Binance Tops Bitcoin, Ethereum & XRP In Growth With 9000% ROI On BNB
The largest cryptocurrency exchange Binance which has also been reported as one of the ten exchanges that have real crypto trading volume has come a long way since it was launched just back in July 2017.
Binance Coin (BNB) the native token of the crypto trading platform is also riding the success of Binance as it outperforms the top cryptocurrencies viz. Bitcoin (BTC), Ethereum (ETH) and XRP by a huge margin, when it comes to return on investments.
The 7th largest cryptocurrency by market cap of $2.7 billion has been trading at $19.56 with 24-hours gains of 0.97 percent, as per Coinmarketcap data.
After hitting $4.73 in mid-December in tandem with Bitcoin and rest of the crypto market, since then BNB has been going only upwards. When it comes to YTD gains, Binance Coin is the top gainer as per Messari’s OnChainFX data with 230 percent returns. Currently, BNB is down just 13 percent from its all-time high (ATH) at $22.
BNB price chart, Source: Coinmarketcap
After Bitcoin and Ethereum, Binance Coin has the highest amount of real 24-hours trading volume at $73 million.
BNB Outperforms BTC, ETH, & XRP
In the first quarter, BNB actually started surging even before Bitcoin started seeing green. Typically, the crypto market follows the flagship cryptocurrency in both up and down direction. However, Binance Coin decoupled from BTC this time and made its own way upwards while the leading cryptocurrency took time to turn green.
This BNB’s rise before BTC as acknowledge by Binance in its report stated, this means, “fewer BNB were spent on trading fees by our users, resulting in lower revenue in BNB.”
According to the stats provided by Coinmarketcap, the return on investment (ROI) of Binance Coin is much more than BTC and ETH. The approximate return on investment if purchased at the time of launch (or earliest known price) as per CMC on BNB is more than 9,000% in comparison to the ROI of Bitcoin that is about 3,765% and 5778% of Ethereum and 5,440% of XRP.
BNB Going At A Fast Pace
The fact that Binance Coin (BNB) plays an integral role on the Binance platform and its other initiative and projects such as Binance Chain, Binance DEX and so on works strongly in favor of BNB. Moreover, BNB adoption is also rising with each passing day in the mainstream world just like other cryptocurrencies.
The frequent coin burns are also pushing the value of BNB up by decreasing its supply. Just recently, Binance conducted its 7th burn for the first quarter of 2019. This time, the exchange burned 829,888 BNB that values at more than $15.5 billion, however, these are about half of what was burned last quarter as reported by Binance management.
Given the fact that the value of BNB has about “tripled” in these last three months, the team points out the burning rate will become slower as the price rises, “assuming all other (factors remain) constant.”
Reportedly, Binance has generated a profit of more than $78 billion in the first quarter of 2019 which is up about 66 percent from the first quarter of 2018.