bnb price

After the recent deal between Binance and FTX fell through, the price of FTT has continued to plummet along with the rest of the market, and the price of BNB hasn’t fared incredibly well either.

BNB/BTC is performing well

One of the most intriguing trading pairs of the last few months has been the BNB/BTC trading pair.

The reason for this is that usually in a bear market altcoins dramatically underperform BTC thanks to their lower levels of liquidity.

However, in the case of BNB, this has not happened – the price of BNB has been performing extremely well in BTC terms since the start of the bear market, having appreciated 80% against BTC over the course of the last year.


Binance is now dominating the industry

With the fall of FTX, Binance now has less competition. FTX was one of the largest exchanges in the industry and their downfall has meant that Binance now has far greater market share than they ever did before, with less competition.

Binance has been the largest exchange for quite some time now, and has managed to use their economy of scale to charge lower fees and provide lower slippage by having larger order books.

Their renewed commitment to transparency has been significant. Henceforth, Binance will regularly be posting information about their proof of reserves in order to ensure that the community has their confidence moving forward. These will be proven on-chain so that they can always be verified – something that the industry has needed for some time.

Could BNB flip ETH?

There has been a lot of speculation about “the flippening” of Bitcoin being dethroned by Ethereum, particularly during the 2017 bull market.

However, since then this proposition has come to seem more unlikely, especially when one considers that ETH/BTC failed to break ATHs this cycle despite locking up 14m ETH.

Now that the Ethereum Foundation has killed off their mining industry with the merge and released a roadmap for the coming years, it ought to be clearer that ever that Ethereum remains a highly centralised project, meaning that Ethereum’s previously-touted USP of decentralisation is one that is significantly lacking in substance.

Accumulating makes sense throughout the bear market

Historically, accumulating assets throughout the bear market has been a good time to do so.

Even though BNB did not retrace nearly as significantly as many other projects, this ought to be considered a sign of relative strength.

There is sure to be a lot of volatility in the coming months, but accumulating steadily by DCAing has been a tried and tested strategy that has worked successfully.

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