Most stable and valuable cryptocurrency we have witnessed in year 2017-18

The cryptocurrency prices move up and down every minute due to many factors that drive the fluctuation. There are a number of factors responsible for these price movements such as the supply and demand of a particular coin which translates to Lesser the number of coins, higher its price levels and vice versa.

Another factor affecting the crypto prices is Market news. Yes, it really impacts a particular coin's performance. Positive or negative news revealing can be a substantial influencer of general market's perceptions and sentiments in regards to a specific coin. Media detailing about a system hack, for instance, is probably going to drive prices down, though, scope about a coin's mass acceptance can bring about the positive market notion that drives a coin's market price upward.

Same happens in the case of Stock Market where the stock prices get affected based on the type of News. But amidst all such factors, there are some company stocks that would never really have a huge fluctuation by just any news rolling out and in crypto space, one such company is Binance.

The progress of Binance over the time

Binance is a cryptocurrency exchange that host crypto-to-crypto trades. The exchange was set up in 2017 and was initially situated in China. However, due to strict cryptocurrency laws in China, the exchange has since moved to Japan, a crypto-friendly nation!

Binance was created by Changpeng Zao, popularly known as CZ. Formerly, CZ used to develop trading software that was used by Tokyo stock exchange, as they had better and fast trading capabilities. This experience of CZ helped him to build Binance, one of the top crypto-exchanges today.

Prior to the launch of exchange, Binance had their fund-raising process Before Binance opened their exchange, they fund-raised through an ICO. This is fundamentally the same as crowdfunding, where individuals can contribute to enabling an organization to begin.

However, an ICO is quite different, as people invest cryptocurrency instead of real-world money. The Binance ICO raised $15 million, and in return, they gave investors their own cryptocurrency token, which is named the Binance Coin (BNB), which is built on the Ethereum blockchain.

Binance has had a very successful start since they were created in 2017 when the actual cryptocurrency boom prevailed. Soon, Binance launched They are now averaging more than $1 billion in daily trades, making them one of the largest exchanges for crypto trading.

Binance was said to be moving with the speed of light. The users were quite impressed with the appealing User Interface of the exchange and easy trading services. In fact, Binance grew so quickly, that in January 2018 they had to suspend new registrations. This was because too many people were trying to open a Binance account.

In one day alone, Binance received over 240,000 new account applications!

Other Ventures of Binance:

They introduced Binance Labs - It is a blockchain technology incubator where the Binance Team focuses on pre-ICO projects and teams. CZ boasts that his team only welcomes projects that have strong credibility, user base, and liquidity.

After that, Binance Info - The Codex of Binance, was also launched and completed.

And recently Binance officially announced to launch its public blockchain - Binance Chain.





The Binance Chain will go live before the end of 2018. Normally, the blockchain network requires gigantic processing power. Therefore, trading on the chain will be expensive and slower when compared to the centralized platform.

As per their website:

"As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community."





Besides, Binance is also working on a digital wallet for storage of clients' assets.

Current Status of Cryptocurrency Market

The cryptocurrency market has been taking a series of setbacks. The cryptocurrency prices have also fallen down hard. For instance, Bitcoin, the most popular cryptocurrency, went from $1,000 at the start of 2017 to over $20,000 by the year-end. Whereas now it has struck down hard back to below $7,000(at the time of writing).

However, a Binance token since its July initial coin offering has soared from about 10 cents to $16 today. Even in this bearish market trend, BNB seems to have maintained its place quite good. Let's see the BNB chart below:

Binance's Next Move:

Just a few days back, Crypto exchange Binance announced their plan to launch the fiat-crypto trading this year. However, Binance.com will continue to remain a crypto-to-crypto exchange and hence, all the crypto-fiat trading will be offered a separate local exchange the company is introducing in Malta.

As per the reports, the first crypto-fiat trade will begin with the euro-Bitcoin pair.

Binance currently supports 120+ coins, working with 100 plus wallets and 240+ trading pairs. CZ added:

"We've received over 5000 applications for coin listings,"

CZ plans to double the size of his existing team to 300 in the next three to six months.

To know more about Binance Coin, visit CoinTopper|BinanceCoin

Let's see what more wonders, Binance brings ahead!! Comment your thoughts below!!



Disclaimer: This article by no means is an investment advice. Readers must do their own research before investing or taking any actions related to cryptocurrencies.