The limelight in the current quarter has been on Tron (TRX). However, when you look at the performance of these cryptocurrencies in the current quarter, you will realize that there are a handful of options which have risen more than Tron (TRX). When looking for the best cryptocurrency performer this quarter, the limelight goes to Binance coin (BNB). It has risen more than Tron (TRX) and various other cryptocurrencies.
Binance coin (BNB) is the best cryptocurrency performer this quarter:
On 1st of January, 2019 Binance coin (BNB) was trading around $ 6.19. Today, it is trading around $ 10.49. In a matter of just 51 days, it is risen by approximately 69%. It clearly indicates that it has outstripped Tron (TRX) and various other cryptocurrencies when it comes to gains. Litecoin (LTC) is another close contender when it comes to the best cryptocurrency this quarter. It is risen by 64%. EOS, on the other hand has risen by 47%. When you look at the performance of Tron (TRX), it is risen by around 33%. That is why, Tron (TRX) might be hogging the limelight due to its fundamental improvements but the price movement of Binance coin (BNB) makes it the best cryptocurrency performer this quarter.
Whats working for Binance Coin (BNB)?
If you haven’t studied the fundamentals of Binance coin (BNB), you might be wondering what exactly is working for Binance coin (BNB). There are quite a few things which seem to be working for Binance coin. We will go into the details of these below.
More traction for the cryptocurrency exchange:
As we mentioned above, the fate of Binance coin (BNB) is directly linked to the Binance cryptocurrency exchange. Since its launch in 2017, Binance cryptocurrency exchange has become more and more popular. It is one of the biggest cryptocurrency exchanges in the world. That is why, Binance coin (BNB) has mimicked its fortunes.
Binance coin (BNB) is looking to launch a decentralized exchange. The advantage of this decentralized exchange is that transactions can take place quickly and also the over-dependence on a certain platform will decrease significantly. It is one of the main reasons why investors are investing in Binance coin (BNB). If the decentralized exchange is indeed a success, Binance coin (BNB) might increase even more.
Are there any risks going ahead?
There are a few risks as well. If the lackluster cryptocurrency prices to not pick up soon, the volumes in the cryptocurrencies will start to decrease. It will impact of the cryptocurrency exchanges like Binance. That is why, the bear market is one of the main risks which you are facing when you’re investing in Binance coin (BNB).
Another risk which the Binance rather than specifically Binance coin (BNB) is facing is that the competition in the cryptocurrency space is increasing. The number of cryptocurrency exchanges are higher than ever. That is why, the increased competition is another challenge for Binance coin (BNB).
Thus, if looking for the best performers of the current quarter, Binance coin (BNB) certainly takes the mantle of the best cryptocurrency performer with 69% gains.