Binance Coin (BNB) is likely to Replace Stablecoins

Binance Coin (BNB) is likely to Replace Stablecoins

binance coin

Stablecoins were originally designed to serve as a safe haven in unpredictable market conditions characterized by negative growth rates. So far, a large chunk of them has failed. The Tether (USDT), which is the most popular Stablecoin recently experienced a dip in price. This a clear sign that Stablecoins might not be as stable as they claim to be. However, in spite of the market’s unrest, one coin which has steadily maintain its growth rate and remained calm so far is the Binance Coin (BNB). This has gained the coin, a unique reputation as an un-song Stablecoin.

Binance Coin (BNB) is the Next Best Thing

It is should, however, be noted that Binance Coin (BNB) has gone through several corrections in recent times. Even with these corrections, the coin has only been down about 33% from its all-time high. Comparing this to that of bitcoin (70%), and Ripple (89%), the coin has performed really good.

The minor price corrections the coin had, further made it a suitable candidate for keeping money in this perilous market conditions. With the report showing that smart money (Institutional investors) believing in the long-term prospects of the crypto markets, now more than ever, coupled with the slipping lack of confidence in Tether (USDT). Binance Coin (BNB) is all set to become the new favorite for parking money during bad times.

Binance Exchange Prospects

Binance Coin (BNB) tokens are currently used on the popular Binance Exchange to pay exchange fees as well as to invest in ICOs that are offered on the platform.

The Binance exchange has also grown into the largest exchange in the world and is showing all indications of a business with plans to last a while. This has further made many investors hold Binance Coin (BNB).

With Tether (USDT) and other supposedly stablecoins experience a destructive sell-off. It has become clear that there isn’t any cryptocurrency out there immune to crashing.