Most of the cryptocurrencies have been rising in recent times. There are however a few which are rising from the very start of this year. One such cryptocurrency is Binance coin (BNB). At the beginning of the year, it was trading around $ 6.19. Currently, it is trading around $ 28. It indicates that 2019 has been a great year for Binance coin (BNB). It is one of the best cryptocurrency performers for the year. The question which remains is whether can participate in the current rally as well. If it can participate in the current rally, how high can it go?
Can Binance coin rise more after rising 352% YTD?
The revival of cryptocurrency exchanges:
Binance is already working on creating a decentralized exchange. The trials for the same are currently on as well. It means that there is a new hope of growth for the cryptocurrency exchange. In anticipation of the decentralized exchanges well, Binance coin (BNB) is consistently rising as well.
How high can it go?
You need to understand that after a rally of 352%, it can indeed take a breather. However, in most of the cryptocurrency exchanges, the volumes have increased more than threefold. It means that profits have also increased more than threefold. The fact that the cryptocurrency prices are always ahead of their times, Binance coin (BNB) can rise even more. While it might be very risky for you to invest at these levels, but that does not mean that there is no potential in Binance coin. The revival of the cryptocurrencies will once again lead to the revival of the cryptocurrency exchanges which can propel Binance coin (BNB) even higher.