Ever since the top ranked crypto exchange company Binance launched their coin labelled Binance Coin (BNB), it was seen as a very good investment in its earlier stages due to the popularity of its parent company. Comparatively new, it’s not sure that it will reach the same level of popularity as some of the other altcoins and certainly it is too soon to be comparing it with Bitcoin but it is still up in the Top 10 cryptocurrencies in the world. Not bad for something being valued at $15.96 at the time of writing.
With the coronavirus pandemic affecting every country in the world, many believed that the company would be met as the same fate as most crypto based platforms. Even the mighty Bitcoin was no exception suffering a loss initially but despite the impact of Covid-19, Binance has remained strong and has even hired 100 employees since then. They now expect to penetrate into the Korean market as a way of maintaining their growth.
Talking about the current form of Binance coin, it is clear to see that it is not doing so well. Trading at $16.40 just four days ago, it has dropped down to below $16 in such a short amount of time. Even though it has kept its ranking in the top 10, any further decreases would be severe in terms of existing popularity.
What do you think will happen to Binance Coin? Will the value keep dropping? Will it make a comeback? If you have your own opinion on this topic, drop me a message at the chat box or any of the social links and we will be sure to feature you and your opinions.