Quote from: mulia sabee on Today at 02:54:51 PM

Quote from: Elena_Rodriguez on December 06, 2022, 07:47:34 AM

Binance is one of the largest crypto market exchanges in world. It holds its token also as binance (BNB) coin. This token is now one among the top five crypto currencies.

Binance coin price is on roller coaster currently with after FTX drama. Binance CEO CZ, compares the collapse of FTX with 2008 fall of regulated TradFi, which had been in existence for more than 70 years.He is optimistic about the crypto market and predicts a swift and significant recovery for the sector.

In 2021, the BNB coin prices soared close to 1688.77 Percent and, from there, the market is waiting for a price increases at least until 2023. Since inflation fears are expected to become more severe at the beginning in the year ahead, Coinpedia Binance Coin Price Prediction(https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction) for 2023 is $275.2227 towards 2023's close. Currently BNB price is at $289.52 on Dec 6th 2022.

What do you think, Binance price will surge above $289 or bearish trend will drag it down?

Well that didn't take long BNB coin was $314 next day after I made the post. But now we are back down to $290 per coin and is up only 2% in the last week.
Yesterday Binance announced the BNB chain burned $575 million worth BNB tokens. Since the introduction of Binance Evolution Proposal this is now 145,000 tokens they have burned so maybe this is reason for sudden price decrease.

Usually when a team announces token burning, it causes coins to rise because the total supply is reduced. Most likely the decline in the price of BNB is due to market conditions. The whole market is in the red right now and there is no concrete news yet as to why this is happening.