Binance’s own cryptocurrency, BNB, one of the largest crypto exchanges, has almost doubled its value in the last one and a half years. BNB price exceeded $ 500, breaking the all-time record.
The cryptocurrency market is getting more crowded every day, and a new cryptocurrency or DeFi product is released almost every week. A small part of these cryptocurrencies provide very serious increases and give their users the opportunity to make a serious profit.
Binance, one of the largest crypto money exchanges, also offered its own crypto currency BNB to its users. Attracting great attention, BNB has become a favorite of platform users. This led to a dramatic increase in BNB prices.
1000 times in 1.5 years
Binance Coin (BNB), one of the most profitable crypto currencies of the last period, continues to rise. BNB, which made a significant breakthrough at the beginning of April, managed to find a place in the portfolio of almost every investor, especially with the advantage it provides in use within the platform.
Binance Coin has managed to identify a new ath (all time high) today, exceeding $ 500. BNB, which went on sale at a very low point, was trading at $ 263 on March 29. It has increased by 82% since then and by 53% in the last 7 days. The increase of BNB in the last year was 3485%, which means its value has increased approximately 350 times.
Moreover, BNB’s journey may not be limited to this. Because CZ, the founder of BNB, recently shared on his Twitter account, “When you burn the coins, you will be removed from circulation forever. It increases the value of the remaining coins. BNB burn in a few days! It is not investment advice!”
he used the expressions. Consequently, if the market is not pricing this possibility at the moment, the prices may increase further after the coin burning. As a result, according to basic business approaches, if the supply decreases while the demand is the same, that is, if the demand does not decrease while a good decreases, the price increases, just like the graphics cards. Of course, this is not investment advice either.
Let’s see what kind of a change BNB will show us in the coming days.