Binance Coin (BNB) is a “New Bitcoin”, Says TRON CEO Justin Sun

Justin Sun, the founder and CEO of the TRON foundation, almost always says something of interest on Twitter, possessing the penchant for marketing and news-grabbing headlines that he does.

This time around, Sun tweeted that he believes that Binance Coin (BNB) is a “new Bitcoin” — quite a grand claim, but not surprising given the source of the opinion. Unlike the rest of the crypto market, Binance Coin has recently risen sharply in value, and is currently ranked 7 by market cap with the price hovering at around $15.

Perhaps Sun made a casual remark not to be taken seriously. After all, there is a lot for the BNB coin to achieve before it can challenge Bitcoin. In terms of market cap, BNB stands at $2.1 billion while Bitcoin is at $68 billion.

Or perhaps there is some truth in Sun’s words. As reported by CoinDesk, the price trend for BNB is deviating from Bitcoin’s, differentiating it from other coins in the market. This year so far, BNB/USD has outperformed BTC/USD, and BNB is also “the only cryptocurrency out of the top 10 to post a yearly gain against the dollar.”

It looks like BNB is charting its own course and positioning itself to be a dominant coin in the crypto space.

Binance Continues to #BUIDL

The steady growth of BNB can be attributed to the Binance’s #BUIDL approach, even during this bear market. 

Binance recently launched its decentralized exchange, the Binance DEX, which uses the BNB coin as a base pair. This might partially be contributing to the rise in the token’s price.

Another interesting development that may be helping the cause is that the BNB token has several use cases, including in the payments, entertainment, shopping and the travel industries. Binance is certainly putting in a great effort to popularize the token.

Binance has also launched a simulated trading competition to give the DEX some exposure:

Sun’s participation in the discussion is sure to bring some more attention to the token and the exchange. Whatever the case, the performance of Binance Coin stands out in a market where price have remained largely stagnant in recent times.

3 Comments

  • Bitcoins and Gravy
    Posted March 8, 2019 11:26 am 0Likes

    The Bitcoin Blockchain is the largest cryptographically secured network in the world. It’s first and foremost a base level protocol that is changing (has changed) the world.
    BNB coin is an altcoin being pushed by a guy who owns a boat load of it.
    Let’s keep our heads on straight and not fall prey to hyperbolic bull manure ok guys?

    • John Doe
      Posted March 8, 2019 12:20 pm 0Likes

      You’re probably invested in bitcoin though? So why should anyone who isn’t invested in cryptocurrency listen to people like you who are just defending base camp? That’s like hearing Jeff Bezos say “Any good news coming from places outside of Amazon is just hyperbolic! Don’t go shop else where!”

  • Roger J.
    Posted March 9, 2019 1:43 pm 0Likes

    Let’s all admit what the market really is these days…. no new entry of people. No new adoption. Just the same people screwing each other back and forth. I steal your coins and leave you with the bags. Then you steal my coins and leave me with the bags. Everyone just tries to hop on a coin that is rising. After a couple of days of growth, they hop off that coin, causing a mass exodus. We are cannibalizing the market.

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