Hello everyone. This is my first homework given by professor @yohan2on. Thanks for reading.

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What is BNB(Binance coin)?

Binance Coin is an ERC-20 based crypto currency created by Binance, one of the fast and reliable crypto exchanges preferred by many people in the world, including myself. Binance later created its own BEP2-based chain. Binance has made the transition to the BEP2 base by burning the tokens on the ERC20 base.

Binance launched 100 million BNB with its ICO in June 2017. There are 153,432,897 BNB currently in circulating supply. Binance buys BNB with a portion of its profit and burns the BNB it receives to prevent inflation in the BNB market. Binance intends to continue this situation until 100 million BNB remains in the market.

Why should I buy BNB? Advantages of BNB.

If you are using binance and want to take advantage of fees discounts, you must have BNB in your account. You can take advantage of the fees discounts in the screenshot below. So you have to pay 1$ commission. If you use BNB, you pay 0.75$. (You must go to the settings section of the binance exchange and activate the "Use BNB to pay fees" button)

You can convert a small amount of coins that you cannot trade in your wallet to BNB on Binance. For example, you have 0.0017 LTC, 0.00024 ETH, and 0.0022 XMR. You want to use it but cannot trade it because it is very small assets. You can convert these small amounts of coins to BNB and use them.

You can earn coins with "Launchpool" by keeping purchased BNBs in your portfolio.

We can say that it is a good option not only to take advantage of commission discounts, but also to invest like other altcoins.Binance is currently the largest exchange, and the number of users is growing every day.This means new investors buying BNB to take advantage of the benefits. Therefore, the value of BNB is increasing steadily. This is why BNB reached these levels in a very short time.

The value of each coin can increase suddenly as well as decrease suddenly. Therefore, it is necessary to do good research first.

How to buy BNB?

You can buy from exchanges such as Binance, FTX, Kucoin by credit card or by trading with other coins.

Current Market Situation of BNB

Launched in 2017 for 0.15$, the current market value of BNB is 521$. BNB, which always makes its investors smile, has reached a market cap of 79,992196,021$ in just 4 years and has managed to become the 3rd among all coins but volume has decreased this week. BNB's ATH reached up to 637$.

When Binance made its 14th BNB burn, the market price of BNB fell and the chart continued horizontally for 1 week. Later, BNB had reached a new ATH. A few days ago, Binance completed its 15th BNB burn and the price started to decline. Maybe the same situation can happen again.

Conclusion:

I think it is an altcoin that doesn't need much comment on it. It is an altcoin that I can invest in in the long term as there is a solid team behind them. We may even see it competing with ethereum in the near future.

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