Binance Coin Analysis: Updated September 14, 2021

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In the course of our many insights, we have had the opportunity to talk about Binance Coin several times, a unique ecosystem of its kind, which has had the ability to carve out a considerable value within the overall basket of cryptocurrencies. In this regard, what are the analyzes on Binance Coin?

The same cryptocurrency, which in the end represents nothing more than a token with its own value and its own trend, represents a relevant tool for one of the most popular exchanges in the world, ie Binance. From the same goes to take the name, which in turn recalls the close bond.

Although over the last few days the crypto sector has shown numerous changes, especially in reference to some large capitalization instruments, the value of the Binance Coin he continued on his way, showing shares that will be explored in the course of the following paragraphs.

Before continuing, let’s remember how Binance Coin itself, expressed with the abbreviation BNB, is currently listed within numerous professional brokers & exchanges, such as eToro. This is a regulated intermediary in our territory, with numerous interesting features, including Copy Trading to copy strategies of real experts in the sector.

Binance Coin Analysis: Utility Tokens and more

Within any analysis on Binance Coin, as for all other cryptocurrencies, experts and analysts are always looking for technical and fundamental information, in order to try to obtain as much relevant data on the instrument and its performance within the market.

But what are the main aspects that can be associated with Binance Coin? Contrary to many other ecosystems, relatively ends in themselves, within the analysis on Binance Coin it is possible to keep in mind some key points:

  • Strong link with the Binance Exchange: the same represents one of the best known pure exchangers in the world. It not only boasts thousands of registered users, but also a record trading volume.
  • Utility tokens within Binance: always in association with the exchange, Binance Coin (BNB) is relevant for a series of features made available by the exchanger. One of the first utilities, which distinguishes it from other tools, concerns the possibility of obtaining specific discounts on commissions.
  • Birth of the Binance Smart Chain: remaining within the colossal Binance ecosystem, one of the most relevant technologies carried out by the same is precisely Binance Smart Chain, currently considered one of the major alternatives to Ethereum for DeFi projects and constructions.

Points, these just mentioned, which highlight how Binance Coin it cannot simply be considered a cryptocurrency with no usefulness and no concrete purpose within the market. All this in association with a platform, namely Binance, always ready to offer numerous innovations.

As for the value of Binance Coin, despite exceeding $ 600 in the month of May, the cryptocurrency continued to show its up and down trends, resulting in still above $ 400 per unit on 11 September, that is for BNB, as at the time of this writing. , according to the data proposed by the best online exchanges.

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Conclusions

Reconnecting to what is stated in the introduction, like many other historical cryptocurrencies, such as for example Bitcoin, Ethereum or Ripple, also Binance Coin is present on professional and regulated brokers, such as eToro (here for the official page).

The platform made available by the broker is interactive, user friendly and easy to manage. Access to the database allows you to select the crypto tool of their own interest and to proceed with their strategies, also using derivative instruments.

The presence of CFDs, i.e. contracts for difference, allows you to trade on the main cryptocurrencies in the world, without ever becoming physical owners of the same. The operation, in fact, is based only on faithful replicas of the performance of the underlying. It follows, in parallel, the unnecessary presence of storage and custody Wallets.

In addition to this, the very nature of CFDs allows you to implement two different strategies: one upward, in the event of an increase in the asset and one downward, in the opposite case, thanks to the so-called short sale.

What other features to remember about the broker? Following are the most important:

  • Copy Trading: represents an automatic copy system, based on the possibility of copying strategies of the best Popular Investors, obtaining the same transactions in real time;
  • Trial account, at no cost and with no time limit;
  • Graphs in real time, updated moment by moment;
  • Professional assistance at all hours;
  • EToro application, free for all operating systems.

Click here to get a free account on eToro

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