- Binance Coin: Introduction
- BNB: Fundamental Analysis And Tokenomics
- Binance Coin Price Prediction: Price History
- Binance Coin Price Prediction: Technical Analysis
- Binance Coin Price Prediction By BlockchainReporter
- Binance Coin Price Prediction 2022
- Binance Coin Price Prediction 2023
- Binance Coin Price Prediction 2024
- Binance Coin Price Prediction 2025
- Binance Coin Price Prediction 2026
- Binance Coin Price Prediction 2027
- Binance Coin Price Prediction 2028
- Binance Coin Price Prediction 2029
- Binance Coin Price Prediction 2030
- Binance Coin Price Prediction: Industry Experts
- Is BNB A Good Investment Option? When Should You Buy?
According to our Binance coin price prediction, BNB may soon spark fresh surges in the price chart after recovering from the FTX’s downfall.
The crypto space is known for its highly volatile nature, creating fear for traders in placing a position. Moreover, the current bear market after the FTX’s collapse has created a challenging situation for investors in making a stable investment decision. However, several analysts predict an overwhelming bullish momentum for Binance coin as the digital asset is supported by prominent players in the crypto market. FTT’s collapse, which created turmoil in the market, has plunged BNB hard to the bottom line from its monthly highs. To make a stable profit during the current bearish mud, our Binance coin price prediction aims to bring its project analysis and expected future prices with an in-depth technical analysis of the current trend to make the best strategic plan for investing in this coin.
Binance Coin: Introduction
By daily trading volume, Binance is the biggest cryptocurrency exchange on the planet. Its native coin, BNB, has gained significant dominance in the space. As per the market capitalization, BNB ranks among the top five biggest currencies and tokens. However, the BNB price has fallen to its lows due to the downbeat mood of the market. The Binance ecosystem extends beyond the exchange and provides more operations to the crypto space, including the blockchain-based initiatives Binance Chain, Binance Smart Chain (BSC), Binance Academy, Trust Wallet, Binance Research, and Binance Launchpad.
Changpeng Zhao and He Yi developed the BNB coin in July 2017. They first began Binance as an Initial Coin Offering (ICO), but today, BNB has become one of the most significant crypto coins globally. Let’s check out its current market details to better clarify our Binance coin price prediction.
|Price Change 24h||-0.53%|
|Circulating Supply||159,973,295.72 BNB|
|All time high||$690.93|
|All time low||$0.09611|
|Binance Coin ROI||+235157.88%|
BNB: Fundamental Analysis And Tokenomics
BNB coin is based on an ERC20-standard token, and the Binance ecosystem is facilitated to support a range of utilities, such as trading fees, listing fees, exchange fees, etc. The whitepaper states: “In our view, there are fundamentally two different types of exchanges: the ones that deal with fiat currency; and the ones that deal purely in crypto. It is the latter one that we will focus on. Even though they are small now, we strongly believe that pure crypto exchanges will be bigger, many times bigger, than fiat-based exchanges in the near future. They will play an ever more important role in world finance, and we call this new paradigm Binance; Binary Finance.”
Several decentralized finance (DeFi) projects are already ruling 2022, and BNB is no exception. However, Binance does not implement the smart contract technology; instead, it uses the Tendermint Byzantine-Fault-Tolerance (BFT) consensus mechanism, which enables multiple nodes (Validator nodes, accelerator nodes, etc.) to be used in transactions, validation, and authentication processes at different phases. Let’s now find out some of the crucial characteristics of the BNB token.
- BNB coin is the primary method of fueling the BSC network, including trading fees on the Binance DEX.
- Since it is a well-established method of paying for the goods and services in the Binance partner network, BNB is devoted as a digital currency.
- BNB coin paves the way to unlocking different functionalities and the unique access to select IEOs created on the Binance platform called Launchpad.
- Binance Smart Chain (BSC), a chain compatible with smart contract technology, is also powered by BNB cryptocurrency.
Binance coin has been able to crack crucial partnerships in the crypto business, and it is widely adopted by several governments and regulatory bodies. It made 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 user base.
Binance Coin Price Prediction: Price History
Before we dig in further, it is essential to know about Binance coin’s price history to get a rough idea about its previous rollercoaster journey and expected future potential. Since its launch in 2017, the token has had a tremendous journey, generating significant return on investment (ROI) for investors. However, it is to be noted that BNB’s price history is not an indicator of our Binance coin price prediction.
BNB coin went live in the crypto market with a trading value of $0.1059 on 26 July 2017. The token initiated a bullish trend in the next few days as it reached $2.5 on 27 August. However, the bullish trend lasted for a short period as it traded in a bearish consolidated range between $1.2 and $2 for the rest of the months.
In 2018, the BNB token sparked massive surges in the price chart as it touched $21.48 on 12 January. The BNB token then dropped to $6.8 on 6 February as it witnessed a slight selling pressure which usually happens to new coins. However, the token made a slight upward retracement to $15 on 24 June and continued to hold this price range for the next two months. By the end of October, the BNB token started dropping as it ended the year at a price below $5.
The bearish trend further extended in 2019 as it continued to trade below $4 in January. However, the BNB token witnessed a highly volatile trading session for the next few months. BNB went for an uptrend by the beginning of February, breaking its resistance at $20. Binance coin reached $36 on 26 June and sustained its price level above $30 for the next few weeks. BNB token then slumped to its bottom near $15 by the end of 2019. In 2020, the token did not witness much price action as it had no use cases for crypto investors.
In 2021, the entire crypto space ignited a fresh bull run which pushed the market to the North. The BNB token rose to a high of $294 on 22 February, and with a slight downward fluctuation to $220, it further extended its bearish momentum as it touched its all-time high of $690 on 10 May. However, the token made a sharp fall to $280 in the next few weeks. The Binance coin made a wide fluctuation in the price chart as it went to a high of $500 on 24 August. With a sharp drop from this price level, the BNB token reached $638 on 7 November. The crypto market then initiated an overall bearish trend after being affected by Covid-19 in 2022. The BNB token’s bearish trend got triggered in May, and it reached $209 on 17 June. The bearish trend is further accelerated by the recent collapse of the FTX exchange.
Binance Coin Price Prediction: Technical Analysis
The project analysis of the BNB coin is overwhelming, and it can soon end the tears and tantrums of the current bearish market and aim for an incredible high in the future. However, the recent bankruptcy filing by FTX has created a black hole in the crypto market, forcing BNB investors to liquidate massive positions and create selling pressure. Hence, our Binance coin price prediction aims to bring you an in-depth technical analysis using advanced indicators to identify the current market trend and decide your investment option.
According to CoinMarketCap, the Binance coin (BNB) is currently trading at $270. Our Binance coin technical analysis reveals that BNB may soon skyrocket to new highs after a short-term bearish trend. Looking at the daily price chart, BNB struggles to trade above $300 as it continuously faces rejection near its immediate resistance level of $280. The EMA-20 trend line has dropped near the EMA-100 trend line, and BNB is making another attempt to break the $280 barrier. BNB has witnessed a significant liquidation and accumulation in the dip as the FTX’s collapse has brought FUD (Fear, Uncertainty, Doubt) to its long-term investors. Due to this negative sentiment, the Balance of Power (BoP) indicator trades in a negative range at 0.6, which may force BNB to test its support level at $260.
However, the RSI-14 indicator trades in a slightly bullish range at the level of 41, which may push BNB to the upside if BNB makes a bullish reversal from $260. Moreover, the MACD line also trades in a consolidated range without dropping further below, hinting at the control of buyers. If BNB breaks above its 23.6% Fib retracement of $290, it may ignite a clear upward road to its Bollinger band’s upper limit at $310, above which it may trade near its strong resistance at $350. Conversely, a further drop below $260 may trigger a downtrend for BNB as it can sharply fall to its Bollinger band’s lower limit of $205. If BNB fails to hold its price above $200, it may continue its bearish bloodbath further and trade near $150.
Binance Coin Price Prediction By BlockchainReporter
Binance Coin Price Prediction 2022
According to our Binance Coin price prediction for 2022, BNB is predicted to attain a maximum value of $309.84 with an average trading price of $295.89. Our technical analysis reveals that Binance Coin can go as low as $284.95.
Binance Coin Price Prediction 2023
Our Binance Coin price prediction for 2023 expects a maximum trading price of $490.37, with an average trading price of almost $421.63. Binance Coin might retrace downward with a minimum price of $409.79 by the end of 2023.
Binance Coin Price Prediction 2024
BNB boasts of developing robust and overwhelming fundamentals. Our Binance Coin price prediction for 2024 predicts that the coin will continue its bullish momentum and Binance coin will likely achieve a maximum price level of $705.13. Binance coin might record a low of $595.78, with an average trading price of $612.64.
Binance Coin Price Prediction 2025
Our Binance Coin price prediction for 2025 anticipates a minimum value of $848.48 and a maximum value of $1,042.62. Our Binance coin price forecast for 2025 predicts an average trading price of $872.99.
Binance Coin Price Prediction 2026
Binance Coin may witness an exponential rise in 2026 and bring an excellent return on investment to its long-term holders. Our Binance coin price prediction for 2026 expects a maximum price of $11445.71 with an average trading price of $1,196.59. Binance coin may trade at a minimum value of $1,152.94.
Binance Coin Price Prediction 2027
The crypto market may soon overcome its current hurdles as it is building potential for a bullish comeback and is expected to skyrocket in the next few years. Our Binance Coin price prediction for 2027 suggests that BNB may reach a maximum trading price of $2,050.81. BNB may trade at an average price of $1,825.08 with a minimum value of $1,777.22.
Binance Coin Price Prediction 2028
Our Binance Coin price prediction for 2028 states that BNB may touch a maximum price of $3,068.15 and an average trading price of $2,626.16. The minimum value for the BNB cryptocurrency is predicted to hit $2,553.16.
Binance Coin Price Prediction 2029
In the upcoming years, Binance coin may attract powerful partnerships due to its solid fundamentals and can push its price to the North. Our Binance Coin price prediction for 2029 expects a maximum price for this coin to be $4,447.7 and a minimum price of $3,601.49. Binance coin may reach an average value of $3,706.53.
Binance Coin Price Prediction 2030
Depending upon the future market sentiments, Binance coin can see a maximum price level of $6,404.65 with an average trading price of $5,180.08. However, the Binance coin is projected to hit a minimum value of $5,031.82 by the end of 2030.
Binance Coin Price Prediction: Industry Experts
According to Trading Beasts’ Binance coin price prediction, BNB price is expected to reach $259.698 by the beginning of January 2023. The expected maximum price may be around $324.622, with a minimum price of $220.743. In 2024, it is predicted that the Binance coin will reach a minimum value of $323.581 and a maximum value of $475.854, with an average trading price of $380.683. By the end of 2025, BNB’s price is predicted to reach a minimum value of $401.278 and a maximum value of $590.114. The average price of BNB can be $472.091.
DigitalCoinPrice’s BNB price forecast states that the price of BNB is expected to exceed $868.78 in 2024. By the end of the year, BNB is expected to reach a minimum price of $790.78. In addition, the BNB price can secure a maximum price level of $954.75. In 2025, BNB is expected to surpass $1,138.28. By the end of the year, BNB is expected to reach a minimum value of $1,030.23. In addition, the BNB price is capable of getting a maximum value of $1,178.23.
Is BNB A Good Investment Option? When Should You Buy?
Looking at its fundamentals, BNB is a worthwhile investment as it maintains a stable price amid the market downtrend. Binance coin proved to be one of the most talked about and significant coins in the crypto space due to its robust mechanism and use cases. Keeping this in mind, it is wise to say that BNB can be a profitable investment option. BNB can surely bring a great return on investment if invested in the long term. Our Binance coin price prediction suggests an entry point at $250 for a stable profit in the next five years.
The Binance coin has registered excellent glory within a short time as more applications and integrations are built on the smart chain. It has several use cases, making it engraved in the crypto trading experience of several daily traders using the Binance crypto exchange platform. The price predictions of BNB have received mixed reactions from the market, and most of them are optimistic as the token shows healthy growth behavior, and the trading platform continues to expand worldwide. However, its price can change its mood at any time and investors are advised to do their own research and conduct investment advice from experts’ opinions before investing in the volatile market.