Crypto influencer and trader Quentin, in his new YouTube video, dives into what’s in store for Binance coin. He tells his 109K subscribers, Binance is back again in #3 on the charts with a market cap of $42B followed by Tether and Cardano.
With being at just $45 at the end of January, at the end of March, it is now at $274.15, documenting an insane price growth.
Top Reasons Behind Binance’s Price Surge
Highest Exchange Volume
The first one being, it is now the largest Dex, all thanks to high gas fees on Ethereum. It is topping the charts on various metrics. In the spot volume, it has a trading volume of $21Billion, and in the derivatives exchange, it’s on top with a $40Billion volume.
The trader says this great volume will pave the way to burn more coins, making them scarce and spiking the prices.
The BSC Ecosystem is on a Roll
He further notes, the Binance Smart Chain ecosystem is flourishing quickly. This is because there are many projects on the blockchain like Chainlink, Oracle’s partnership, Anchor, stablecoins, and DeFi – NFT projects. One of them is Pancakeswap, the biggest Dex currently.
Moving further, he highlights that the amount of daily transactions done of BSC is 2.6 Million, whereas it is just 1.2 Million transactions on Ethereum.
15th Coin Burn – the Biggest burn?
The analyst says that the BNB coin burn is just around the corner and this time it is going to be the biggest burn of all time considering the increased volume.
He further says, this time the number of BNB coins burnt will be lesser than the last 14 days because since then the prices have increased massively.
“There is like a real anticipation on this event and we still early talking about this so I think this could trigger the next surge”.
Lastly, he gives an insight on the BNB chart, the chart is clearly a bullish one, the prices will further breakout into an upward trend. He says if the break out turns good, by the end of April the price should be $460.