The independent cryptocurrency rating agency, Weiss recently commented that Binance Coin’s (BNB) strength, unusually for any crypto lies in its centralised nature. Due to Binance’s ongoing mission to stay as the top crpyto exchange and push the bounadaries as to what the offer, the token continues to find new use cases.
Since the December lows in the $4 region, BNB was one of the only coins in the entire market to produce new all-time highs. The Binance team have seen their DEX platfom go live, introduced margin trading and recently announced a new “premium” OTC service. Even in the light of the well publicised hack in May this year, the manner in which CEO Changpeng Zhao steered the ship, was only seen as a positive.
Weiss explained in a recent tweet that the strength of the token lies in the company’s centralised control naure:
Because #BNB is centralized, its creators are constantly creating new use cases for it, which increases its market cap and keeps the asset going. BNB is successful BECAUSE it’s centralized. Interesting.#BinanceCoin #BTC #Altcoins #crypto #cryptocurrency
— Weiss Ratings (@WeissRatings) July 25, 2019
Binance will also be releasing a US-specific exhange in light of the change in regulations. With the exchange enabling direct debit and credit card deposits, and also BNB now being accepted for payment in select retailers, it does not look like the Binance operation will be losing any steam any time soon.
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