Yesterday I shared a post here, in the Hive community, about the price of the Binance coin (BNB). Before I went to sleep the price was $195 per token.
I just woke up and I'm even more surprised that the price is already $ 264 !!!
That's 56% increase for the last 24 hours.
I really believe that Binance is the best crypto exchange :))
Have a nice Friday folks!!!
You did say so. What is the bnb used for?
@amirl For example they are giving the option to the users to convert it directly to fiat and to withdraw it to your debit card. Also, they have some challenges which are supporting the coin :) BNB is currently in 3th position. For the last 24 hours the volume is $11,079,920,464.61 so.. :)
Hey there @amiri
IMHO (aka not financial advice ;-)):
BNB is Binance Exchange's native token... using BNB to pay for trade fees gives you a discounted trade cost. HODLing BNB also pushes you up on the "VIP level" (further trade discount fees increased limits etc - You need at least 50 BNB to get to level 1 though - a tall order with the latest price).
Another reason why BNB is so popular is that they have some very cool "mining" options in their LaunchPools & BNB Vault (essentially staking BNB to farm other/new-to-launch tokens)... $LIT and $REEF recently had some very decent returns... and a few hours ago they just launched the $DODO mining pool).
FWIW: The MAIN reason I'm such a fan of Binance is that they're offering support for ZAR (South African Rands)... buying BTC & ETH on one of our local exchanges and then sending those Binance/Bittrex/Coinbase eats away at potential profits with the currently insane BTC/ETH network/gas fees.
#My2Cents ;-)
!BEER
!ENGAGE 5
@amiri @lyubo19 : Having said that... I was tempted to "get out at ~$190s and buy back in at $120"... $200 seemed pricey, and the current $260 seems WAY overvalued (to me). I'm glad I never got around to dumping any though (Staked everything for DODO mining).
#MyOther2Cents
Thanks for the explaination and also for your opinion on the price.
Noone can predict the price, so getting in and out is usually not the best way to go.
But the usability of the token sure sounds attractive and it makes sense why this is a rising crypto currency.
Btw whats DODO ?
In their own words: DODO is a next-generation on-chain liquidity provider. aka "another" UniSwap, JustSwap et al.
Check them out at: https://dodoex.io/ & https://www.coingecko.com/en/coins/dodo
P.S. Before the BNB staking announcement I had never heard of them (and don't hold any tokens)... I just enjoy "playing" with the BNB Lanchpools (I intend HODLing BNB 'forever' ... was just tempted to make a quick buck selling at $200 and buying back when it drops... which it, fortunately, didn't ;-)).
FWIW: More often than not BNB's Launchpool has a (huge positive) effect on the underlying coin's price... but didn't buy into DODO this time (I know nothing about them).
Thanks! Following you, loved the onion filled bacon rapped humburger!
Thanks... yeah, the foodie-game is my ACTUAL thing... but crypto hooked me about 4 years ago and has become my "2nd love" ever since.
i.e. DO NOT take financial advice from a burger-flipping-spandex-clad weirdo on the Internet (even if I think I'm right ;-))... BUT... please DO feel free to take my advice on BBQ though ;-)
ENGAGEtokens.View or trade
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I guess you have some tokens. Right?
Yes I do actually still have some BNB! 🚀 (i just earn free bnb from some old referrals)
I personally don’t like binance since the exchange stole a bunch of HIVE from me.
Every time i see a post about them I usually flag it! I left yours alone tho!
Opps! I reported my post by mistake 😃