When it comes to determining the performance of cryptocurrencies, Bitcoin is always miles ahead of the rest. That is, until this year, as Binance Coin has had a pretty decent year as well.
Competing with the world’s leading cryptocurrecy is no easy feat, even under the best of circumstances.
The Success of Binance Coin
Most of the altcoins have lost value, even those ranked in the top 10 depicted by market cap.
One exception is Binance Coin, the native token of the world’s most popular cryptocurrency trading platform.
Some statistics indicate BNB has gained roughly 150% in value this year alone.
While Bitcoin has also doubled in value, its overall gain is slightly lower when taking everything into account.
At the same time, it is easier to go from a single-digit to double-digit dollar values compared to adding a few thousand dollars per coin.
It would appear the popularity of Binance hasn’t diminished either.
This is despite the company branching off part of its trading platform specifically for US customers due to compliance concerns.
Additionally, exchanges have also come under severe pressure in recent years, which creates opportunities for others to step in and fill the void.
How BNB will compare to Bitcoin performance-wise in the years to come, is not easy to predict.
While Binance buys back and burns BNB every so often, they have to sustain growth in different ways compared to Bitcoin.