In brief
- BNB continues to trade like an unweighted basket of Bitcoin and Ethereum and will therefore likely surge in price, a Standard Chartered note said.
- BNB is the fifth biggest digital asset by market value.
- Developers don’t use its network to build like they do with other big chains.
Bitcoin isn’t the only cryptocurrency likely to surge. BNB is on track for a 360% rise, according to Standard Chartered.
The utility token, which runs on its own blockchain, has been trading in line with Bitcoin and Ethereum, according to the bank’s Global Head of Digital Assets Research, Geoffrey Kendrick.
And this is likely to continue, despite the asset having little utility, Kendrick added in a Tuesday note.
“BNB has traded almost exactly in…
