From time to time, different cryptocurrency exchanges have contributed to the cryptocurrency sector with their input with innovation. Such input and contribution have helped cryptocurrency exchanges earn a lot more reputation than their competitors.
When it comes to delivering the best in the cryptocurrency sector, there is no other cryptocurrency exchange that has done it better than Binance. Binance is currently the largest cryptocurrency exchange in the crypto-verse and it has held this rank for several years.
As Binance launched back in 2017, it didn’t just launch its exchange services, but also introduced its native token “Binance Coin – BNB”. However, as the entire cryptocurrency sector was struggling at that time, BNB also had to wait for the situation to become favorable for it to blossom.
That is when the year 2021 began and BNB showed its true potential. Since the beginning of 2021, Binance has reportedly grown by 1515.86%. It was back on May 10, 2021, when BNB hit its all-time high of $690.93 per BNB.
At the time of writing, Binance Coin’s market valuation is $102.23 billion and its unit price is $612.90, which also reflects on its high highs. Still, the analysts and major data analyzing firms such as TradingView and CoinMarketCap predict that BNB can do a lot better.
As the crypto-sector continued growing bigger by the end of 2020, Ethereum started facing pressure due to high volumes. Therefore, it realized that it was time to introduce its launch blockchain that was the Binance Smart Chain (BSC).
The BSC at present is among the largest and most of the new cryptocurrencies are being launched through the particular network. This helped Binance earn a lot of value and prominence in the crypto-sector, helping BNB gain its price and valuation.
Later, in mid of April, Binance announced that it was going to go for a public listing. Coinbase, the largest cryptocurrency exchange had also announced that it would go public, which it did on April 14, 2021. Unfortunately, Binance wasn’t able to do it because it ended up getting into a scuffle with the US Securities and Exchange Commission.
However, the US regulatory action wasn’t the only damage the exchange was bound to take. It soon ended up facing a ban in the UK, Malaysia, Thailand, and Japan. In other countries such as Hong Kong, Singapore, and Australia, the exchange had to discontinue some of its services in order to make it out of regulatory scrutiny.
After all the hampering it went through, dragging the price of its cryptocurrency, the exchange has now started regaining its reputation. According to the graph and growth factor predicted by TradingView and keeping the exchange’s “retention” factor into consideration, BNB will soon experience a growth in its price.