• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Binance, Binance Coin, Binance Smart Chain, BNBUSD, BNBBTC, BNBUSDT, BNB
Nexo Logo

Binance Coin (BNB) Bull Run: Analyst Makes Bold Case for $500

Yashu Gola by Yashu Gola
1 year ago
in Binance Coin
Reading Time: 3 mins read
Advertisement

Binance Coin should do to Ethereum what Bitcoin is doing to gold: eating a good portion of its market capitalization by acting as a better alternative.

That was pretty much what Changpeng Zhao, the founder/CEO of Binance cryptocurrency exchange, dictated in his series of tweets on February 28 as he pitted their Binance Smart Chain against Vitalik Buterin’s open-source blockchain Ethereum.

Mr. Zhao compared the second-largest public ledger with yesteryear social media platforms like Friendster and MySpace who had to shut down due to their inability to “handle the load.” Ethereum, he noted, is growing as a network, but its services remain sluggish yet expensive.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Read further: Binance Coin Spikes 100% After Threatening Ethereum's Dominance

In comparison, Binance Smart Chain (BSC), a centralized blockchain protocol with smart contract functionalities, can handle more transactions at a lesser fee.

“BSC is not an ETH killer,” the 44-year old business executive tweeted. “It is built with learnings from ETH and tries to help solve one key issue, high fees. It wasn’t designed that way, or at least, it wasn’t presented to me as such.”

Mr. Zhao’s sugar-coated warnings to Ethereum later got picked by an independent analyst. The pseudonymous entity provided five reasons why the Binance ecosystem’s native token BNB would surge to $500, almost twice its value from now, as traders choose it over Ethereum’s ETH cryptocurrency.

The Bullish Catalysts

BNB serves a de-facto currency on all the Binance platforms, including a cryptocurrency exchange, a crowdfunding platform for emerging blockchain projects, interest-yielding pools, and two separate blockchains (BSC one among them).

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Traders use BNB to pay discounted fees for the said Binance services. Meanwhile, projects that want to list their tokens on the Binance exchange can also pay the firm via BNB.

Overall, growth for the Binance ecosystem loosely translates into more adoption for its native cryptocurrency, BNB. Meanwhile, the company used to burn 20 percent of its BNB revenue every quarter, ensuring scarcity against rising demand.

However, in March 2019, Binance changed their whitepaper so that the BNB in the treasury would be burned based on “volumes”.  Their treasury has 32 million and 16.5 million BNB frozen and circulating.

To many, BSC is a BNB demand booster because it directly challenges Ethereum’s status-quo.

Why $BNB may be > $ETH:

1. Currency of the top exchange.
2. "Centralized" marketing is still stronger than decentralized/organic.
3. Less fees/faster transactions.
4. Faster growth.
5. More upside.

Now $BNB is at $250, 4.6X smaller than $ETH in cap. Growth potential is there. https://t.co/jdKRVPTRlL

— Crypto Godfather (@CryptoGodfatha) March 2, 2021

The prospect has seen the BNB/USD exchange rate rise from $36.96 at the beginning of this year to as high as $348.69 on February 19. The pair reaped benefits from newfound attention in BSC as the Ethereum network experienced network clogging and higher gas fee issues.

Binance, Binance Coin, Binance Smart Chain, BNBUSD, BNBBTC, BNBUSDT, BNB
Binance Coin attempts to reclaim record highs on booming BSC adoption. Source: BNBUSDT on TradingView.com

“BNB is at $250, 4.6X smaller than ETH in the cap. Growth potential is there,” the analyst noted. “Mark my words: $500 minimum very achievable with all the fundamentals and market conditions as is.”

BNB was trading at $252 at the time of this writing.

Tags: BinanceBinance CoinBinance Smart ChainBNBbnbbtcBNBUSDbnbusdt
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Binance, CZ in El Salvador

Binance ‘s CEO Visits El Salvador. What Will He Meet President Bukele About?

3 months ago
Binance Coin, a child with a winning pose.

Binance Coin Dubbed “Winner Of 2021” By Crypto Research Firm

6 months ago
CZ, a jar of coins

Binance’s CZ Wants Entrepreneurs To Create Coins. Does His Argument Make Sense?

6 months ago
Picture of coins on fire

Binance 17th Burn Sees ~$640 Million Worth Of Crypto Taken Out Of Circulation

9 months ago
Crypto Industry, dollars burning

Are These The 6 Richest People In The Crypto Industry ?

1 year ago
Binance Smart Chain BNB BNBUSDT

Binance Smart Chain Partner Receives Funds From 16 Institutions

1 year ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto To Add The Best Gains To Your Portfolio For Bull Market: Gnox (GNOX), Cronos (CRO) And NEAR Protocol (NEAR)

July 1, 2022

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.