In recent time, the level of volatility in the cryptocurrency market has made it impossible for investors to actually know the right coins to invest in. This is also due to the market correction of 2018 and failed predictions. Binance coin (BNB) was not excepted as it reduced by more than 80% in the previous year.
However, the present crypto market performance shows that the coin could be heading to the moon for the following reasons:
1) Application of Binance launchpad: Binance launchpad is one of the major arms of Binance like Binance exchange and Binance Charity Foundation. However, the first major use of the Binance launchpad took place last month after Binance in partnership with Tron announced that the BitTorrent token will be launched on the platform.
After the launch of the BitTorrent token initial coin offering, which sold out in 15 minutes. Each token that was launched with Binance launchpad automatically gains listed in Binance exchange, where Binance coin is used to pay for transaction fees at a lower cost.
2) Rise in the knowledge of initial exchange offering: some exchanges like Binance, Huobi, and COSS have their exchange coins. Presently, there is a rise in the knowledge of initial exchange offerings which could make the pioneering coins in the market to be highly sorted for.
3) The bullishness of the market: considering the price of top coins by the beginning of December 2018 and now, we could say that the BNB market is bullish.
Most of the predictions show that the market will be bullish which gives Binance coin the opportunity to improve in price, although it is the best gainer among the top 15 coins in market capitalization. At the time of writing, BNB is trading at $7.85 with a 24 hours increase by 3.35%.