Does Binance's actions have any effect on BNB

Niyi Briggs

Well Known

Member

Nov 27, 2022

7,835

318

Dex

$0.000

Raw Dex

$0.200

• Feb 6, 2023

• #1

On one hand, it can be argued that Binance's growing presence in the cryptocurrency industry, through its exchange and various other services, has helped increase the use cases and demand for BNB. This in turn could drive up its value. For example, the use of BNB as a means of payment for trading fees on the Binance exchange and its integration with various decentralized finance (DeFi) protocols have added to its utility.

 

flower

Notable

Member

Jan 9, 2023

4,978

86

Dex

$0.004

Raw Dex

$0.001

• Feb 7, 2023

• #2

It is because binance has become credible and that is why BNB has also become credible too.

 

Last edited: Feb 8, 2023

riberet19

Notable

Member

Jan 7, 2023

3,238

347

Dex

$0.000

Raw Dex

$1.050

• Feb 7, 2023

• #3

It is clear that the actions of binance are correlated to how the BNB currency moves, everything Binance does will affect its currency, surely BNB would not be where it is if Binance were not the most popular cryptocurrency exchange.

 

flower

Notable

Member

Jan 9, 2023

4,978

86

Dex

$0.004

Raw Dex

$0.001

• Feb 8, 2023

• #4

The activities of binance will affect the market price of BNB in all ramifications because they strength of binance is attached to this cryptocurrency.

 

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Feb 9, 2023

• #5

The growth of BNB closely tied to the performance of Binance and if there is any issues in Binance, it is definitely going to affect the BNB.

 

flower

Notable

Member

Jan 9, 2023

4,978

86

Dex

$0.004

Raw Dex

$0.001

• Feb 17, 2023

• #6

The earlier we understand that Binance is extremely attached to the BNB's performance the better because the activities of Binance has a strong effect on the promotion of the BNB.

 

Reedex

Well Known

Member

Jan 8, 2023

6,801

104

Dex

$0.002

Raw Dex

$0.001

• Feb 17, 2023

• #7

Binance is the foremost cryptocurrency exchange in the world and because this particular cryptocurrency is developing then the BNB will also develop following suit. It is the native token of Binance.

 

G

gammarays

Notable

Member

Sep 15, 2022

1,638

138

Dex

$0.000

Raw Dex

$0.000

• Mar 6, 2023

• #8

Yes binance actions do have an effect on BNB. The latest issue with binance and sec as well as Paxos and SEC affected the BNB token seriously making it to dip in value.

 

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Mar 13, 2023

• #9

gammarays said:

Yes binance actions do have an effect on BNB. The latest issue with binance and sec as well as Paxos and SEC affected the BNB token seriously making it to dip in value.

Click to expand...

If binance is growing, automatically it is going to affect the BNB positively and it could be otherwise.

 

Reedex

Well Known

Member

Jan 8, 2023

6,801

104

Dex

$0.002

Raw Dex

$0.001

• Mar 17, 2023

• #10

Has binance grow, the BNB grow accordingly as well because they are attached to each other.

 

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Mar 17, 2023

• #11

lens said:

Has binance grow, the BNB grow accordingly as well because they are attached to each other.

Click to expand...

This is because the BNB is a native token of binance and the growth of binance will definitely translate to its growth.

 

S

Stardom22

Very Familiar

Member

Sep 1, 2022

13,304

565

Dex

$5.300

Raw Dex

$0.018

• Sep 11, 2024

• #12

For me l think that the Binance has a very high hand it's native coin BNG

 

Niyi Briggs

Well Known

Member

Nov 27, 2022

7,835

318

Dex

$0.000

Raw Dex

$0.200

• Sep 11, 2024

• Thread starter
• #13

As Binance is growing in value, it is just natural that BNB which they sponsor would also grow because people would have more confidence in it.