The month of May closed with BNB falling below the $300 mark as the selling activity increases. As such, the price was expected to fall to the $280.00 mark before stabilizing. The suggestion is reinforced by the mid-term technical analyses that are also highly bearish. Further downwards movement is unlikely as trade volume remains low.
A year ago, the observation was that BNB and LINK were the only two coins that really steadily went up during the bear market. It is quite likely that as BNB continues to grow in popularity, we will see wider use of BNB. With the introduction of the Binance Card, BNB could almost be used anywhere, though technically speaking, with every transaction, it will be converted into fiat.
A good indicator would be market performance. Let’s take a look at how BNB compares with other altcoins.
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The crypto token has garnered support from other partnerships which has helped its usage spread. It includes a partnership with Asia’s premier high-end live video streaming platform, Uplive, which sells virtual gifts for BNB tokens to Uplive’s 20 million-strong user base.
Binance coin is also supported by the platform, the mobile app, and the VISA debit card of Monaco, the pioneering payments and cryptocurrency platform.
Fortunately, price predictions are meant to cover price forecasts for Binance coins for a prolonged period. Therefore, short-term trends are not primarily instrumental in determining the future price of a coin. As a result, the Binance coin price prediction for 2022 onwards will focus on historical price actions and the price predictions from market experts.
Today’s BNB price is $220.93 with a 24-hour trading volume of $1,797,128,935. BNB is down 14.49% in the last 24 hours. The current CoinMarketCap ranking is #5, with a live market cap of $36,072,059,212. It has a circulating supply of 163,276,975 BNB coins and a max. supply of 165,116,760 BNB coins.
What is Binance Coin?
The Binance coin is listed on the Binance trading platform as an individual coin, a digital asset, trading with the BNB symbol. Binance coin started in 2017 and is backed by blockchain. BNB coin runs on ERC20 Ethereum. the Binance ecosystem is designed to support a range of utilities, such as trading fees, listing fees, exchange fees, etc.
Furthermore, the main reason why Changpeng Zhao (founder of Binance Exchange) initiated the BNB coin was to remove many trading problems hindering the crypto market. The vision he had made solved those problems and, at the same time, made Binance coin a top competitor with other crypto exchanges.
Binance Coin Overview
Binance Coin Overview
| Coin | Symbol | Price | Marketcap | Change | Last 24h | Supply | Volume (24h) |
|---|
Who are the founders of the Binance exchange?
Changpeng Zhao and He Yi started the Binance coin in July 2017. They first began Binance as an Initial Coin Offering (ICO), but today, Binance has become one of the most significant crypto coins globally.
Is there a maximum supply of BNB coins?
Yes, a maximum supply of 170,532,785 BNB coins is available, and 153,432,897 have been distributed as of April 2021. Binance whitepaper says that half of the top supply was used for the ICO and public sale of the token.
Binance Coin adoption and technology
Binance coin is famous for many reasons, but a significant reason is that it holds about 1 billion in trading volume every day. Binance seems to have a very bright future, but it needs stability. To do that (bring stability) and avoid sudden market fluctuations, BNB will have to be burnt using a systematic approach.
BNB had the potential to have an initial coin offering (ICO) of 100 million, and upon its launch, it hit the potential in July 2017, and $15 million was successfully raised. The generated funds were used to make the ecosystem larger by using a large sum of the money for marketing purposes, an exciting business opportunity that provided crypto startups a chance to be listed on the Binance cryptocurrency exchange platform.
Another essential characteristic that makes BNB unique and a center of attraction for adoption is that other digital assets can be traded for BNB. It can pay the Binance 0.1% trading fee when users move their crypto coins from the exchange to a private wallet. The price is typically charged in addition to the withdrawal fee.
However, Binance does not support smart contracts and uses the Tendermint Byzantine-Fault-Tolerance (BFT) consensus protocol which allows multiple nodes (Validator nodes, accelerator nodes, etc.) to be used in transactions, validation, and authentication processes at different stages.
Another vital advantage of the Binance coin is that it can be used in particular ICO investments using the Binance launchpad program; this creates a flawless framework where other virtual tokens can be traded. This creates an excellent opportunity and allows for extra credit and debit cards to be supported on the Binance cryptocurrency exchange platform, the digital currency, and the mobile app.
Binance Coin to Bitcoin Price Chart — TradingView
Learn More About Binance NFT Marketplace
Binance Price History
The varying price differences of Binance Coin (BNB) can be studied better using Crypto Volatility Index (CVIX). CVIX helps to analyze the price dynamics and helps to ponder on essential elements that affect the current price and future Binance coin price. CVIX also carefully visualizes the algorithmic methods that demonstrate the market sentiment of BNB, either in a positive or negative light.
Binance coin had a remarkable 2019. It was positive in many aspects, and although the currency slowed a little in the second half of the year, it had a significant push by the end of 2019, primarily because of the IEO that was launched later that year. Binance coin price closed in 2019 with a gain of over 150%. However, the following year (2020), a noticeable downward pattern was noticed. It was ongoing for more than six months, mainly due to the pandemic at the beginning of the year. The downward trend was seemingly more extended than usual.
A significant characteristic of many cryptocurrencies is volatility, and the Binance coin suffers from the same. Binance coin has shown a lot of potential over the short-term price analysis. Let’s see what experts have to say about the BNB.
Coinfan’s Binance coin prediction is that BNB holds an optimistic future as that the current price rally might continue till the end of the year. Take a look at this progression in BNB prices.
With such a move, we should see the BNB price in the four digits in 2022. Money in the market is pouring into the leading crypto platform – BSC. The launch of BinanceNFT will bring a new uptrend back to the market. Do you share this popular opinion?
Binance Coin Technical Analysis
Overall, the 4-hour Binance Coin price analysis issues a sell signal with 15 of the 26 major technical indicators supporting the bears. On the other hand, only one indicator supports the bulls showing little to no bullish presence in recent hours. At the same time, 10 indicators sit on the fence and support neither side of the market.
The 24-hour Binance Coin price analysis shares this sentiment and also issues a sell signal with 13 indicators suggesting a downwards breakdown against only three indicators suggesting an upwards movement. The analysis reaffirms the bearish dominance while showing low buying activity for the asset. Meanwhile, ten indicators remain neutral and do not issue any signals at press time.
Binance Coin Price Predictions 2022-2030
Wallet Investor
Wallet Investor predicts a significant downturn in the market value of BNB by 2023, with the coin’s average price falling to about $40. By June 2025, they predict a fall of about 87% in the price of BNB. Over a 5-year period, the bearish signal is expected to continue, resulting in a loss of over 90% in the market value of the Binance Coin.
LongForecast
According to the Binance price prediction from Longforecast, the low and high prices for December 2022 are projected to be $139 and $177, which is a 30-45% drop in price. They expect the coin’s bearish price movement to continue in 2023, with BNB expected to dip to $116 in January 2023.
The forecasted closing price for December 2023 is $234. By 2024, they expected the BNB coin to recover and reach a maximum price of $506 and a minimum market price of $238. The predicted trading range for 2025 is $384 to $473.
PricePrediction
PricePrediction is bullish on BNB despite the ongoing market downturns. They predict that in 2022, BNB will reach a minimum price of $354.19, a maximum of $413.46, with an average trading price of $368.75. By 2023, their BNB price forecast expects the coin to be trading at a minimum of $505.65, a maximum price of $623.48, and an average of $520.39. PricePrediction also forecasts a bullish trend for BNB till 2030, and their analysis puts BNB at a maximum price of $8,437.16.
Cryptopolitan
After conducting extensive research on the Binance coin, here’s our BNB price forecast for 2022-2030.
Binance Coin Price Prediction 2022
According to our Binance Coin price prediction for 2022, we expect a significant price recovery for Binance Coin before the end of 2022. The maximum predicted price of the coin for 2022 is $357.97, with a minimum price of $313.61 and an average price of $337.
Binance Coin Price Prediction 2023
The Binance Smart Chain potential, plus the fact that Binance is one of the world’s largest cryptocurrency exchanges, might push the price of BNB further up. As per our Binance Coin price prediction for 2023, the coin could hit a maximum price of $400.99, a minimum price of $339.54, and an average of $362.76.
Binance Coin Price Prediction 2024
According to our team’s Binance Coin price prediction for 2024, we expect some pullbacks within the year, resulting in a minimum price of $313.09, which could be an opportunity window for investors to buy Binance coin at a lower price. By the middle of the year, BNB is forecasted to go bullish with an average price of $375.44 and a maximum price of $454.48.
Binance Coin Price Prediction 2025
Our Binance Coin price prediction for 2025 projects a maximum market value of $575.76. The predicted minimum price of the coin is $439.88, and its average value is $492.39.
Binance Coin Price Prediction 2026 and beyond
In 2026, the Binance Coin may experience pullbacks in market value, with prices expected to be within the range of $417.57 to $489.45. Our Binance Coin price forecast for 2027 predicts tremendous growth during the year. We expect BNB to achieve new highs in terms of price points and market cap. BNB’s price is expected to surpass its current all-time high, reaching a maximum price of over $700.
By 2028, BNB is expected to reach a maximum level of $893.08, hitting over 3x its current market price. The predicted minimum price of the coin is $749.11, and its expected average trading price is $813.76. In 2029, Binance coin BNB is expected to hit a maximum price of $1,096.22, an average price level of $1,064.64, and a minimum price of $1,003.07. If the bull market runs through 2030, investors can profit more, with BNB’s price expected to reach a maximum level of about $1,198.37.
Binance Coin Price Prediction by Industry experts
As per AJ Five, a YouTube crypto analyst, the market value of BNB could continue to fall until the price of Bitcoin recovers because of the correlation between the price of BTC and several cryptos on the market. Also, Binance exchange is currently being investigated by the SEC for possible infringement on securities laws during its BNB token Initial Coin Offering in 2017, which could potentially spell problems for the exchange and Binance coin – it remains to be seen.
Conclusion
Binance is expected to maintain its dominant position in the cryptocurrency exchange sector for the foreseeable future. The development of the Binance Chain network, new partnerships, regulatory news, and new use-cases will determine the trajectory of BNB going forward.
Despite the current market downturn, the outlook of BNB is optimistic for the time being. Because of this, we expect BNB to reach $575.76 by the end of 2025, according to our forecast. This does not represent financial advice or a call to action. Therefore, you should do your diligence before investing in any crypto, including Binance coin.
Source: https://www.cryptopolitan.com/binance-price-prediction/