Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no financial advisor, trader or expert, this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, never follow what I or other people say on internet
Binance Smart Chain Support Projects – Pancake Swap 120k BNB Pool
The target of this article is not actually to support any food name project as this is something I’m against, based on short-term history most food and animal names crypto projects have crash is such a fashion way although last week I mention how fast is Binance Smart Chain growing and that their are many projects been adding to it, some of the might be direct or indirect competitors on their own niche but at the end Binance is probably trying to diversify in a sense device and conquer. It’s a strategy that many giant market makers in real world industries do, this is something that happen constantly in tech mostly in hardware manufactors who may start just by making PC Power Supply but then turn next year and they keep adding more to there line of products now they have peripherals and then a few years later they come up with another brand who target only enterprise who also buys from the original company.
The project in topic as mention is Pancake Swap, describe on their wiki as follows:
“The exchange is automated market maker (“AMM”) that allows two tokens to be exchanged on the Binance Smart Chain”
I have always said that Binance is a MF Brilliant company that is expanding way faster that most exchange or crypto service provider and you can’t grand this only to their massive fund but also the team they have, it requires more than money to keep delivering every year and coming up with new products every quarter.
In regards of projects on the Binance Smart Chain they have now put down 120,000 BNB on Pancake Swap BNB pool, this has a USD valuation a bit over $3 Million, that’s no joke, this is serious money we talking for a crypto project and keep in mind this is under the umbrella of BSC
“In collaboration with PancakeSwap, Binance will launch a $120,000 BNB rewards pool to further support the growth of Binance Smart Chain. “
Wrapped BNB Liquidity:
As shown here besides the amount of BNB by BSC of 120,000 BNB with a USD value approximately of $3 Million we can see there is way more than that, compare to the DEX giant Uniswap and its governance token pool they are very close, not saying that Pancake Swap will take over Uniswap anytime soon I really don’t think that’s the case but showing that BSC support will be very important key factor for many projects in the future.
To join this pool all you have to do is create a BSC (Binance Smart Chain) Wallet in case that you don’t have one already and deposit BNB into your wallet, its clear that Binance besides economic boost its also providing guidance to this projects that’s why I wouldnt care putting some money on some of this projects, with the reputation Binance has so far I dont think we will see their DeFi projects crashing as others have, users will be limited to stake only 10 BNB per user and if they find out you are creating multiple wallets will be blacklisted and wont get any rewards. This is brilliant for the single reason that they trying to attract masses not whales, the economic power of a product is not on a single big buyer because it makes it weak although having a lot of small buyers make it very strong and its also fair for people to take advantage of this 120k they temporarily put down on the pool, Im sure this wont be for ever and at some point they will probably start to withdraw once the pool has a certain amount of volume. As a second incentive they announce that another $20k on BNB will be airdrop and split between all the wallets on the pool.
Such moves within the BSC will not only boost this projects but keep in mind Binance will always have BNB involve and this will be beneficial for BNB price for many reasons:
– More BNB buyers
– More BNB stake/lock down
– More BNB split within more BSC projects
– Less circulating supply
The BNB locked up is probably part of the projects bag but still is BNB that is currently locked up on the liquidity pool providing the option to farm
Binance coin at the moment of this article is at $31 very close to its all time high of $39.68 reported by CoinGecko
Binance Daily Chart
We can see how strong this coin is, despite 2019 Bear Market it kept performing even braking All Time Highs so now just think how high it can go during this bull market, I also expect soon a staking pool service for Ethereum 2.0 if they dont already have it and I havent read about it, there still a lot of positive momentum to build up on this daily chart.
All this different projects bringing more users, more buyers, more liquidity and marketing to the Binance brand using its default token as the mean to stake and get into new projects will only sky-rocket the price of Binance Coin, also take in consideration Binance Burn every quarter plus Bitcoin braking all time highs and potentially going into new highs for the rest of 2021, depending on Bitcoin price action it would not be strange to see BNB at $50 and it would be all because of the innovation and many products this company keeps creating on this space.
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