Binance’s Founding Team never sell their BNB but instead buy them says Co-founder He Yi
He Yi, one of the co-founders of Binance says that the team has not sold BNB but is buying instead
BNB has been one of the most lucrative investments in Crypto, it even outperformed Bitcoin (BTC) in 2018. One of the most important factors that determine the price appreciation of a token is the longtime holders of the token. The Binance team was allocated 40% of the initial token supply (80 Million tokens) during the ICO back in July 2017,
He Yi, co-founder of Binance who was OKCoin’s co-founder previously posted on the Chinese Twitter-like platform Weibo suggesting that the team is buying BNB tokens instead of selling them, she said:
“BNB white paper currency belongs to a security team did not move, the opposite team members put their assets into the BNB, if you do not believe what you want others to believe? If you have to sell your own tokens, why should someone buy them?”
Even during the recent drop in BNB’s price to $20 after the exchange announced that it is shutting doors to US customers, Changpeng Zhao, CEO of Binance assured investors that the team hasn’t sold a single token. The token’s price has picked back up its value since the drop.
Binance team has not sold a single team BNB. And that graph is way off, btw.
— CZ Binance (@cz_binance) June 14, 2019
How has BNB performed?
BNB has been one of the best-performing assets in Crypto, at the time of writing it is priced at $31.5 per token only down 19% from the all-time high of $39.33 in June. According to Coinmarketcap, BNB is the 7th largest Cryptocurrency with a market cap of $4.47 Billion.
BNB has been the least volatile Cryptocurrency for the month of June, through its regular buybacks decreasing the supply of the token Binance has maintained a healthy supply-demand dynamic making the BNB less volatile.
In recent times Binance has managed to increase demand for BNB tokens through lucrative IEO offerings and the development of its own Decentralized Exchange (DEX). The Malta-based company has already completed token sales for projects like Elrond, Celer, Matic, Fetch.AI among others.
The token is in such high demand that even competitive exchanges like Kucoin which has its own token is listing BNB on its platform. Without a doubt, Binance is the most attractive exchange fo projects to carry out IEOs (Initial Exchange Offering) which could drive the demand for the token even further high.
Ran NeuNer, host of CNBC’s Crypto trader recently praised CZ by saying:
Amazing to see that @cz_binance says that the highest pressure period of his life was when his token holders were losing money after the BNB ICO.
I wish more founders had the same ethic and value system. pic.twitter.com/1brtedI0NS
— Ran NeuNer (@cryptomanran) July 2, 2019
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