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Binance Coin expected to rise this year

90 percent of Binance’s employees get a part of their income in BNB. This crypto firm has recently invested $ 200 million (about Rs 1,520 crore) in Forbes
Binance’s utility token Binance Coin (BNB), included in the major cryptocurrency exchanges, is used to pay transaction fees on the Binance Smart Chain (BSC). This coin was created with the goal of creating a decentralized finance-based (DeFi) ecosystem. With this coin, users can pay transaction and trading fees at a lower rate than other tokens. According

to Rohas Nagpal, author of the Future Money Playbook and Chief Blockchain Architect of the Wrapped Asset Project, BSC’s popularity has increased over the past year and this is largely due to Ethereum’s low speed and high cost. It is easier and cheaper to create tokens on BSC. Binance Coin is the fourth largest crypto token in terms of market capitalization. Its market cap is more than $ 64 billion (about Rs 4,87,180 crore). 90 percent of Binance’s employees get a part of their income in BNB. Binance recently invested $ 200 million (about Rs 1,520 crore) in Forbes. Binance Pool accounts for more than 10 percent of the bitcoin mining hash rate. 

Binance Coin was launched in 2017. Initially 20 crore BNB were issued. Binance burns some BNB on a regular basis and will continue to do so until there are only 100 million BNB left. The current circulation of BNB is around 16.5 crores. Crypto traders get a discount for paying transaction fees in BNB on Binance. 

However, Binance is also facing some difficulties. It needs to deal with legal problems in countries like Italy, Japan, Malaysia, Singapore, South Africa, Thailand, UK and US. Its business is also expected to grow rapidly in some countries. It recently got a virtual asset license from the Virtual Asset Regulatory Authority (VARA) for the United Arab Emirates (UAE).Is. If Binance succeeds in resolving its legal problems, the price of BNB could even surpass the previous high of $690.93 by the end of this year.

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