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Tuesday, December 6, 2022

Reasons Why Binance Chain (BNB) Rallied 66%

Binance Chain token currently has possession of a $50 billion market cap and has gone up to 66% since the crypto market faced a downward curve. 

Binance Chain is a major strategic move for Binance. It will allow the cryptocurrency exchange to create its own cryptocurrencies, decentralized exchanges, and other blockchain-based services. Currently, Binance is one of the largest exchanges in terms of daily volume traded and it makes sense that they would want to expand their reach with this new platform.

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Binance Coin (BNB) currently trades at $20 USD per coin, which means that many traders are trying to get in on this opportunity before it’s too late!

Is Binance Chain’s Market Cap And Valuation Justified?

Binance Chain is widely perceived as an attempt to create a decentralized exchange that will allow users to control their own private keys without having to rely on third-party custodians or centralized exchanges like Coinbase or Kraken.

This new system could eliminate some of the problems associated with using traditional exchanges such as hacks (like Mt Gox), lost funds due to technical issues (like Bitfinex), regulatory crackdowns by governments around the world (India), etc.

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In addition, there are also many benefits associated with using Binance Chain for all parties involved: lower transaction fees because there won’t be any middleman taking commission per trade; faster confirmation times since transactions can be confirmed instantly instead of waiting until they clear through congestion caused by high demand; increased privacy since no personal information needs to be shared when making transactions on this platform.;

Despite being the third largest cryptocurrency, BNB’s market cap was $47 billion, while Cardano (ADA) held a $46 billion valuation. At present, no altcoin remotely matches its dominance and the gap has widened by more than $30 billion.

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