25 February, 2024

Expert Thinks BNB Has Become a Multifaceted Coin; Just He Predicted Years Ago

1 year ago

22 Nov, 2023

Andrew Kang, a well-known cryptocurrency specialist and analyst, recently made a post on Twitter in which he reflected on the price analysis he performed on Binance Coin (BNB) in 2018.

In the analysis, Kang stated that elegant but mistaken approaches have been taken as a result of the incorrect classification of BNB into the asset class that it should have been placed in. 

He went on to say that BNB is more than just a discount utility token; rather, it is a versatile coin that is on its way to becoming many different things, including a medium of exchange and a store of wealth, amongst other things.

Kang made the observation in the reflection post that BNB has actually evolved into a coin with multiple facets. Additionally, he mentioned that the coin functions as a MOE (medium of exchange) within the BSC ecosystem as well as in real life, in addition to being operating capital for the majority of crypto traders. 

He added that compared to BTC and ETH, BNB is a superior SOV (store of value), and it also supports launchpad access cards. 

He had initially believed that the model might have been excessively aggressive; nevertheless, it turned out that it was really extremely conservative, says Kang, adding that:

“But some predictions and the overarching theme of BNB being a powerhouse have been true.”

In 2018, Kang stated that Binance has established a new phenomenon with their coin. Although it was initially propelled by its utility as a discount vehicle and then accelerated by anticipation about the perceived exponential expansion of the Binance platform, it has since transitioned into an asset whose value has been reasonably stable in comparison to other cryptoassets, he said