Binance Coin (BNB) Is About to Soar, But It Is Still a Long Way to Second Place

Binance Coin (BNB) Is About to Soar, But It Is Still a Long Way to Second Place

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The fast rise in the price of the Binance exchange token BNB brought the coin to third place in terms of capitalization in the Coinmarketcap ranking.

Despite stiff competition from promising projects Cardano (ADA) and Polkadot (DOT), Binance Coin has entrenched in this place with a capitalization of over $43.3 billion, with a lead of almost 20% from pursuers, if not to count the stablecoin Tether (USDT). Binance CEO Changpeng Zhao (CZ) has never hidden his ambitions and promised to bring the token to third place even in times of the BNB ICO. However, now he is clearly aiming for second place, although the gap from ETH is still cosmic: the capitalization of Ethereum is over $203.6 billion.

Two important steps at once in the development of Binance could push BNB to grow in the near future. It is unlikely that it will reach the capitalization of ETH, although BNB hodlers will certainly make money.

First, Binance announced the launch of its own payment system, Binance Pay. The test launch took place in February for exchange clients. A quarter of a million users have confirmed that the system is working. Now the service is available to everyone who is ready to work with cryptocurrency, there are already some such companies. For users, purchases through Binance Pay are beneficial because payments are free of charge.

The second important step, according to market experts, is the invitation of former US Senator from Montana, Democrat Max Baucus, to the position of Advisor. According to the exchange, Baucus will be working on establishing links between the Binance exchange and US regulators, including the SEC. There were some notes in the information space that Binance in the United States is experiencing some difficulties. The exchange did not disclose details, but it is obvious that the emergence of a new advisor can eliminate these difficulties. In addition, Bokus can advise Binance on the possibility of expansion to other regions with complex jurisdictions – so it is said in the official statement.

The press release does not say anything about the possibility of Binance becoming a public company. But analysts are confident that it goes without saying. CZ always supports the most profitable market trends, this is the secret of BNB’s growth. And the trend for crypto exchanges to enter the stock market has already been set. Coinbase has completed its latest round for limited subscribers on NASDAQ Private Market. Coinbase will begin public trading in late March. There is no doubt that Binance will follow the same path with the help of a new advisor.