BNB, Why Is Binance Crypto So Interesting?

In the broad and multifaceted landscape of tokenomics, the token-based economy based on cryptocurrencies, currencies issued by the most prominent and, thus, popular exchanges are also appearing with increasing conviction. Amongst these, a prominent position is occupied by BNB, as it is backed by the infrastructure of Binance, the world's leading provider of exchange services.

BNB and its Future Prospects

Of the assets founded by exchanges, BNB is, without a shadow of a doubt, the most representative. The currency has a life of its own but, indirectly, cannot but remain tied to the performance of Binance. The exchange has often been given as being in serious trouble (when not actually in critical condition, for reasons that are frankly difficult to understand and certainly too hasty) but continues to prove solid and reliable.

The reasons for potential weakness in the world's leading exchange are more than one. The first is the uncertain outcome of the lawsuit against the SEC, the US commission that regulates the entry of securities on Wall Street indices and ensures that those who issue them operate in a manner consistent with federal financial laws, for which the exchange has settled but which has not yet closed. It is very difficult, as of today, to predict when (and how) this matter will be closed.

In fact, what has just been written is only partially bad news, since it is recent news that Ripple's victory against the SEC, which gave new impetus to the cryptocurrency and the entire sector. If Binance succeeds in similarly triumphing, BNB could only benefit from the exchange's momentum.

BNB-Based ETFs are a Possibility

The main driver of a cryptocurrency in mid-2024 seems to be ETFs (exchange traded funds) that can be bought and resold on the exchange. Those linked to Bitcoin have already been tradable for months, those based on Ethereum have been indexed for a few weeks, and the preparatory process necessary for listing for Solana has just begun. Such a process is still a long way off for BNB, and perhaps far-fetched, but who knows, maybe the situation will change in the near future.

Binance remains the Fulcrum of Everything

BNB's attractiveness is due precisely to Binance's name and the numerous activities that the exchange organises to spread its token. Think of the many promotional launches and airdrops that the site has already organised and, we can bet, will organise again in the coming weeks and months. Binance intelligently forces (in marketing terms) the demand for BNB, making it a tool for numerous activities related to the service it offers.

It is therefore to be expected that this currency will continue to perform well, in the future, as no serious selloff in Binance is expected. Short- and medium-term results are deeply connected to the data concerning the exchange, its growth and its decline, which is now rather unlikely. In the long term, on the other hand, Binance's performance may be less relevant and BNB may acquire a life of its own. It is still too early to say for sure.

BNB and Binance after the FTX Crack

The cryptocurrency crisis cycle that began in 2022 has not yet been completely resolved. Proof of this is the fact that numerous exchanges (including Binance) have not yet fully absorbed the blow. The more structured of these services have, however, taken the blow well, thanks to the redistribution of customers left orphaned after that hard blow. Many of these have chosen Bybit, which has been very good at attracting them to itself with targeted promotions, but there are also those who have preferred Binance, precisely because of its historical solidity.

BBNB therefore remains a cryptocurrency to keep an eye on, as it could grow significantly. If you want to keep up to date, or updated, on this and other relevant stories related to the Web3 and cryptocurrency world, all you have to do is subscribe to the SpazioCrypto newsletter.