Binance Coin has been in a turmoil because of the seven thousand (7000) Bitcoins heist that the hackers robbed off of the cryptocurrency exchange. The sum was equal to forty million dollars ($40M) in fiat- a big catch from one of the main exchanges.
Binance Coin has not been giving an ear to the talk that has almost died out and has even climbed the 2019 high at thirty-nine dollars ($39.59) after the massive pullout from the Binance cache. It has been four months, and the coin is doing pretty well as if it has almost recovered from the losses.
At the time of writing Binance Coin sits atop the shelf at twenty-two dollars ($22.49) with a market circulation supply amounting to one hundred and fifty-five million (155,536,713) BNB. The twenty-four-hour (24) volume has peaked to two hundred and eleven million ($211,740,781) dollars.
Competitive, resilient, and headstrong
Despite the climb earlier this year, the coin is heading back towards twenty-one dollars ($21). While that is the case, Binance Coin remains the large-cap index’s top performer over the past year. Bitcoin falls short of the Binance Coin which performed nearly double than Bitcoin’s upsurge. Binance got a one hundred and twenty-three (123%) boost in its performance.
The native token to the Biance exchange, Binance Coin, makes it easy for traders to make trades, pay for services, and buy amenities with reduced cost on the grid. Binance Coin thus is the choice of consumers on the Binance exchange. The company also uses surplus earnings to buy back tokens and to burn them as well, thus taking care of deflation by reducing their numbers in circulation. Binance Coin, however, remains the undisputed leader with an average daily volume of one billion dollars ($1.62).
The number increases when a monthly average is calculated. It sums up to forty-two Billion dollars ($42B) indicating that the cryptocurrency has been growing quite popular with the crowd.
The freebies with Binance Coin
Binance CEO Changpeng Zhao was quite happy with the new addition to the long list of services the exchange offers. The recent additions are margin trading and the number of coins that are being given leverage. The Binance DEX TestNet is the other event.
Binance Coin seems to be heading towards a slump around the seventeen dollars ($17) to fifteen dollars ($15) territory. This is a good buying opportunity according to Trader Max, an analyst at Bravado trading who also goes by the name Bitcoin Jack.