Binance Coin Price 2020
The current price of the Binance coin fluctuates around $13.79; the total market capitalization is $2,144,680,816, which makes BNB the 8th most popular digital currency as of December 2019. The circulating supply is 155,536,713 BNB. The daily trading volume is around $171,866,854.
The all-time high of Binance coin, $39.57, was reached not long ago, on June 22, 2019 – outside the most famous bull-run of winter 2017. On the other hand, the all-time low of Binance coin, $0.096109, occurred way back on August 01, 2017. Currently, the estimated ROI (return on investment) of BNB is > 9000%, which means that $100 worth of BNB bought at the time of the Binance coin launch would yield more than $9000 of profit today.
The price history of the Binance coin is remarkably successful. Having entered the market at the price of around $1 in July 2017, BNB only took five months to grow up to $23.45 in January 2018. In line with what happened to the rest of the market after January 2018, BNB fell into a downtrend shortly after. What was different, however, is the extent of the decrease in the price: for BNB, it was not nearly as damaging as for the majority of the cryptocurrencies.
Thanks to the focus on trading, the price of Binance coin benefits from several use cases, which promotes the growth of BNB in price during both market downfalls and bull-trends. A simple example: when the price of a given coin goes down, Binance exchange traders will most likely want to get rid of it. The majority of cryptocurrencies, except for the most popular ones, are only traded in pairs with Tether, Bitcoin, and BNB. Thus, if a large amount of a coin is sold for BNB, the price of the latter grows.
However, it is not that simple: currently, the Binance coin has been in a downtrend for a couple of months. During the gloomy times of the cryptocurrency market, traders prefer to buy large amounts of BNB as a high-liquidity trading tool. Still, BNB exhibits remarkable stability and interesting price dynamics as compared to the rest of the market, and the potential of Binance coin is one of the most prominent on the market.
2019 has been a remarkable year for BNB: the coin has been growing consistently till June when it reached the historical maximum of $35. It only took BNB 5 months to grow from $1 per coin in July 2017 to $23,45 in January 2018.
Although since then, the price has dropped similar to the rest of the market, the overall BNB price potential is impressive. The incentives to use BNB provided by Binance ensure its increasing rate of adoption. Furthermore, the Binance coin is an inherently trading-focused coin, which may actually help it rise during local market downfalls.
According to WalletInvestor, BNB has a growing potential of 85%, which makes it an excellent investment. The price is expected to nearly double by 2020, and an optimistic forecast is $120.5 for a single BNB token by 2025.
What is Binance Coin (BNB)
Binance coin (BNB) is a digital currency launched by the Binance exchange in 2017. The purpose of BNB is to fuel operations within the Binance ecosystem. Some examples include paying for transaction fees, listing fees, and exchange fees, etc. Binance coin can also be used to invest in the ICOs listed on Binance.
The Binance coin is an ERC20 standard coin that runs on Ethereum blockchain; BNB is not mineable, and the issued amount is limited to 200 million tokens. According to Binance coin whitepaper, the platform plans to use around 20% of the profit to repurchase BNB and burn it each quarter, until only 50% of the total BNB supply are left in circulation. This repurchase plan is expected to help the coin maintain its value.
Binance incentivizes users to utilize BNB in several ways: by providing discounts on the exchange’s fees if paid in BNB, as well as by launching a dedicated referral program. Many other companies and exchanges also accept Binance coin as a payment method.
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