Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Altcoin Discussion
Re: why BNB price Bumping
by
qazgroup
on 13/02/2021, 19:33:17 UTC
Quote from: Gogo_owner on Today at 03:08:14 PM
The definition of BNB:

Quote
Binance Coin (BNB) is a cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange

https://corporatefinanceinstitute.com/resources/knowledge/other/binance-coin-bnb/#:~:text=Binance%20Coin%20(BNB)%20is%20a,on%20the%20Binance%20cryptocurrency%20exchange.&text=Binance%20Coin%20was%20created%20in,own%20blockchain%2C%20the%20Binance%20Chain.

Why would their price continue to rise if they were designed to make Binance fee cheaper mainly its relative stability.
why price is over 130$ and fees will rise with it?

Uses of Binance Coin

Quote
Trading: Binance Coin can be traded for other cryptocurrencies on various exchanges, depending on the restrictions set by the exchange.
Transaction fees on the Binance Exchange: BNB can be used to pay for transactions on the Binance Exchange, and users also receive a discount for doing so.
Credit card payments: BNB can be the form of payment for crypto credit card bills on Crypto.com.
Payment processing: Merchants can offer BNB as a means of payment for customers, offering more flexibility in payment methods.

Used for Trading, Transaction fees Not Investing

https://coinmarketcap.com/currencies/binance-coin/
Most probably it is pumping because Binance has seen extreme growth in recent months, the amount of new and active users is so high that it has effected the performance of the platform and it feels sluggish or congested sometimes now so this high growth has created demand for BNB that is why price is growing.