Re: why BNB price Bumping

Quote from: Gogo_owner on Today at 03:08:14 PM

The definition of BNB:

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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

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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/

I think now its different situation since they have binance smart chain as a platform for any project to join, its like Ethereum but CZ promise will have a rational gas fee.
Also the chain already used PoS as the Consensus system. So BNB nowadays more than just a utility token for make Binance fee cheaper.