There is a sea of red on the markets today, with one coin bucking the trend, Binance Coin.

What is Binance Coin?

Binance coin is the default coin of the Binance exchange, currently the worlds largest exchange.

• It runs on Ethereum blockchain and follows the ERC20 token standard.

• The fees to trade on Binance are reduced if you pay with Binance Coin.

• total supply 200 million

• Binance uses profits to buy back and burn Binance coins to increase the price

• current price 17.05

• Market Cap $ 1,941,427,517

• It's currently number 15 on Coinmarketcap

This coin has potential. If Binance continues to grow, I think this coin will too. I understand after 5 years they stop giving you discounts on trades, not sure what the coin will be used for then. There are plans to make Binance fully decentralized in the future, and I think Binance coins will be used for gas.

Articles

https://www.newsbtc.com/2018/06/18/cryptocurrency-market-update-binance-coin-bnb-bucking-the-trend/

https://ambcrypto.com/binance-coin-bnb-jumps-a-rank-ahead-and-hops-over-nem-xem/

Resources

https://coinmarketcap.com/currencies/binance-coin/

https://twitter.com/binance

https://globalcoinreport.com/reasons-why-it-is-judicious-to-invest-in-binance-coin-bnb-this-year/

https://en.bitcoinwiki.org/wiki/Binance_Coin

https://www.reddit.com/r/binance/

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