We bring you the best of bnb price review, bnb price movements, bnb price analysis, and much more. All in addition to our BNB price predictions and movements. Binance (BNB) coin’s profile is driven by multiple unique factors and its primary value has been derived from trading discounts.
Binance has a market value of $ 16.13 and a total market cap of $ 2,385,100,900 and currently ranked at #8 of all cryptocurrencies.
The price for today is -2.33%, with 24 Hour volume sales of $ 16.13.
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Thanks to the parent company of Binance Coin, it became a popular investment choice among traders and investors. However, it is still not easy to give accurate price swings since BNB’s development is still budding and the unseen variables may impact its growth.
Regardless of the Coronavirus pandemic, Binance shows strength which revealed in its hiring more than 100 new employees. This has become a stark difference when Bitcoin got swept up from the impending economic crash which led to a 40% loss in just one day.
The crypto exchange also mentioned its first step into the Korean market with a prospect of launching its Bitcoin options trading.
Considering the rapid growth and expansion of BNB’s parent company, the coin appears to be a safe bet for any smart investor. With the nature of the market as being extremely unpredictable, price predictions became more involved as being more of a guesswork and luck rather than a data driven price estimate. There’s no harm in speculating though.
Looking at the WalletInvestor’s data, it estimated that BNB will go up almost twice to $28.18 within the year. Known for its optimistic price speculation, TradingBeasts speculated that it will rise slightly to $21.53 by December 2020 which surprisingly means that it will drop twice the amount of the current value.
BNB may fall to $5.80 before the year ends, as Cryptoground speculated.
If the promising growth of BNB continues to persist until 2025, it is safe to conclude that even its crypto exchange, Binance, works reliably well with its number of crypto users continuing to grow. Taking that into account will mean for BNB a worth of an increase of range around 10 to 100 times from its current highest price peak. If it is so, one BNB may cost $150 per coin at least.
According to DigitalCoinPrice, 2025 will not be a bullish year for BNB with a value of $50.8 per coin.
Talking about BNB price prediction involves several factors and four comes to mind: trading volume, outside usage of the exchange, coin burning and its broad range of applications.
The current trading volume speaks about the number of active trading pairs as well as the transaction flow within the Binance Coin. This means the discount on trading fees and if it maintains good price stability. Outside usage of the exchange involves how it expands its user base and growth. The more favorable it is, the better.
Like Bitcoin and Litecoin, BNB also undergoes coin burning which is relevant to prevent inflation and rise of value. This is critical to gradually reduce its supply while the demand remains afloat or sometimes, increase it. Which will cause the BNB price to turn upward.
At the end of the tunnel, looking into current data may not guarantee accurate prediction for BNB price movement since the seen and unseen influences are naturally fickle in the crypto market.
BNB or Binance Coin was created by Binance, a Chinese cryptocurrency exchange. The exchange aimed to serve a coin to be used in its trading platform and receive its loyalty program. Initially, BNB was issued on the Ethereum blockchain as an ERC 20-based token.
Shortly after its launch in July 2017, BNB received favorable price predictions according to CoinMarketCap. It didn’t take long for BNB to be the highest trading volume among the list of crypto exchanges.
Within a five-month period of late-July to early-January 2018, BNB proved to be a very successful cryptoasset which grew from around $1 per coin to $23.45. The trend slipped into a downward slope which is typically seen in most other cryptos in the market after reaching the price peak in winter.
Another promising aspect of BNB was how it can pick up its pace towards a positive price range amids the market downfalls which was also not a typical attribute in other cryptos. Usually, when a crypto price point starts to decline, traders will be inclined to sell it. In this case, however, the majority of the crypto coins are only possible to be traded in pairs with BNB or Tether/Bitcoin. This resulted in a somewhat unshakeable position for the BNB price to fall when the other cryptos were dropping in value.
Traders buy BNB as a tool which has high liquidity that helps to ensure the capacity to exchange it when the other cryptoassets starts to show promising turns. This became evident when the market steadily grew and few cryptos became more valuable as it developed.
Another speculation on why BNB became a promising investment option can be seen from a price chart dated from Jan 2018 to Feb 2019 from Coin360. A clear visualization between Binance Coin and Ethereum provides a comparison:
In the same time price interval, BNB emphasizes more stability than Ethereum amids its current market setting. This led to many price predictions for BNB to be positive due to its favorable potential. Not only is it useful for speculating the market movement, it also serves a gateway to the other cryptoassets for its users.
2019 was an impressive year for BNB. The coin price rose its value as one of the top 10 cryptocurrencies which started in February. This became the year when BNB has overtook Bitcoin a high record on its historic price peak.
The value continued to rise in April which was related to gaining its historic maximum of $25. It was also around this time when Ledger Nano S wallet was counted as one of the coin’s listings.
It was until June when BNB increased from $25 to $35. However, BNB’s promising growth stopped after hitting $35.