The current bear market has been tough on crypto investors, with most digital assets posting double-digit percentage losses. But amid the sea of red, a select number of cryptos have managed to post gains or modest losses. Dogecoin (DOGE), and Binance Coin (BNB) are oftentimes mentioned by analysts to show signs of strength during the bear market. How?
Although first hosted on the Ethereum exchange, Binance Coin (BNB) has subsequently migrated to its own Binance Smart Chain (BSC). This has allowed it to process transactions more quickly and efficiently. Recently, BNB has shown signs of strength, signaling the BNB is ready for the bull run soon.
ArchLoot, as a UGC NFT game built on BNB Chain, is gearing for the next phase of the closed beta test. Given its inaugural quarterly success in both product and community, ArchLoot now aims to push the official launch schedule by accelerating more active technical and marketing efforts; this event could very well be the shot in the arm for BNB.
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.
Today’s live BNB price is $285.54 with a 24-hour trading volume of $1,492,207,682. BNB has been down 5.65% in the last 24 hours. The current CoinMarketCap ranking is #5, with a live market cap of $46,068,895,282. It has a circulating supply of 161,337,261 BNB coins and a max. supply of 200,000,000 BNB coins.
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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.
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.
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.
Binance ’s CEO, Changpeng Zhao, visited El Salvador 4 months ago. His company, being the biggest cryptocurrency exchange in the world, and El Salvador, being the first country to adopt bitcoin as legal tender, something big is brewing. According to the Secretariat of Communications of the Presidency of the Republic of El Salvador, Binance’s CEO is visiting the country “along with other entrepreneurs, who are interested in knowing the investment possibilities.”
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.
BNB crushed it throughout 2021 as the Crypto Coin of 2021 and cemented itself as the third more popular coin in the world by market capitalization. Not a small feat, considering the phenomenal year that altcoins had. Several projects had their moment in the sun, capturing capital, headlines, and attention. No one got near Binance Coin, though. The award was given by Arcane Research.
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.
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Binance Price History
The varying price differences of Binance Coin (BNB) can be studied better using Crypto Volatility Index (CVIX). CVIX helps analyze the price dynamics and helps to ponder on essential elements that affect the current and future Binance coin prices. 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
Binance Coin has broken the floor of the rising trend channel in the short term, which indicates a weaker initial rising rate. The currency has support at $238 and resistance at $333. Volume has previously been high at price tops and low at price bottoms. Volume balance is also positive, which weakens the trend break. The currency is overall assessed as technically positive for the short term.
Binance Coin Price Predictions 2022-2031
Coincodex predicts the Binance Coin value to drop to $270.28 in 5 days and $279.25 in one month. Meanwhile, if BNB’s growth trajectory follows the expected internet development, Coincodex forecasts the coin to trade at $376.54 by 2023 and $627.58 by 2025.
According to TradingBeasts, Binance Coin will close 2022 trading between $235.57-$346.43 with an average price of $277.14. They predict a devaluation of BNB next year, resulting in a minimum and maximum price of $193.08 and $283.94, respectively, by December 2023.
Further losses are expected at the start of 2024, but by March, BNB is predicted to begin a market rebound, trading at a mean market price of $205.45 and a peak price of $256.81. Binance Coin is predicted to maintain its uptrend afterward, with a projected average price of $309.72 and a maximum price of $387.15 by December 2024. Throughout 2025, TradingBeasts forecasts a bull market for Binance Coin, leading to a minimum market price of $350.10, an average price of $411.89, and a maximum trading value of $514.86.
Longforecast anticipates a trading range of $211-$267 and a closing market price of $227 by the end of 2022. The Longforecast BNB price prediction for 2023 projects a bear market, leading to a price range of $153-$197 by December. For 2024, Longforecast projects a significant price reversal, leading to the coin trading as high as $602 in October before closing the year at a market price of $510.
According to Longforecast price predictions for 2025, BNB Investors should anticipate pullbacks from April, resulting in a price range of $307-$381 and a closing market price of $356 by December. Going into 2026, Longforecast provides an optimistic outlook for the coin, with its value expected to exceed $800.
|Year||Minimum Price ($)||Average Price ($)||Maximum Price ($)|
Binance Coin Price Prediction 2022
The BNB market is currently downtrend, losing about 11.65% in the last week. Per our Binance coin price prediction, we expect price recoveries before the end of the year, leading to an average price of $374.55. We also anticipate a minimum price of $348.56 and a maximum value of $397.86. These price levels could result from the planned increase of the BSC block gas capacity to 200 million in Q3 2022. If implemented, a higher block gas capacity will allow faster transactions on the BNB chain and could further increase the adoption of the Binance coin.
Binance Coin Price Prediction 2023
According to our Binance price prediction for 2023, BNB will experience a generally positive market. We predict a minimum price of $377.38, a maximum price of $445.68, and an average market value of $403.18. Suppose more assets are enabled on the Binance Card in the future. In that case, it could create a positive market sentiment around the Binance ecosystem and lead to a value appreciation of BNB.
Binance Coin Price Prediction 2024
For 2024, our Binance coin forecast indicates that the coin will hit a peak price of $505.13. Investors could also anticipate an average value of $417.28 and a minimum value of $347.98.
Binance Coin Price Prediction 2025
By 2025, we expect Binance Coin to close in on its all-time high of $690.93, attaining a maximum price of $639.92. The expected average and minimum prices for that year are $488.89 and $547.25, respectively. The development of more trade services could positively influence BNB’s price in the coming years. Currently, trade services on Binance include spot trading, margin trading, swap framing, etc.
Binance Coin Price Prediction 2026
According to our Binance coin price prediction for 2026, BNB’s price will drop, leading to a minimum price of $464.11, an average value of $511.41, and a maximum market price of $543.99. We expect price pullbacks to cut across the crypto market in 2026. Interested investors can utilize the price dip to buy Binance coins at a lower market value.
Binance Coin Price Prediction 2027
In 2027, Binance Coin will make a strong market recovery from the previous year per our price predictions. We anticipate BNB trading as high as $803.47, with its minimum price being $545.03. The projected average price is $681.36, representing a 139.58% gain on BNB’s current price.
Binance Coin Price Prediction 2028
Per our BNB price forecast, the Binance coin will have a strong bull market in 2028, leading to a minimum and maximum price of $832.59 and $992.61. The projected average trading price is $904.44. These price levels could result from Binance’s significant partnerships that influence the widespread utilization of its native coin.
Binance Coin Price Prediction 2029
In 2029, Binance Coin will experience massive price surges, reaching a maximum price of $1,218.37. We also predict an average price of $1,183.28 and a minimum market value of $1,114.85.
Binance Coin Price Prediction 2030
According to our Binance coin price forecast for 2030, BNB will attain an average value of $1,299.09, with its lowest possible price being $1,258.06. The expected maximum price is $1,331.92. If Binance keeps introducing exciting features that drive investment in the BNB Chain network and the crypto market remains favorable, BNB could reach these price targets or even more.
Binance Coin BNB Price Prediction 2031
By 2031, our Binance coin price prediction indicates a maximum BNB trading price of $1,550.06, which is more than 5x the current price. We also expect a minimum price of $1,399.37 and an average value of $1,496.20.
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, the 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.
James Rothwell, VP of Global Marketing at Binance, delivers an inspirational keynote at our 5th Anniversary event in Paris. In the address, James discusses the innovation driving out Web3 and highlights Binance’s commitment to it. From the advent of fan tokens – which give people a greater connection to the things, they love across sports, music, and entertainment – to the recent crypto-powered Primavera event in Barcelona, the ability to offer fans of culture something greater is already here.
According to our price predictions, the Binance coin has a bright future, with the potential to trade at 5x its current value in the next few years. Numerous developments are ongoing in the BNB chain, which could increase BNB’s adoption and value. Moreover, the Binance cryptocurrency exchange remains the largest global exchange and could be for many years.
If further developments and collaborations continue in the Binance ecosystem, as we have had with the Binance chain, massive adoptions are imminent in the forthcoming years, which could result in BNB breaking through the $1000 mark. For instance, RevolutuX, an integrated DeFi, and Web 3.0 protocol, is just the latest invention built on the BNB chain and is set to launch in a few months.
However, while the prospects of BNB look good, the crypto market still remains volatile, and investors are reminded to do their due diligence and approach the market with the utmost caution.