Binance Coin, a widely-used utility token issued by Binance, was one of the best performing cryptocurrencies of 2019.
During the first three months of 2019, Binance Coin was arguably the best performing cryptocurrency.
Notably, the performance of Binance Coin is almost a perfect mirror of BTC's performance, with a greater positive beta relative to BTC. For example, if BTC goes up 2 percent then BNB may go up 4 percent.
Over the last week, Bitcoin is up 25.2 percent while Binance Coin is up 10.6 percent.
"Don't Short Cryptocurrencies-Except For BNB". Tomaino, a former Coinbase employee, believes shorting cryptocurrencies is a "Losing game." However, he argued that Binance's only succeeded because of its business model of "Regulatory arbitrage" and its "Minimal" know-your-customer requirements.
If I had to short a cryptocurrency right now, it would be Binance Coin.
Tomaino concluded his arguments by suggesting that BNB holders are loyal to the financial upside, not Binance, which takes away from the value of BNB:.Finally, from what I can tell the community of Binance Coin holders doesn't stand for much beyond making money.
Most Asian exchanges, compliant or not, are doing what Binance is doing: aggressively listing new assets with minimal KYC, such as Huobi, KuCoin, Upbit https://t.
Elaborating further on Binance's business model, Wan argues Binance is not a single, vulnerable, company waiting to get "Shut down." Its operations are divided into many different subsidiaries including Binance Academy, Binance Info, and Binance Launchpad, among others.
Binance is the top performing cryptocurrency exchange in the world and those holding BNB may be able to share in the success.
Experts argue on whether to go short or long on Binance Coin
Published on Apr 7, 2019
by Cryptoslate | Published on Coinage
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