The results of the research conducted by Binance Research with more than 40 corporate and VIP customers listed the potential factors that will have the most positive impact on the crypto currency.
Binance Research, Binance Research, a recently published market research report, included potential drivers for the growth of the crypto currency sector.
Legal regulations first
The Binance Research team reached out to the corporate and VIP customers of the stock exchange and asked about the developments that would have the most positive impact on the crypto currency. According to the responses, the initiatives of private companies such as Facebook, JPMorgan and Samsung are often listed as small driving factors for the crypto currency sector, while changes in global and local regulations are seen as the biggest potential growth factor.
ETFs are in second place after the regulations. As it is known, for the last two years, the ETF issue has been frequently occupying the agenda of the crypto money market. While the US Securities and Exchange Commission (SEC) was wondering when to approve the first Bitcoin ETF, there are two Bitcoin ETF applications that will be issued a final decision next October.
The third most influential factor in crypto currencies is the fact that traditional brokerage firms such as E * Trade and Fidelity offer crypto currency services.
Expected market share at Bitcoin
Participants were also asked about Bitcoin’s market share expectations. Accordingly, more than 80 percent of respondents think that Bitcoin’s market share will be in the range of 40-60 percent by the end of the year.
Binance burns BNB worth $ 17 million
Binance, the crypto exchange, reported that it burned 1.65 million BNBs worth $ 17 million in this quarter, as it did in each quarter.
Binance reported that its digital money, Binance Coin (BNB), burned 1.65 million BNBs, which totaled approximately $ 17 million this quarter.
The platform burns a certain amount of BNB in 15 out of every quarter, making it unusable. In this way, supply is gradually reduced to increase the value of BNB is targeted. The stock market will continue this cycle until 100 million BNB remains. There are currently around 143 million BNB in circulation.
Currently, Binance offers a 25 percent reduction in commission fees for transactions with BNB. In addition, anyone with a balance of 500 BNB can receive a 40 percent share from the commission of each member invited.
Binance Coin will have more responsibilities in the coming period. As it is known, the company is working on a decentralized stock market. This stock market will work on the Binance block chain, and therefore Binance Coin is expected to play a critical role here.
According to data from CoinMarketCap, BNB is currently trading at $9.98.