Functionally, BNB is also similar to Ethereum’s gas since it’s used to cover the transaction fees. But in two years, the team introduced the Binance Chain mainnet on its proprietary blockchain (Binance Chain) that led to the transition from the ERC-20 protocol to BEP2, Binance’s own technical standard that, nevertheless, bears a lot of similarities with the original protocol for issuing tokens. The coin was launched in 2017, first as the ERC-20 token created and operated on the Ethereum blockchain. Binance Coin: trending up since the first daysīut before we delve into our comprehensive Binance Coin price prediction, let’s make a quick recap of BNB’s role in the Binance’s ever-growing infrastructure. Therefore, it would be logical to assume that the price of Binance Coin in 20 will depend on whether or not Binance managed to preserve its status as a leading cryptocurrency exchange platform, especially in the face of the rapidly rising sector of decentralized finance (DeFi). This relative dominance over the opposition means that more traders are giving preference to that platform that ultimately creates the persistently high demand for its native token Binance Coin (BNB). Nevertheless, it’s far greater than that of its main rivals, Huobi Global, Coinbase Pro, Kraken, and Bitfinex.
However, thanks to a new metric called the Estimated Real Volume (ERV), we were able to estimate a more realistic volume at $2.7 billion. Since its launch in 2107, Changpeng Zhao and his team have been working ceaselessly to turn the up-and-coming cryptocurrency exchange domiciled in Malta into the largest centralized marketplace with 945 tradable currency pairs, a throughput of 1,4 million orders per second, and the reported average trading volume of $2.8 billion.
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