Binance Ramps Up The Cryptocurrency Market Domination Fight With A New Bitcoin Token Launch

Binance exchange commenced trading on its new Bitcoin BEP2 token known as BTCB. The new token has its value pegged to Bitcoin on a 1:1 basis.

 For a start, there are 9,001 BTCB in issue and they are fully backed up by bitcoin reserves of same value.

A New Bitcoin Composite?

The cryptocurrency market scene has been abuzz with activities in recent months as a new crypto bull market emerged.

Prices of the leading tokens and coins have soared in the last two months. The market capitalization for cryptocurrencies has surged past $280 billion as trading kicked off in June 2019.

The sum of the market developments is that more people have began to pay attention to the crypto market scene with the new rise in prices.  

By introducing BTCB, Binance once again is blazing trail. It already commands respect in the marketplace with Binance coin.

By adding BTCB, it is definitely angling to take a leading role in the crypto marketplace place.

Any Immediate Results?

By keeping its innovative division busy, Binance is making it clear that it believes in the success of cryptocurrencies. 

There is no doubt that transaction fees, increasing patronage, and of course, profitability are hallmarks of capitalism. This is surely helping the Binance brand so far, as it boasts of millions of customers around the globe.

What Lies in For You

If you are a crypto trader, you can profit from BTCB by buying early while expecting a price surge in the days ahead. This can also deepen the relevance of Bitcoin in the years to come. BTC will likely benefit as a reference point when looking for a worthy store of value.

In a sense, Binance could be systematically starting out a move to accumulate Bitcoin, and thus be in a position to determine its direction n the years to come. Will this be the case? Let us wait and see.


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