Hey Steemers... just a quick post on Binance
Binance Coin (BNB) has performed exceptionally well over the last couple weeks. Binance is a crypto exchange which is actually making alot of money. Here are the numbers for Binance vs. Deutsche Bank in quarter 1
Recently CZ the CEO of Binance said publicly that the purpose of Binance is not to make money but to grow the entire ecosystem. They have since increased the referral commission on their exchange from 20% to 40% and also launched an investment fund to help early stage startups.
I'm wondering whether Binance Coin could start a broader market rally. In the past BTC has often led the rally but its quite possible that this time it will be an altcoin. What could rally next if this is true? Well possibly other exchange coins? What about the coins that Binance itself has ICO'ed and backed like Bread (BRD)? Also is it possible that in the not too distant future Binance will start paying a "dividend" on its Binance Coin to reward its community?
Regardless of what you think on the above it is quite obvious that someone is buying BNB here in decent size. Lets see if this can spark a broader recovery. Let me know what you think...
The header image is from Cointelegraph