Today’s Video Briefing covers the newest cryptocurrency in the top ten: Binance coin, whose market cap edged past Bitcoin SV in a day of double digit gains. BNB is already starting to retrace, but is it good enough to stick around?
Kiana explains some of the reasons why investors see BNB as a good bet. Unlike most utility tokens, BNB’s value is anchored to one of the most successful exchanges in the crypto-space, with regular buybacks and token burns to prevent the supply from becoming too diluted. There’s also a clear roadmap, with some big milestones on the horizon: new token sales, a new DEX, and a new blockchain are all giving BNB investors something to look forward to.
But how does the road look in the short term? Kiana takes a look at the technical charts to see where the price is headed. Although the trend line has been inching upwards, BNB has a long way to go before it can recover to last year’s highs.
Is BNB a good trade, or a white elephant? Share your thoughts in the comments below, and don’t forget to SUBSCRIBE!