$BNB is important especially if you're trading on Binance. But why?
๐ช Like its other peers e.g Solana & Ethereum, $BNB not only holds significance as an incredible asset but also fulfills many other purposes when you have even some quantity of this gem ๐
๐ Indeed it is an amazing Layer 1 narrative that has delivered staggering returns in the last bull run and destined for more in this upcoming bull run as well. So, good returns are just an obvious thing, and being in the top 5 makes it formidable and a dependable investment option as well.
๐ Apart from the functional use case where BEP20(L1 blockchain) is used as a major network for transactions, it has been providing platform to several other projects.
One such use case is using BNB on launchpool where you can stake a small amount of BNB becoming a liquidity provider for a new upcoming project (for a certain period) and get tokens of that project as reward.
๐ Although Passive earning options served by Binance applies for almost all of the listed coins. But when it comes to APR especially for large cap coins Binance provides a decent APR on BNB.
Check out the "Earn" section for more details.
๐ I use the BEP20 network for wallet transactions and it has low gas fee & faster transaction speed (though I rely more on BEP20 because of the success rate) and I use trust wallet as well.
So always keep a tiny amount of BNB in your private wallets, if you're using the BEP20 network coz you need to pay the gas fee and you must have BNB for that.
๐ Apparently, BNB is trading near it's resistance level at $591.2 up more than 1.9% and has been making a symmetrical triangle pattern on the daily time frame.
Let's see if it's a breakout or a fakeout.
R/S levels: $600 & $630 (R1 & R2); $570 & $550 (S1 & S2)
Let me know in the comments section how many of you are acquiring BNB.
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