The Binance Chain is on fire in the 4th quarter of 2024. The BNB coin has broken the wake-up line and is expected to rise nearly $200 in value, reaching $705 per coin. The BSC also had a token presale that excited investors, causing a presale explosion. Bitnance presales now total nearly 80,000 tokens pre-purchased, averaging over 5000 tokens sold per day over the weekend.
What is Bitnance Token?
An alternative to Bitcoin on the Binance Smartchain, the Bitnance token is a new digital store of value assets; the simple definition.
It will operate on the BSC under the token symbol $BTN.
According to the whitepaper, all cryptocurrency traders will begin seeing this crypto token appear on public crypto exchanges on December 5th of this year.
On public exchanges, it is slated to debut at the price of $0.456 per coin.
Predictions on Presale
Currently, traders are buying the token in a presale to own it for 30% less than the public price, a short-term ROI opportunity. Many cryptocurrency investors buy at this point to make a fast ‘flip’ of their money during the initial listing price increase, but they generally also hold some tokens to sponge long-term yields that could be much bigger than the initial 30% gain.
Benefits of Token for Binance Smartchain’s 160M Users
Bitnance is expected to see major growth because it can save any of BSC blockchain’s 160,000,000 users up to 80% on their buy-sell trading fees when looking for a store of value. After this cryptocurrency launches, traders who stay on-chain instead of crossing over to the Bitcoin blockchain for an SOV could see their average trading fee lower from $32 to just $2.
Bitnance also has a lower total token supply than Bitcoin, making it more exclusive and harder to obtain than $BTC, even if it has a smaller user base. This should allow the $BTN token’s value to increase faster than BTN, with equal transactional statistics.
Forecasted 120X Price Increase
One wildcard prediction released at the beginning of the Presale noted that if this crypto-coin presale sold 100,000 tokens, it could also become popular enough to reach a value of $46 within a few years—more than a +12,000% return on investment for today’s investors.
These predictions, however, were based on the coin’s initial price in its presale phase, $0.357. Currently, the token is priced 0.01% or 0.02% higher, as it continues climbing in price every three days by that percentage.
If this token becomes a top-10 cryptocurrency on the network, it will have an enormous influence on the overall Binance Smartchain.
Perhaps this growth in the digital store-of-value assets market is propelling the surge of the BSC’s native token as well.
BNB Coin Surges Through Support Levels
The Binance Coin’s token symbol, $ BNB, has broken through the much-anticipated support level today, surpassing the price of US$520. Things were looking bearish over the last seven days, but chart trends indicate a bullish cycle is now on the horizon.
Bursting through the ‘wake up line’ over the last 24 hours, if Binance Coin’s trajectory follows the Changelly charts, it will reach over $705 in value by mid-September.
The sudden increase would be nearly a $200 gain in value for today’s buyers of the $BNB coin. With a 35% profit yield in two weeks, this could be only the start of the ride for the token.
If the trends were to continue through Christmas 2024, possibly driven by a Binance ETF approval, the coin’s price could jump to over $1000. This would be nearly a 93% gain on today’s value.
Approval of Binance ETF Could Pump The Price
The Binance ETF is expected to gain approval after the US government installed a new CEO at the company. This has been followed by a resetting of the Binance.US exchange’s policies, which users are expected to comply with by October 31st, 2024.
Since last week, Binance US traders have been given notices across the 50 states to accept the new terms and conditions, causing a bit of panic in the subreddit community r/BinanceUS. However, these new regulations could be a positive indicator that major financial institutions are ready for a Binance ETF, and billions of dollars could soon be shifted into the $BNB coin.
This time last year, 2023, the BNB Coin was valued at just around $211. It’s up nearly 143% in value.
This price increase is supported by the $ BNB’s being the native coin of the world’s biggest crypto exchange, Binance.com, which has an undeniable position in the crypto industry.
