BNB was one of the best performing assets of the last bull market, having appreciated over 10,000x since its lows at $0.03 in October of 2017.
Now in the bear market, the price of BNB has continued to perform well, and is now bumping its head against the $300 resistance level.
Binance continues to form more partnerships
Binance has continued to form more partnerships over the course of the past few years, and has signed some of the most famous people in the world as brand ambassadors.
Notably, figures such as Cristiano Ronaldo have decided to work with Binance in order to launch his upcoming NFT collection.
Your new journey with @Cristiano Ronaldo begins here.
Join us on #Binance, the home of Ronaldo’s exclusive NFT collection, available now.
Let's change the world together. pic.twitter.com/eB9zvGqq9a
— Binance (@binance) November 18, 2022
BNB could flip ETH
As the battle between Turing complete blockchains rages on, those that have the most scalability and the best business development are the ones that are gaining the most traction. One could even go as far as to say that a team’s business development is significantly more important than their underlying technology.
For example, the entire Polygon blockchain hinges on a bridge that is controlled by a small number of people on a multi sig wallet: the decentralisation is next to non-existent, and yet they have managed achieve impressive growth by effectively launching a vampire attack on Ethereum by branding themselves as a layer two rather than a competing layer one.
Now that Ethereum has moved to proof of stake, there is very little to differentiate it from other centralised blockchains, meaning that the Ethereum community now cannot use this as such a strong USP.
BNB/BTC pair continues to look strong
The BNB/BTC pair has continued to gain traction, and BNB continues to outperform BTC across almost all time horizons.
There are many reasons for this, not least of which that BNB is a far smaller asset than BTC so still has a lot more room to grow.
The Binance Smart Chain has also become one of the most important ecosystems in the entire space, with a rich ecosystem of DeFi and NFTs being built and expanded on top of it. From decenetralised exchanges, aggregators, lending protocols, yield generation protocols, a thriving altcoin casino, and far more.
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