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"BNB and CZ Continue To Outperform": Analyst Indicates Four Reasons

Sat, 11/26/2022 - 14:07
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Vladislav Sopov
Partner of crypto investment firm Mechanism Capital Andrew Kang showed that 2018 catalysts of BNB sustainability still look relevant
"BNB and CZ Continue To Outperform": Analyst Indicates Four Reasons
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Andrew Kang has recalled his comprehensive analysis from August 2018 and explained why it is still valid for the Binance (BNB) ecosystem and its core native utility asset Binance Coin (BNB).

Ecosystem, operating capital, SoV and Launchpad access: Andrew Kang on BNB

Kang retweeted his bullish thesis on Binance (BNB) and its utility asset BNB from 2018. More than four years ago, the seasoned investor called BNB a "multifaceted coin on its path to becoming a medium of exchange, store of value, among many other things."

Today he is assured that at least four messages from his narrative are still valid. Binance Coin (BNB) has evolved into a full-stack medium of exchange in both the BNB Chain ecosystem and in some "real-world" use cases.

The majority of cryptocurrency traders also use BNB as their operating capital instrument. Binance (BNB) still remains the largest cryptocurrency exchange by trading volume and the number of registered accounts.

Surprisingly, Binance Coin (BNB) is a better "store of value" than the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH). That is why Binance Coin (BNB) looks attractive for traders, investors and cryptocurrency entrepreneurs of various types.

Main beneficiary of FTX/Alameda drama

Besides that, Binance Coin (BNB) is the entry ticket for all actors of Binance Launchpad, a fundraising mechanism for selected early-stage projects. As covered by U.Today previously, Binance Coin's (BNB) price jumped by 17% on the much-anticipated announcement of Hooked Protocol's IDO.

Related
BNB Price Jumps 17% as HOOK to Be Released on Binance Launchpad

As such, Kang is sure that the Binance (BNB) exchange and its token will outperform the competitors in the long run. Binance's CEO Changpeng "CZ" Zhao is excited by Kang's conclusion:

Thanks for the support over the years!

So far, Binance (BNB) looks like the winner in its rivalry with FTX, the fourth largest exchange. Although Binance (BNB) decided to avoid acquiring FTX's products, it benefited from the user exodus from FTX.

For instance, as traders are migrating to decentralized wallets, the majority of them are either choosing Binance's partner Trust Wallet (TWT) or Binance-backed SafePal (SFP).

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)