Key take-away and intricacies of eToro market research on Binance coin (BNB)

eToro, the world’s largest social investing platform, has now been the pioneer investment platform to offer BNB apart from the Binance Exchange. Well, this has been a remarkable milestone as it sums-up the total number of crypto assets available on the platform to 13. BNB is a token issued by Binance. As a value-added package, with the addition of BNB, eToro now offers both utility and security tokens on its platform.

Investors at eToro platform, for the first time, would be able to transact BNB utilizing fiat currency – presenting a new option for diversification of their crypto holdings. BNB will also be added to eToro’s CryptoPortfolio, which allows investors to diversify across a portfolio of cryptos weighted by market cap with just one click.

eToro has now published a market research report on Binance coin (BNB). Well, we have listed intricacies and some key take aways of this report: 

Fundamental Statistics:  

Crypto-asset type: Utility Token (May contain elements of a Security Token) 

Max. Supply: 190,799,315 BNB 

Current Circulating Supply: 130,799,315 BNB 

Market Capitalization: $645 million

Token Economics: Deflationary asset 

The circulating supply of BNB actually decreases, since Binance has promised to perform recurrent token burns of the currency.

Protocol: Ethereum (ERC20)

BNB is designed and performs as an ERC-20 compliant token built on the Ethereum network. The ERC- 20 standard defines a series of rules that Ethereum-based tokens should follow, mostly regarding how tokens are transferred between addresses or its fungiblity.

Let’s glance at the FxWirePro’s Currency Strength Index ahead of today’s FOMC minutes and G20 summit: FxWirePro's hourly BTC spot index is struggling at 30 (which is mildly bullish), while hourly USD is flashing 26 (mildly bullish) while articulating at 07:21 GMT. 

For more details on the index, please refer below weblink:

  • Market Data

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