Binance Coin utility is growing exponentially and its price may follow

This is the motto that the world's largest cryptocurrency exchange by trading volume, Binance, stands by since it introduced Binance Coin in July 2017.Binance Coin.

"BNB's utility has increased substantially. The coin finds more acceptance for payments and has been integrated by other companies in financial services such as lending. The largest increases have come from within the Binance ecosystem, however. BNB can also now be used on Binance DEX, as well as the company's Launchpad and Lending services."

Within the Binance ecosystem, Binace Coin can be used to pay for different services on the Binance Chain.

It can also be used to pay for fees on Binance DEX and to participate in token sales in Binance Launchpad. Through Binance Lending users can grow their BNB holdings and exchange it for fiat currencies across Binance's fiat partners around the world.

Binance Coin also offers utility beyond the Binance ecosystem as the company behind it has entered into strategic partnerships to expand's the use case of this digital asset.

Binance Coin can also be stored within the built-in apps of the latest flagship smartphones from Samsung and HTC. As the utility of this token expands, Binance saw a spike in the burn rate of this token.

The growth rate that the company is experiencing does not seem to align with the price of BNB, according to Changpeng Zhao, CEO at Binance.

The former CTO at OKCoin does not understand how a cryptocurrency with so much utility can depreciate 64 percent from its all-time high, as Binance Coin did.

Despite the steep decline in market value, Binance Coin managed to bounce off the 100-week moving average on its 1-week chart.

With all the developments that Binance is making to be at the forefront of the cryptocurrency industry, it seems like it would be a matter of time before the price of its native currency starts catching up.