Is Binance BNB undervalued?!

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Hi cryptopeople,

first i wanna state clear, that the "Binance BNB token" is no "share" of the Binance exchange! But in this comparison we gonna look at it a bit like a share of Binance.

But lets look at some numbers and compare them to some established exchanges in the classic asset trading.

Binance has a market cap of 950.000.000$ (4.1.18)

It has an estimated trading volume of ~1.000.000.000.000$ in 2018
If u calculate this with the 0.1% trading fees u get to an volume of 1.000.000.000$.
But there are also the withdrawal fees, the voting fees + other income. I think u come to a conservative 500.000.000 $to 750.000.000$ profit in 2018.

If you put that in relation to its market value u will get an PSR of ~1 and an PER of ~0.6

We gonna take a look at the German Stock Exchange (Deustche Börse) to compare that.

Deutsche Börse has an volume of around 3.000.000.000 $and a profit from 1.000.000.000$ to 1.300.000.000$ in 2016.
Its market cap is around 21.000.000.000$.

this makes an PSR of 7.6 and a PER of ~25

As i said in the beginning the BNB tokens aren't shares of the Binance Exchange but i think if u look in the future and if u account that we are just in the beginning of the people using Cryptocurrency exchanges there is a lot of space upstairs!

The difference to the most other Altcoins is that it already has some major usecases already.

Exchange Fees: Binance tokens can be used to reduce fees for trade costs and commissions. Currently, Binance has a 0.1% trade fee and 50% of the fee can be paid in terms of Binance tokens.

GAS: Binance will eventually feature advanced features that require GAS. BNB tokens can be used as GAS to power these advanced features.

Staking: Binance eventual want to develop a decentralized exchanged. The BNB tokens will eventually be used on this exchange to stake transactions.

Considering the listed arguments if think u can say yes, the Binance Coin BNB IS UNDERVALUED!

Hope i could give some of u some new information or a new perspective on this altcoin!

Best regards
Lexicoin