- A slew of partnerships could work in Binance Coin’s (BNB) favour
- Binance has signed up more than 40,000 users in Uganda in the first week of operations
- 100 percent returns on the cards during the next bull run
For those that actively trade cryptocurrencies or even occasionally invest, it is obvious to “own” where you trade. The BNB token is the native token of the Binance exchange. By possessing BNB in your account many benefits are provided, ranging from lower trading fees to earning a higher percentage of the fees generated by your referrals. If you have any referrals or make any trades, it only makes sense to own the required 500 BNB to lower your fees while increasing your referral bonus.
It was only last week that Singapore announced directly investing in the Binance platform. Financial capitals of the world are taking a keen interest in the largest and most respected cryptocurrency exchange. Binance also announced that in their first week in Uganda they signed up over 40,000 users.
Africa being underbanked and needing financial stability will likely turn to cryptocurrencies to combat hyperinflation. Exchanges will capitalize on this with Binance making early moves into the continent. This was not the only positive news for BNB and Binance this week.
Much More than an Exchange Token
TravelbyBit is integrating BNB as a payment method across all their platforms and merchants. BNB originally had very little utility beyond the benefits it provided for ‘hodling’ on Binance (lower trading fees and a higher referral bonus). However, the BNB cryptocurrency is pivoting from a coin used solely to benefit Binance traders to one that can be openly transacted and utilized on the same level as the predominant players like BTC. This not only greatly increases the utility of BNB but when utility increases price usually follows soon after.
What about Binance’s fearless leader that seems to maneuver through any regulatory hurdle thrown his way? Changpeng Zhao or more commonly known in the crypto space as “CZ” is one of the most influential individuals in the entire blockchain community. Not only did he manage to build what has been continuously ranked as the #1 exchange by volume in under two years but also actively engages the community, attends conferences, and is exceptionally humble for all he’s accomplished.
CZ is hands down one of the most active Founders in the space and his influence is rivaled by almost no one.
Supporting a coin that CZ is the Founder of, is the ‘baby’ of the largest cryptocurrency exchange, has news that regularly adds more utility (can now be used to pay for travel), and provides daily benefits for just HODLING makes BNB a top candidate for accumulation prior to the next bull run.
Final Thoughts
There will be a flood of new traders to the biggest exchanges when the Altseason begins, at that point, it will be too late to buy BNB. The time to accumulate coins that are likely to trend North in the short term is not once Altseason has begun, but prior with enough time to enjoy the gains.
BNB is a cryptocurrency with a market cap over a billion dollars that should easily see 100% returns at the nearest sign of the next bull run.
