Should You Buy BNB On Dip?

BNB price has dropped 23% from $310 to $ 238 because of regulatory crackdown from the SEC that binance.us has affected from the regulatory crackdown.

The Advantages of BNB

1. BNB has finite supply and BNB Chain regularly burn BNB.

Currently, BNB is the fourth largest crypto by market cap. It has fully diluted market cap of $36.9 billion with total supply of 155,851,933.5 BNB.

2. Fast and cheap transactions.

BNB Chain can process 2,000 TPS and transaction fees start at 3 Gwei.

3. BNB Chain has relatively strong ecosystem.

Uniswap

BNB Chain runs on Uniswap, the most popular DEX. BNB has $14 million TVL in Uniswap.

PancakeSwap

BNB has $1.484 billion TVL in PancakeSwap.

Venus

Venus has $167 million worth of WBNB TVL.

Radiant Capital

$66 million worth of BNB have been deposited in Radiant Capital.

NFTs

BNB Chain also support NFTs.

Should you buy BNB on dip?

The price of BNB has dropped only 23%. There are other cryptocurrencies that also have potential upside such as Polygon and Solana that their prices are laggard.

However, if you use BNB in your daily life; either for payment or DeFi, you can buy BNB on dip to earn extra 20% profit.