Binance market trend- 2021
This company became one of the biggest crypto exchange platforms in the world. It has a market cap of over $51.08 billion and claims to have 25% market share in the crypto market. Binance exchange attracts investors for many benefits. The key factor is the availability of more than 50 crypto tokens for trading. They also have a nominal trading fee compared to other crypto platforms. Binance (BNB) is one of the most secured exchange platforms and most trustworthy.
Looking at the recent growth trend and market analysis, Binance coin is one of the best performing coins in 2021. It started with $38.61 in 2021 and reached $690 by May. The current Binance Coin (BNB) price is $395.14 as of 5th June. It claims to show consistent price growth and this token is on investors’ top list.
Binance CEO and his tweets on crypto market
Changpeng Zhao (CZ) a Chinese Canadian business executive is the CEO and founder of Binance who has also developed a “high-frequency trading” software.
The CEO has recently replied to one of the crypto enthusiasts when he tweeted that Binance coin will be bigger than Apple or Amazon. CZ tweeted back “ Not stock, but other parts are spot on. Where we are going, we don’t need stocks.”
This tweet definitely shows his optimistic approach and probably future plans for BNB. However, if we look at Binance’s current market cap is at $64.8 billion which is far behind Amazon and Apple whose current market cap on an average is ~2 trillion. Having said that, in the crypto market Binance (BNB) coin is still one of the leading altcoins and has found a bullish momentum in the last 6 months.
On 4th June, Changpeng Zhao also tweeted that people should not follow financial advice from other rich guys as it will not make anyone rich and he has zero people getting rich like that. He showed great disagreement with such tweets and said people should not manipulate market prices and should stop giving financial advice by using their influential powers. Also, he said that people should use power responsibly and should not use humor to pull the market up or down. He later added that it’s not great and not funny, while using the hashtag HODL.
He also tweeted in the month of May, about traders who panic sell. As per his tweet if you invest in crypto market you should not panic sell as it would not make you rich. He stated that people who have panicked and sold will feel the beat later.
The 44-year old CEO has also mentioned in one of the interviews that he has invested nearly all his net worth in cryptocurrency. If we talk about his current net worth, it is $1.9 Billion.