Binance exchange took the market by storm. So did its native digital asset called Binance coin or BNB. In this article, we will cover our own and market’s opinion on BNB future while discussing BNB price forecast for 2019 and beyond.
Since 2019 is almost up, BNB price prediction 2020 is much more interesting so we covered that forecast as well, just scroll down.
Now, let’s begin.
Binance Coin Intro
Before we delve deep into the Binance coin price prediction, let’s quickly throw a glance at what is BNB and its to date history.
Binance exchange was launched much later than it competitors but the team behind charismatic CEO CZ, swept the market and its competitors and won the hears to millions of traders, making it one of the largest and most trusted crypto exchanges today.
The exchange’s revenue model is primarily driven by trading fees with the maximum fee being 0.1% per trade. A variety of discounts are available to the standard 0.1% fee from periodic promotions, volume based discounts, and most notably use of the Binance token (BNB) to pay fees.
Currently, users that pay trading fees with BNB receive a 25% discount, with that number halving each year until it is phased out in 2021. To complement fixed fee trading Binance has been exploring maker-taker trading as another potential option for order execution.
Binance pre-mined a total of 200 million BNB tokens prior to its public launch on July 14, 2017 and they intend to buyback and burn 50% (100 million BNB) of the pre-mine token supply over time resulting in a long-term fixed supply of 100 million tokens once the buyback is complete. Buybacks are scheduled to take place quarterly funded by 20% of Binance’s profits.
Year in Review
Increasing cryptocurrency adoption is one of Binance’s key goals and in 2018, they added no less than 50 partners who have adopted BNB into their ecosystems. The Binance Coin now…