sharp decline, and now we can consider this coin as a good investment opportunity technically, and as we can see,it is riding on EMA13 and have the dynamic and static Fibonacci support nearly .so it is good, which gives hope of price growth again after a short break and recent correction.
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
Binance coin is tokens used in the binance platform, so although they are traded in the open market and their value fluctuates, they are something like a currency like the US dollar or bitcoin. In any case, the use of binance coins is very wide, so the value of this token is ascending.
We know ,Binance is the largest exchange in the world of digital currencies, with a daily turnover of more than a few billion dollars volume, and the institute is one of the richest people in the field.
Bainance has come a long way in a short period of time, thanks to the experience and efforts of Changpeng Zhao (CZ).
The exchange was so fast-growing that it also clashed with the venture capital firm Sequoia Capital, which had invested in projects such as Apple, Google, Oracle, People and others. Sequoia entered into negotiations to invest in Binance but to no avail because the exchange value was estimated to be high.
👉 The success of this exchange depends on several important key factors:
Binance coin has had a successful year. its price, like other cryptocurrencies, fell in March from $ 25 to $ 8 amid uncertain market conditions caused by the outbreak of the Corona virus. But the BNB took advantage of Defi's dramatic growth this summer and the inflow of billions of dollars by investors into lending protocols and decentralized exchanges.
Several Defi projects have been introduced to the Binance blockchain called Binance Smartchain. Most of these projects are similar to the popular ethereum projects.
As the discount rate decreases over time, the value of the BNB is expected to decrease accordingly. To counteract this depreciation, Binance uses a process called "Coin Burn", which is performed every three months. In fact, the ultimate goal of burning coins is to stabilize the BNB price over time. That if we put all these pieces of the puzzle aside in our minds; Leads to price increases.
--------------------------------------------------------------------------------------
❇️Quick Technical analysis
Due to the recent growth of the crypto's marketcap , this coin also faced a sharp decline, and now we can consider this coin as a good investment opportunity technically, and as we can see,it is riding on EMA13 and have the dynamic and static Fibonacci support nearly .so it is good, which gives hope of price growth again after a short break and recent correction.
-------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
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