Binance Coin (BNB) performed better than the top 10 cryptocurrency in 2019, the latest research by Binance has shown.
In a Binance Annual Crypto-Correlations Review, Binance Research reported that BNB was the best-performing asset in 2019. The digital token saw +128% “of the – on median – largest ten crypto assets by market capitalization over 2019”. The second-best performing asset came out to be Bitcoin, which pulled +87% increment.
As reflected in the report, the market dominance of Bitcoin was around 68% after climbing form ~50% earlier in 2019. The research says there was a high correlation among cryptocurrencies in 2019, a high median correlation coefficients were noticed.
Ethereum, for example, is the highest correlated crypto asset in 2019 with an average correlation coefficient of 0.69.
The Binance Research report states that only Tezos (XTZ), NEO, and Bitcoin SV (BSV) experienced price recovery with just four of the top 10 cryptocurrency asset sustaining their gains in Q1 and Q2 of 2019.
In the same 2019, Bitcoin price climbed by 87% and was outperformed by BNB alone in the group, with 130%. Bitcoin Cash and Litecoin saw +30% and +25% annual price gain.
Binance Invests in Open Data Framework Numbers Protocol
Binance has announced investing in Numbers, a blockchain protocol centered on data monetization and traceability. The protocol is focused on developing an open, transparent and traceable data system.
The team behind the project since 2019 designed a completely open-source application that ensures data traceability and digital evidence, thereby giving people the opportunity to manage and monetize their personal data.
Binance, unlike other exchanges, has made some necessary acquisitions to increase the usage of BNB crypto asset.
The exchange has partnered several firms, making some necessary acquisition along the line.
A few days back, Binance Launchpad introduced WazirX (WRX) token sale. The token sale according to Binance Launchpad will imitate the lottery style.