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Binance Coin (BNB) has recently garnered a unique reputation spil a Tether styled coin that proceeds to remain stable even spil the market bleeds.
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The BNB’s voorstelling and behavior were recorded on behalf of Binance Coin (BNB) wasgoed also observed during the past few minor corrections.
The coin is down only 33% since its all time high, compared to 70% for Bitcoin (BTC) and 85% for Ripple (XRP). This shows that brainy money believes te the long term prospects of the crypto markets.
Further, it also means that investors that do not trust Tether due to its allegedly shady practices have found a fresh stable coin ter Binance Coin (BNB).
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Binance Coin (BNB) has traded well against Bitcoin (BTC) since February . This further vindicates the fact that most investors believe that the correction is overheen for the most part and thus risk taking is embarking to come back to the market.
Binance Coin (BNB) would not be surging upwards if investors feared that the market is due for another correction or were afraid to take risks with altcoins. Binance Coin (BNB) tokens are presently used on the popular Binance Exchange to pay exchange fees spil well spil to invest te ICOs that are suggested on the toneel.
The cryptocurrency has presently cracked out of a triangle and is trading sideways. It is pertinent to note that Binance has gained incredible support and recognition te the past few months and its future prospects look brighter than everzwijn.
This is why so many investors hold Binance Coin (BNB) spil they believe the exchange will be around for a long time to opoffering one of the best services ter the crypto markets. The coin presently ranks at 15th place, above projects like Ethereum Classic (ETC), NEM (XEM) and VeChain (VEN). This should be surprising to many considering the aforementioned projects are fully developed blockchains whereas Binance Coin (BNB) is just a utility token to be used on one exchange.
However, the fact is that markets are governed by supply and request and presently the request for Binance Coin (BNB) outweighs the request for any of thesis projects. This is because the level of risk taking ter the crypto market is unprecedented and investors are looking to invest te puny cap coins more than everzwijn.