How to Identify a Forex Trading Scam

Today, the world knows Binance Coin (BNB) as the third-largest cryptocurrency in the entire crypto-verse. Binance has a market capitalization of $107,006,849,282, which is the third-largest following Ethereum and Binance.

This wasn’t the case for Binance Coin since the beginning. Binance Coin was launched back in August of 2017, just when its issuer, the Binance Exchange was launched. At the time of launch, the price of BNB was at $0.11 per BNB.

However, the asset managed to gain a lot of prominence right after its launch and by December 31, 2017, it had hit its all-year of $10.11 per BNB. BNB ended the year at $8.4 per BNB, which meant that its YTD growth for the year 2017 was 7,636%.

As year the year 2018 began, BNB started its trade at a price of $8.4 per BNB. Unfortunately, the year 2018 did not prove much promising for BNB because the entire crypto-sector had lost the trust of investors due to the January 2018 Bitcoin plunge.

BNB reportedly end the year 2018 at a price of $6.16 per BNB, which meant that the YTD growth of BNB was around 25% in negative.

BNB then started the year 2019 at a price of $6.16 per BNB, and then went on to hit an all-year high of $38.82 per BNB on June 21, 2019. However, the same year-end with a price of $13.73 per BNB. This meant that BNB gained over 50% YTD growth in its price for 2019.

As for the year 2020, BNB began with $13.73 per BNB and hit its all-time high on December 29, 2020, at a price of $38.95 per BNB. However, BNB ended the year at a price of $37.38 per BNB, demonstrating 272% YTD growth.

Surprisingly, the year 2021 proved to be a complete story for BNB. Although it started its year at a price of $37.4 per BNB, its price soon escalated, hitting an all-time high of $690.93 per BNB, which was on May 10, 2021.

The stats from TradingView and CoinMarketCap show that this was a huge leap for BNB as from January 1 to May 10, its price grew by 1,847.41%. At the time of writing, BNB’s price is at $642.88, meaning it has experienced a 6.95% drop in its price. However, this is not the worst BNB has faced since its all-time high.

It was on May 23, when the price of BNB went down to $225.63 per BNB. Since then, BNB’s price has surged tremendously. In the past 30-days, it has grown by 20.56%, 9.90% in the past 7-days, and 3.02% in the past 24-hours.

This goes to show that BNB is only going to go up. The performance chart for BNB by TradingView shows constant growth. The trend for BNB on the TradingView graph is in the upward direction and even the investors’ sentiments are with the digital asset. BNB is expected to hit an all-year-high of 1,902.57% according to predictions from TradingView’s performance graph.