Binance coin (BNB) has been surging all through the year, and is now trading at its all-time highs against Bitcoin (BTC). This is in spite of the entire market being trading sideways all along. Interestingly, in spite of its stellar performance, Binance coin (BNB) attracts love and hate in equal measure. There are those who feel its foundations go against everything that crypto stands for. But for those looking at it from a purely financial perspective, Binance coin (BNB) is the coin to watch. So which side is likely to win? Well, from its price action, it is clear that those in it for the profits are winning. Going forward, Binance coin (BNB) stands a good chance of making it big this year, probably even to a high of $100 or more. Reason? The Binance LaunchPad.
This launch pad has made Binance coin (BNB) pretty much immune to the bear market. That’s because, as long as there are projects launching ICOs through the Binance Launch, the value of BNB will continue to rise. At the moment, the value of BNB is surging due to a project called Celer. The project like all the others coming in through the Binance Launch Pad attracted lots of investor interest due to its potential to pump exponentially. As investors move to invest in this project, they have to first buy Binance coin (BNB) hence the increased positive price action in Binance coin.
After making the profits, they are also selling their tokens for Binance coin (BNB) before moving to them to whatever other cryptos they want. This movement in and out of Celer has seen Binance coins stand out in gains relative to the rest of the market. This is indicative of how things could play out going into the future. If a few other projects launch through the Binance Launch Pad this year, and it maintains this momentum, $100 or more is easily achievable. It’s an interesting way to make money in this sluggish market.
But is the Binance Launch Pad the best thing for crypto? Probably not. That’s because, Binance could end up flooding the market with lots of low-quality tokens that only dilute the value of the market. It’s important to remember that, part of the reasons why the market is where it is at the moment is due to an influx of low-value Ethereum tokens in 2017. These tokens did pump the market for a short while, but the market is in a mess for the same. As such, Binance putting so many pump-and-dump tokens in the market would further hurt the market. In the long run, it could also affect the value of Binance coin as well, and probably drive away public interest in crypto. That’s a catastrophe that no player in this market wants.
Nonetheless, in the short-term, this strategy is working and Binance coin is gaining significantly in value, and could continue gaining all through the year. It’s an interesting future ahead for this crypto and the market in general.