Started in 2017, Binance Coin (BNB) has become one of the most controversial altcoin projects. Despite investigations at the parent company, many believe the coin will continue to grow. Experts’ opinions cryptocoin.com compiled for our readers.
Altcoin is not the biggest cryptocurrency, but perhaps the most controversial.
In November, the value of Binance Coin peaked at $649.20, but the price has since plummeted. However, some crypto investors are optimistic about the altcoin’s prospects for this year. Lisa N Edwards, a crypto trader and advisor, states:
This is a short term fix that is always needed to test support and build long term strength. According to people, falling price action is a bad thing. For a professional trader, this is where money is made.
Binance Coin has to weather many storms to maintain its role as one of the leading cryptocurrencies. Any negative result can cause a price drop. Lisa N Edwards has this to say about the altcoin:
Currently, I believe Binance Coin is undervalued for its utility. Compared to Ethereum, it basically does everything ETH does, but with super low transaction costs and a strong development team that continues to develop and implement game-changing new technologies.
“You could argue that it is cheaper to use and more affordable for a large population,” said Patrick McCorry, a blockchain developer and former assistant professor at University College London, noting that privacy is the same issue with all blockchains.
‘Undressing Bitcoin’ author Layah Heilpern, on the other hand, states that it will not change the crypto world, just because it is faster and cheaper, it is another Ethereum competitor. However, Layah Heilpern states that Binance Coin will have a strong future:
Because it’s Binance, it’s not going anywhere. Blockchain will continue to grow and more projects will move from Ethereum to Binance. So the price will increase.
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