Binance BNB/USD is one of the largest cryptocurrency exchanges in terms of the daily trading volume of cryptocurrencies.
BNB is the native cryptocurrency token issued by the exchange and allows users to pay for transactions and trading fees at a lower rate.
The $1 billion adoption boost fund as a catalyst for growth
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
Binance launched a $1 billion growth fund.
Binance claims that it is the biggest funding product of its kind so far within the world of crypto.
The goal of this fund is to increase the adoption of the Binance Smart Chain as well as the entirety of the cryptocurrency industry. On Tuesday, October 12, Binance announced the fund.
The Binance Samrat Chain mainnet launched in September of 2020, and at the time, the company announced a $100 million BSC Accelerator Fund to support the building of decentralized applications (dApps).
The new $1 billion funds are divided into four categories. $100 million for talent development, $100 million for the liquidity incentive program, $300 million for the builder program, and $500 million for the investment and incubator program.
Should you buy Binance Coin (BNB)?
On October 13, Binance Coin (BNB) had a value of $462.6.
To get a better perspective of what kind of value point this is for the token, we will be going over it’s all-time high value as well as its performance in September.
In terms of its all-time high value, it was achieved on May 10 when the token had a value of $686.31.
When we compare it to the value on October 13, we can see that the token was $223.71 higher in value or by 48% at its all-time high.
That said, in terms of September’s performance, on September 6, the token had a high value of $506.72, while it had its lowest point on September 26 when the token was at just $325.2.
This gives us an indication that the token fell in value by $181.52 or saw a decrease of 35%.
With all of this said, we can expect the BNB token to increase its value to $494 by the end of October, making it a solid purchase.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: