Binance coin(BNB) is now having a huge pump lately; there are some reasons for this article’s sudden rise. Those reasons will be summarized.
Binance Smart Chain(BSC)
It is seen that day by day, the environment of the BSC is growing fast. By the long going fee issues on the Ethereum blockchain, BSC seems to be a strong alternative for the traders. Some traders argue that the Ethereum blockchain fees outshine the technology it has, which seems to affect the behavıours of the traders behaviors. The strong alternative gives people reliability.
Strong Exchange Market
Binance, which is known to be the biggest (by volume) in the cryptocurrency industry, becomes a solid ground for the BNB rise. Full functioning and reliable exchange markets give people the idea that their money is safe. The currency that is being supported by this exchange is more reliable than other altcoins.
CEO of Binance
The support and strong community of CZ seems to have influence over the traders all over the world. The positive image of the company CEO is a trump card for BNB. The followers of CZ seem to have faith in his projects.
P.S: This is not an investment advice.