Needless to say, Bitcoin had a massive 2019 with a massive jump of 101% in price. The coin went from $3,742 to $7,262.26 at the time of writing this article.
Now, the most important coin in the crypto market is trading in the red.
Surprisingly, despite the massive performance of the coin, BTC is not the number one crypto of this year in terms of performance, according to Bloomberg.
Binance Coin is listed on the first spot
The Daily Hodl notes that the first prize goes to Binance Coin (BNB), which surged from $6.16 at the start of the year to its current price of $19.42.
Out of the top 10 coins by market cap, only two are ending the year in the red: XRP and Stellar Lumens.
Bloomberg released a chart that analyzes how the top ten coins have performed until today.
Binance Coin is the winner of 2019
The coin had massive success thanks to the early success of the company’s IEOs.
Here’s a look at how the coin burn works, according to the company’s whitepaper:
“Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until we buy 50% of all the BNB (100MM) back. All buy-back transactions will be announced on the blockchain. We eventually will destroy 100MM BNB, leaving 100MM BNB remaining.”
Speaking of Binance Coin, the digital asset was recently in the news in relation to the mass adoption of cryptos.
TravelbyBit teams up with Binance
TravelbyBit, an online travel agency that offers booking services for people who are using cryptos, teams up with the leading crypto exchange Binance to launch a crypto-backed travel rewards card.
The official announcement says that TravelbyBit Travel Card can be used to facilitate digital currency payments on large travel websites.
Among the digital assets that can be used, there’s BNB, as well.