Binance Coin Price Prediction, Will the Price Rally to $1000 in 2021?
Have you heard of Binance Cryptocurrency Exchange, one of the most preferred platform to trade with. If yes, then Binance Coin (BNB) is the native coin that acts as a utility token, used to pay transaction fees. The swelling adoption of the DEX platform of Binance, Binance Smart Chain(BSC), it has positively impacted the BNB price.
The coin which can be traded with other assets like Bitcoin, Ethereum, etc , rallied nearly 1400% in 2021 and attracted many strong hands. Launched initially as an ERC-20 token, BNB was later migrated on its own blockchain, Binance Chain.
Interesting, right! Now after a breif introduction, do you wish to hold some BNB coins? Yet unsure of the future price movements or want to know whether it is a good investment option?
No worries, this composition intends to accumulate all the information about the token, previous price movements and the future predictions running in the market.
First let us peel the layers of some basic information about Binance.
Table of contents
|Market cap||$ 76,646,865,720.0000|
|Circulating Supply||$ 154,533,651.9000|
|Trading Volume||$ 7,688,475,504.0000|
|All time high||$ 610.0600 April 12, 2021|
|All time low||$ 0.0398 October 19, 2017|
Binance Coin (BNB) Fundamental Analysis
Binance Coin (BNB) is the crypto coin of the Binance exchange platform. It was launched in 2017 by CEO Changpeng Zhao with co-founder & CTO Roger Wang. The name Binance is a combination of binary and finance. In the year 2019, many businesses accept BNB as a payment.
Basically, the BNB token lets you earn discounts on the services of the Binance exchange platform, which later becomes a decentralized exchange of blockchain assets. BNB also offers users access to advanced features to be used on the new decentralized exchange.
BNB Price Prediction 2021
By following the bullish trend, BNB continued to trade at $37 at the start of 2021. As the marketers concentrate on buying the Altcoins, BNB might hit the $700 mark by the end of June and the price might swing further. With certain fluctuations, the price may continue to be in the range between $500 and $700 throughout the year. By the end of 2021, BNB might be traded at the $800 mark.
BNB Price Prediction 2022
BNB might start the year 2022 with a trading price of $700. On a bullish note, it is expected to reach $1000 by mid-June and might continue to be at the consistent level for several months. It is expected that the price might trade at $1800 by the end of 2022.
Binance Coin (BNB) 5 Years Price Prediction
In 5 years, BNB might continue to surge and it may break all its previous price records by touching the new height. Binance might introduce new features to its trading to enhance the minds of the investors to invest in BNB as it introduced some of the features like Asset Conversion, Cross Collateral, and Price Protection. In 5 years, BNB might reach the $5000 mark.
BNB Market Prediction
According to WalletInvestor, the price of Binance could grow by $17.31% over the next year, hitting the values in between $602.925 and $677.465 in the coming year. The price will remain consistently above to its current trading price and reach $1395.85 by end of 2026
According to DigitalCoinPrice, BNB will soar to a staggering $718 by the end of 2021. The price is expected to hit $1427.49 by the end of 2025.
The price is expected to trend in between $934 to $1159 by the end of 2021, which may surpass $1700 by the end of 2023.
According to captianaltcoin, the price may reach more than $500 depending on the Bitcoin price by 2021
The BNB price continued to grow with the start of 2021. With certain fluctuations, BNB might reach $700 by the end of 2021. The price may increase if the company announces any new improvements. It might be a good investment for the future. BNB might hit $1K in the future.
Historical Market sentiments
Binance coin entered the market on 25th July 2017 with the trading price of $0. Later on, the price started to improve and reached $3 at the end of August. With certain fluctuations BNB ended 2017 with the trading price of $8.
The price peaked to $23.25 in the month of January 2018 and dropped close to $6 in February. Later flipping the bearish trend, the price gained more than 200% and hit more than $16 by mid 2018. However, the rally was short-lived and the price plunged back below $5 and closed the yearly trade for 2018.
The BNB price initiated the 2019 trade around $6 and initiated a bull rally. By the mid of 2019, in June, the price surpassed $30, however, the price dipped to $15 by October. Since the dip, the price maintained the similar trend and traded below $15 by the end of 2019.
The price surged from $13 to nearly $20 in January and set a new high breaking the upper resistance levels. However the price swelled to $25 in February and before it could head towards the next target, the bearish divergance outspread the market.
The price fell rapidly below $9 in March, however, recovered to some extent to reach $18 by the end of April and rose to $23 by the end of August. Shockingly, the price plunged to $19 by early September and further spiked to $31 in mid-September. As the expansion of Bitcoin’s price rally, BNB climbed to $32 by the end of November. With certain price swings, BNB traded at $37 during the end of December 2020.
The price surpassed $40 in the first week of January and following a steady rally, the price smashed $50 within a month. The price gained an extreme bullish momentum and rallied above $100 in just a couple of days. Since then the price kept on surging, smashing the barriers at $200, later at $300 and $400, however, it amazed the entire crypto space by smashing the All-time high at $637.44 on April 12, 2021. Despite a slight pull back, the price still trades above $500 strongly.
Binance Coin (BNB)’s governance is Centralized>hierarchical.
Yes. The long-term earning potential is +15.11% in one year.
There are many places to buy and exchange Binance Coin like coinbase , wazirX , Binance exchange and more.
BNB is basically used to pay the transaction fees on Binance exchange which is also traded with the other cryptos as trading pair.