Launchpool

QCP Capital analysts explained the steady growth of BNB, the native token of the Binance cryptocurrency exchange. 
QCP Capital experts <a href="https://t.me/QCPbroadcast/1159" target="_blank" rel="noreferrer noopener">believe</a> <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a> has created an effective self-sustaining growth cycle for <a href="https://crypto.news/price/bnb/" target="_blank" rel="noreferrer noopener">BNB</a> with the help of Launchpool, a platform for launching an initial token offering among projects selected by the exchange. Thus, users of this product often reinvest farmed assets. 
<blockquote class="wp-block-quote"> 
 “BNB, in particular, has managed to create a virtuous self-reinforcing cycle through its Launchpool as BNB stakes sell their hefty airdrops and buy even more BNB.” <cite>QCP Capital </cite>
</blockquote> 
Experts explained that platform clients sell tokens received as part of the campaigns and increase their position in BNB for subsequent <a href="https://crypto.news/tag/staking/" target="_blank" rel="noreferrer noopener">staking</a>. Given the frequency with which the latter appears, reinvestment occurs almost weekly, QCP Capital adds. 
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According to&nbsp;<a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>, BNB has risen by more than 30% in the last seven days to $595 at the time of writing. At the same time, the asset previously reached the level of $630, which is a multi-year high. BNB is now 14% short of its all-time high (<a href="https://crypto.news/tag/ATH/" target="_blank" rel="noreferrer noopener">ATH</a>) from May 2021. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="641" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-14-at-19.09.25-1024x641.png" alt="QCP Capital explains BNB's constant growth despite Binance problems - 19" class="wp-image-14258331">
 <figcaption class="wp-element-caption">
 BNB Price | Source: <a href="https://coinmarketcap.com/currencies/bnb/" target="_blank" rel="noopener">CoinMarketCap</a>
 </figcaption>
</figure> 
BNB has been growing despite Binance’s recent problems. Earlier, the U.S. District Court changed the bail conditions for the cryptocurrency exchange’s founder, <a href="https://crypto.news/changpeng-zhaos-journey-from-mcdonalds-to-crypto-magnate/" target="_blank" rel="noreferrer noopener">Changpeng Zhao</a>,&nbsp;and <a href="https://crypto.news/changpeng-zhao-canada-passport-binance/" target="_blank" rel="noreferrer noopener">ordered</a> him to surrender his Canadian passport. 
The exchange also faced problems due to Nigerian requirements. The country’s authorities <a href="https://crypto.news/nigeria-reportedly-requested-data-from-binance-on-its-top-100-largest-customers-following-executives-arrest/">demanded</a> that the crypto exchange provide information about the 100 most significant users in the country and their transaction history over the past six months. 
The period under review is critical because it coincides with the devaluation schedule of Nigeria’s national currency. 
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QCP Capital explains BNB’s constant growth despite Binance problems

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