The entire crypto market moves in the last few days sideways and place to initiate is no way to reverse the trend. Nevertheless, the Binance Coin launched yesterday a short rally, after the Binance announced to double the Referral Bonus and in order to provide a strong incentive for all Binance Coin holder.
After the crypto market increased on the 06.05.2018 a market capitalisation of 470 billion dollars, and the Bitcoin exchange rate constant, and the $ 10,000 mark ante, was the hope of a breakout above this limit. However, a correction, to this day, nearly 95 billion dollars from the market are gone, followed a short time later.
Duck against the current market trend trumps the Binance Coin on and recorded a growth in the Price of 23,74% in the last 24h. The price moved in the last 7 days within the limits of 12.25 dollars and 13 dollars, rose yesterday, however, suddenly, on a 7-day high of 15,59 dollars.
The reason for this probably lies in the announcement of Binance the referral bonus, for new users, by existing users, doubling from 20% to 40%.
Binance operates, similar to that of other large exchanges such as Bitfinex or Bittrex, an affiliate program with which users can earn money, if this will ensure that new users register with Binance and the platform. The reward was previously at 20%, but has been raised now.
Enjoy the benefits of increased Commission only those users who hold at least 500 Binance Coins, and in order for this requirement to qualify, however. This condition is likely to benefit many investors to encourage their Portfolio with Binance Coins to increase the increased fee and Commission permanently.
The Binance Coin is the platform for their own crypto-currency of Binance, by the users of a whole range of benefits. A reduction of the transaction include fees if these are paid with the Binance Coin when trading on the platform (in the first year of Use reduced by 50% in the second year 25 %, third 12.5 %, in the fourth to 6.75 % and from the fifth year, no discount will be granted).
Continue to Binance regularly conducts a Coin Burn that reduces the circulating amount of the Binance Coins. The last “burning” was held in mid-April and destroyed 2.220.314 Binance Coin. By this artificial reduction Binance wants to involve its users in the long term, the success of the company.
A special importance should be given to the Binance Coin within the decentralised stock exchange, the developed Binance. As we already reported, works Binance for several months on the development of a decentralised stock exchange, the support of the Binance Ecosystem in the long term and the platform Binance to relieve. Which function do you want the Binance Coin, however, in Detail, is so far still unknown.
The reasons listed are, however, no guarantee for a continuing increase in price, since both the referral program as well as the actual use of the Kryptwährung can change quickly. Nevertheless, the Binance Coin is a crypto currency you should keep in mind.
The next few days and weeks will show in which direction the development goes. The prices of other Altcoins can be checked in our course overview.
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