BNB Overtakes XRP
Hello to Hive Fam,
The bitcoin price is good, and it has created another all-time high for this, which is 125k US dollars. BNB is on fire this time, and it has reached its all-time high price. I was late to join the party because when I invested in BNB, its price was around $500, showing my investment is profitable on this coin. However, people who invested in BNB earlier must be pleased.
In the crypto market, it's all about patience and choosing the right project. This kind of price appreciation did not happen in one month or one year, and it has taken many years, so people who invested and kept on holding for the long term are rewarded now, so if they book a profit in the current price, they are going to book amazing returns. If the price goes even higher, it can be even more profitable for them.
Now the PNB coin has overtaken the XRP coin in the market cap, and BNB is not the third-ranked crypto coin in the market. Now the BNB coin has a market cap of $182 billion, placing it behind only Bitcoin and Ethereum in the global crypto market.
Below is the snapshot where you can see that BNB is sitting on rank 3 and XRP is on rank 5, where in between you can see USDT, which is a stable coin, so it does not matter for this coin. Generally top 10 coins are very strong based on the fundamentals, so it is a good choice to invest in them because they're here probably because they've got a bigger community invested in the project.
You can also see Doge coin in the list if I talk about the top 10 but it's a meme coin however we cannot ignore the reality that a lot of people have invested on this coin just because the Tesla founder talked about it and if it can carry its market cap even now when the old market is not doing great So we cannot underestimate the potential this coin has in future. Maybe it is waiting for another hype in the market when its price will grow, that I cannot say, but if it is part of the top 10 listing in the market, then it is clear that its community is strong.
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BNB is a strong coin by its fundamentals, and the reason why it is popular because it is a highly used BSC chain, and as we all know that for all the transactions, some amount of BNB is used, which is minimal, but it is being used, and the adoption for the BSC chain is very high. It is a growing chain, so with growth, you can expect more demand for the BNB coin, and with more demand, the prices are going to rise, which I believe has happened with the BNB coin this time. Thank you!
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Image Courtesy: CoinGecko website
Posted Using INLEO
I held BNB for about 3 years and it did me good. I've sold it for a nice profit as it reached new ATH as opposed to how the alt market performed in general. My strategy is to buy back in the bear market...
It's nice that you got some good profit on BNB and buying back in bear market sounds like a good idea
BNB has great potential; it can go up more when the market gets stable
BNB is strong coin in the market.
Your point on BNB’s chain usage creating real demand is spot on. Tiny gas fees look small but at scale they add up faster than my coffee budget :) In accounting terms, steady utility is what gives a coin fu;ndamentals, which is why BNB sitting behind only Bitcoin and Ether makes sense to me while USDT is just cash. It’s definately not risk free and its a cleaner story than pure meme flows.
Absolutely it's a strong coin in the market and now just after bitcoin and ethereum and usdt we can ignore as it's a stable.
Do you think it's still good time to invest on BNB?
Not a US coin and at this point is really richly valued... I would say there are better altcoins to buy at this point...
I think that BNB is at high price now and these days I see a lot of talk about Aster coin. Any idea about it ?
correct, patience and good information are key
Patience is the key with investment
I was hesitant to invest in BNB a long time ago, and now I regret it. In my opinion, it's one of the few coins that has performed best over the last year or two. I'm not counting shitcoins, some of which go up 10x in a day and then fall back down. Is it still investable? I don't know, maybe I'll think about it after it pulls back a bit.
BNB has the potential but now it's price is on peak so may not be a good time to invest now. Waiting for some correction can be a good idea. I invested when it less than 600.
So the investment has already doubled. That's great news. I hope Hive at least breaks the 50-cent barrier in the altcoin rally. I've started lowering my expectations 😂
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