More than just having an impressive run this year is the fact that the Binance coin has gathered a lot of momentum over time. It is with consideration of this growth that one can analyze a possible future of the coin, one that, in this case, is more promising than any other downside that may occur in the process.
Performance so far
A quick look at the previous performance rate of the Binance coin from the beginning of this year till present reflects a coin that has now been largely more adapted than it was a year ago.
More precisely, factors such as market capitalization, trading volume and trading price all reveal that BNB has attained a more stable ground with an unmatched increase that has consistently placed the once struggling coin in between other best performing altcoins, most of which are now beneath BNB. This impressive progress, when considered births the possibility that two significant events, in terms of growth and stability are likely to take place in the near future.
A good possibility of hitting the $60 – $100 mark
A very significant milestone for the BNB coin which is currently trading at $16 at press time would be a breakout in trading price and in this case, a breakout to three figures ($100 upwards) is presenting itself futuristically possible.
While this is a big “if” for BNB which has only begun nearing the $20 since after January 2018, BNB’s upsurge in trading volume between January till present has increased by over 30%. As at January, BNB had struggled with a trading volume within the $20 million range. The case at present is an impressive representation of an increased trading volume with more than $130 million runs.
During the last two months, as trading volume surged, BNB’s price simultaneously went from $6 to its current $16 mark. With the pattern of the previous months, BNB is soon to hit $20. If the very same pattern or anything similar in the context of stability and volume is maintained, BNB has a good percentage of closing at a price between $60 to $100 at the end of 2019.
A prospective (XRP) opponent
Consequently, as with every other cryptocurrency, an upsurge in volume invariably affects the coin’s market cap. This would put BNB a few more steps ahead of its closest rival, which in this case happens to be BCH, EOS, and LTC, all of which have a market cap lesser than $2 billion against BNB.
If stability is considered, BNB stands a rather flexible chance of catching up with all three cryptocurrencies. Suppose this happens, BNB will be seated at the 4th spot, right below XRP with which it would have to contend against for the third spot. While this analysis is speculation with reference to BNB’s recent performances, there’s no denying that the coin has the potential to surpass the “altcoin” category.