Binance's BNB Token Is Rising at a Fast Pace, Reigniting the Possibility of the Asset Testing the ATH Zone of $710.46 Before the End of the Year

After a period of consolidation and even stagnation for the fourth largest currency in the world, the native crypto coin of the world's biggest crypto exchange now appears to be on the rise.

Binance’s native token BNB is seeing a fast rise. After a period of consolidation and even stagnation for the fourth largest currency in the world, the native crypto coin of the world’s biggest crypto exchange now appears to be on the up and up. It gained 4% in value over 7 hours.

On top of that, the entire Binance ecosystem seems to be gaining strength as new projects such as Bitnance are ready to enter the market to function as BNB-Chain’s go-to store of value crypto.

From the 5th of August to the 23rd of that month, BNB gained over 27% in value, making the asset one of the most valuable to hold among the top 10 cryptocurrencies. At the time, a positive proof of reserve report showcasing a net inflow of $3.27 billion to the platform made the market extremely optimistic regarding its native token.

After seeing a 12% correction, BNB refused to fall below the $502.00 margin on September 1st, and 24 hours later the asset is still on the rise. Over the past 10 hours, BNB went from $502.37 to $522.64–gaining nearly 4% in value.

This positive turn of events for Binance reignites the possibility of the asset testing the ATH (all-time high) zone of $710.46 before the year ends.

Bitnance Coming To Binance Chain

Adding to the anticipation of a renowned and prosperous Binance ecosystem, the inclusion of Bitnance ($BTN) to the blockchain could be a welcoming addition. The project, currently on presale (see here), aims to enter the network as a solid option for deflationary store-of-value currencies.

The new project was inspired by Bitcoin’s role as a digital store of value (SOV). However, while Bitcoin’s strength as an SOV lies in its scarcity, the project takes this concept even further.

The world’s largest currency by market capitalization has a total maximum supply of 21 million tokens. Meanwhile, BTN is two times scarcer, with a total supply of 10.5 million.

Over the years, scarcity became the driving force in making owning one single BTC token increasingly costlier. As Bitnance debuts, expectations are that this scarcity will fuel a strong value increase as more users get in touch with the token.

Currently, the token is being sold for $0.35 per token. However, once the currency arrives on public exchanges on December 5th, its buying value is set to be at $0.456.

Why Bitnance Could Become One Of BSC’s Most Profitable Cryptocurrencies

The scarcity when paired with the utility it brings to the Binance Chain is unparalleled. Once the token is introduced to the 160 million users on the platform, Bitnance could save users up to 80% on trading fees as it would have a similar ability to retain value as Bitcoin.

Investors usually tend to keep their unused currencies in Bitcoin, as it is often seen as the most reliable currency to safeguard their investments. But doing so would mean Binance Chain users would have to pay cross-chain gas fees to transfer their funds to BTC.

By having a reliable SOV native of the network, BTN could lower the average trading fee costs from $32.00 to just $2.00 per transaction. This utility, when paired with the scarcity-driven motive of Bitnance could make the new asset one of the fastest-growing cryptos of the next year.

In a scenario where Bitnance debuts and has a similar performance as Bitcoin in its earlier years, we would be talking of a 900% growth during its first 365 days. If the asset reaches the insignificant value of just $8.00 per token, early investors would be making over 1600% returns on their initial investment.

On top of that, the possibility of the Binance ETF gaining ground would mean that a rapid influx of billions of dollars would go to BNB, and a large sum of that money would need to be safeguarded in a deflationary and scarce store of value cryptocurrency.