BNB is the native token of a leading cryptocurrency exchange – Binance. It is one of the very few exchange tokens which has a lot of use cases.
Binance has been continuously developing its smart chain BSC – Binance Smart Chain. It has provided a platform for a lot of upcoming projects. The rising demand for Binance products could start reflecting positively in BNB price.
BNB provides a wide array of staking options with fixed and variable interest rates ranging from 4% to 7%.
Binance provides an opportunity to investors to invest in carefully vetted projects via their Launchpad platform. Users are allotted new coins based on their BNB balance.
Users can stake BNB to earn new tokens via Binance Launchpool.
Binance Smart Chain
BSC provides a development platform for many upcoming DeFi projects. Users can provide liquidity for these coins to earn trading fee by locking BNB along with the newly developed coins with BNB.
Trading Fee Rebate
When users hold BNB, they get a discount on trading fee. Depending on their BNB balance, users get an option to set their trading fee and earn commission by referring new users.
Due to all of these use cases of BNB, it is bound to start affecting BNB price. Let us review the BNB chart to look at possible targets for BNB.
BNB/USD – Price Prediction
BNB is currently trading close to a support of $253. As long as it is above this support area, we could start seeing a move towards $302, $358, $383, $419, $464, $594 and $806. Failure to hold the support at $253 could lead to a drop below $200 which would be an excellent place to long BNB.
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