Many people dread trading in cryptocurrencies due to their volatility. Despite that fact, those who have sophisticated tools are still constantly interested in cryptocurrency. In recent times, the attraction to the crypto market has increased, mainly because fiat currencies couldn’t deliver on their promises, especially in the current pandemic.
In contrast, the crypto market has shown big middle to long-term gains, and the average price has notably increased in recent times. This article analyses the current Binance coin price and the Binance coin price forecast for the foreseeable future.
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. 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 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 are 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 they 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 price prediction 2021-2025
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%. The following year (2020), however, 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.
Binance price prediction from market experts
A significant characteristic of many cryptocurrencies is volatility, and the Binance coin suffers from the same. Binance coin has, however, 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.
Trading Beasts predict a BNB price of $900 for a significant part of 2024. They indicate that the Binance coin will be priced at $715.52 by 2025 and hit $1000 by 2028.
Wallet Investors forecasts Binance coin is a good investment option. They say that the ROI after 5 years can be as high as 93%.
Binance price forecast
It should be noted that the research done for this Binance coin price analysis was based on technical analysis alone. The Binance platform is stable to a large extent since Binance operates on the Ethereum blockchain. The average Binance coin price has tripled in value in the last couple of months and is now trading as one of the hottest assets. There are high hopes for the BNB token, and in the previous few hours, the BNB price has been trading around $438 and has a market capitalization of $73,688,696,071.76.
The rumors surrounding partnerships for Binance are starting to gain momentum. If that happens, it is expected that the Binance DEX will be the primary service powering the Binance chain mainnet. It is assumed that the dPOS will control the BNB blockchain with a general agreement that 11 nodes will be decentralized through pBFT. It is even possible for Binance coin to leave the Ethereum blockchain and place itself on Mainnet post-launch DEX.
Binance, earlier this year, signed Brazilian partnerships worth $20,000 in loans from more than 50 investors. Alliances seemed proof that BNB has a promising future. However, the changes discussed above may cause a bullish trend, and the BNB prediction forecast is expected to be $850 by the end of 2021. BNB holders are also likely to get a discount on their trading using Binance to pay for exchange fees.
Binance coin price chart
BNB price prediction for the next five years
It is essential to know that the price prediction of crypto assets can be an arduous task because of their volatile nature, and as such, whatever you read here should not be taken as investment advice. The pandemic has primarily affected the price of cryptocurrency exchange, and crypto trading has been much more unpredictable as a result. Apart from that, there has been a bear run in recent times. Binance coin has somehow survived the storm, and there is positivity in the crypto market, with the token looking to have a bright future.
However, if we go by the past price movement and then combine factors that govern it, it can be said that BNB price prediction will have a good development in the coming years.
Binance coin price forecast 2021
Binance recently passed its resistance level and hit an all-time high of $690.93. It is also essential to know that the Binance coin forecast for 2021 was previously set to $850. Still, because of the remarkable increase since February and the recent price rally of the market cap (the market cap was at a time larger than Santander, UBS, and the Bank of Montreal), a pessimistic approach is that BNB price prediction may circle $800 by the end of 2021.
Binance coin price forecast 2022
Binance crypto exchange has a price prediction of $1000 by the end of 2022. It is expected to have an ATH of $1010, and the lowest it should get to should be around $870.
Binance coin forecast 2023-2025
BNB’s future is mainly dependent on the growth of the Binance exchange platform. The current scenario suggests that the future of BNB is bright, and the price prediction is that we can always see new ATHs in the coming years. We forecast that the BNB price might cross the $1200 mark by the end of 2023. If the position of BNB on the market is favorable going forward, the price might get to $1700 when 2024 ends.
There are technical indicators to show that the BNB will record immense growth. The price prediction is that it might get to the $2000 mark. However, with further analysis, a forecast puts the Binance coin at about the $1850 mark.
Whether Binance continues to dominate the current cryptocurrency exchange industry remains to be seen. The IEO model was recently launched, and other projects like BitTorrent, Fetch.AI, Celer, Matic, Harmony, Elrond, WINk, Perlin, Band, Kava, and Troy are significant reasons why BNB recently rose to prominence.
The launchpad also enables the Binance chain to give us a simplified and impeccable base which can help make the coin increase in value of the exchange in the future. This system is in contrast to the smart contract code, and ultimately, the forecast is that BNB will continue to rise, steadily and as such, a trader or an investor could consider it a good investment.
Blockchain specialists believe that IEO is the result of market evolution. It deals with security issues such as hack attacks and frauds and reduces the spending of the startup organizers. The risk of IEO is much lower than that of an ICO.
The future of BNB depends on the growth of the Binance Exchange platform. And as per the current scenario, Binance Coin’s future looks bright, which could lead to new highs. And hence, as per our BNB price prediction, the BNB price might cross $1850 by the end of 2023.
Is Binance Coin a good investment in 2021?
Binance coin is one of the cryptocurrencies with fast growth, even recently beating the likes of Ripple (XRP), and is currently has a market rank of #3 on the coin market. Even apart from that, it is the world’s largest crypto exchange (the Binance app). BNB’s ranking has made many market enthusiasts have some form of optimism about the coin.
What will the Binance coin be worth in 2025?
Because Binance coin has a bright future, it is expected that Binance coin will be worth around $1800 in 2025.
Investment in Binance Coin (BNB) is profitable or loss-making?
There are technical indicators to show that Binance coin (BNB) is a profitable investment. Forecasts also indicate that Binance Coin is good.
Where else can I use BNB?
Many real estate firms like Propy accept Binance coin (BNB) as payment for property transactions. Binance coin can also be used as a payment method on platforms made by blockchain startups such as crypto point-of-sale solutions provider Pundi X, blockchain payment company Crypto.com, and private nightclub MORE. Rebates can also be earned in the form of BNB through Coinbates.
Why do I see Binance (old) in my Exodus wallet?
If you have not yet swapped your old tokens for the new mainnet ones, you should see two wallets in Exodus that will hold both the old and the new Binance coin just like this:
Binance (old) – old token
Binance Coin (BNB) – new token
How do I deposit a Binance Coin (BNB)?
The moment you activate the dropdown menu, you should see your profile, click on “Deposit,” and you will be directed to the deposit page. Once you get to the deposit page, you will select which coin you want to deposit. Binance supports the deposit of over 150 cryptocurrencies.
However, you will see a “Wallets” button at the bottom of your screen after you log in on mobile. Click it, and it directs you to your wallets page, then selects deposit and after you are redirected to the deposit page, you choose or search for the coin you want to deposit. You then follow the steps you are directed to follow, and your coin should be deposited.
How do I check my balance?
If you want to check your balance on Binance, you log in and go to the “Funds” section, and then you go to the “Balances” subsection. You will then see a list of cryptocurrencies; there are different coins, usually very long. On the left part of your screen, you will see the icons of each crypto coin and the name,
On mobile, however, you log in and go to your “Wallets,” below the deposit button, you will see your “Portfolio,” above the deposit button, you will see your “Total Value (BTC).” There, you can check your balance.
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 as of April 2021 been distributed. Binance whitepaper says that half of the top supply was used for the ICO and public sale of the token.
Is the BNB coin available to trade on Coinbase?
No, but BNB coin can be added to your watchlist; you can read related news on it and do more with a Coinbase account.