Three core reasons why Binance Coin (BNB) is perfect for both short and long term Investment.
According to coinmarketcap.com currently Binance is the number 1 exchange by 24h Volume and BNB is currently used as one of the main exchange coin on the platform. Furtheremore, Traders get 50% discount on fees when they exchange, withdraw or List using BNB con as a medium of exchange, so for this reason, the daily volume of BNB is growing so fast which is driving the price high.
Currently, the BNB coin supply is about 200M which is already small compared to coins like Ripple. In addition to that, the Binance white paper shows that Binance will spend 20% of its quarterly profit to buy BNB coins back and destroy them until they remain with only 100M. In other words, there will be less BNB coins in the market every 3 months so whatever you are holding will become much more expensive overtime.
Binance is partnered with the live video platform LiveUP (Youtube equivalent in Asia) which has currently 20million users and growing fast. The platform is currently using BNB coin for rewards, as a currency for users to buy digital products and much more which is increasing BNB coin adoption significantly.
For the above three reasons, I believe Binance Coin (BNB) will be a profitable investment in both long and short-term. As an example, 24 hours ago (Jan 7) the price of BNB was around $14 now at the time of posting this content the price of BNB is $22.63 in just a day ~161%. The growth rate may not continue like this but as long as people are trading ALTcoins in Binance I believe it will continue to grow nicely.
Sources on the below links
• https://coinmarketcap.com/exchanges/volume/24-hour/
• https://www.businesswire.com/news/home/20171228005141/en/World%E2%80%99s-Leading-Crypto-Exchange-Binance-Partners-Uplive
• https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf
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Kib