Re: why BNB price Bumping

Quote from: Gogo_owner on February 13, 2021, 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/

It is not an important question why the BNB price is rising, But the answer is very simple investors have trusted the BNB because its a product of the worlds largest crypto exchange and also dont underestimate the potential of the Binance Smart Chain which is also using BNB as fees because if the trend will continue It will be surpassed the Ethereum Network in terms of volume and for me, it's far better than paying a $30 while sending or trading in Ethereum.