BNB Price Prediction: Is Binance Coin a Good Investment?

August 21, 2024

Price Prediction

Sean Korbett

Binance Coin (BNB) is a digital currency that powers the BNB Chain. BNB Chain is an Ethereum Virtual Machine (EVM) compatible blockchain platform capable of general-purpose smart contract execution. The BNB Chain uses a unique combination of Proof-of-Stake (PoS) and Proof-of-Authority (PoA) consensus mechanisms to validate network transactions. The combination of both models leads to comparatively lower fees and faster transaction speeds on the network. What price level will the blockchain’s native token BNB reach in the future? Discover the BNB price prediction in StealthEX’s latest article.

Binance Coin (BNB) Overview

The BNB Chain blends elements of PoS and PoA to maintain the network. Users must stake at least 10,000 BNB to be selected as a validator. This setup aims to prevent bad actors from becoming validators by sacrificing some decentralization in the validation process.

BNB is a cryptocurrency native to the Binance ecosystem. Binance exchange is currently the leading cryptocurrency trading platform in terms of daily trading volume, and BNB is used to pay for trading fees, among other things, on the platform. BNB’s deflationary journey began in late 2017 with the ‘Auto Burn’ program. The program has quietly burned over 38 million tokens through quarterly burns.

The BNB token and cryptocurrency exchange Binance were created in 2017 by Changpeng Zhao. Initially, BNB was launched as a utility token for the Binance exchange and allowed users a 50% discount on trading fees when paying with it. The BNB token was first issued as an ERC-20 token on the Ethereum network. It then moved to Binance Chain, the company’s proprietary blockchain, in 2019 and eventually served as the foundation for Binance Smart Chain (BSC), which was launched in September 2020.

BNB Coin Features

BNB crypto offers a number of features within the crypto space. These are:

1. Medium of exchange. BNB can be used to pay fees on the Binance exchange, such as trading fees, listing fees, and withdrawal fees. Using BNB to pay these fees can result in discounts, which can be an incentive for traders to hold and use BNB.
2. Utility. In addition to being used on the Binance exchange, BNB is also used as a form of payment for goods and services on a growing number of merchants and platforms. This increases the utility and adoption of BNB beyond the Binance exchange.
3. Limited supply. BNB has a total supply of 200 million tokens, with a portion of these tokens being used to pay fees on the Binance exchange. This limited supply can increase the demand for BNB, as traders and users may view it as a scarce asset. BNB also ranks among the top five cryptocurrencies in market capitalization.

BNB Coin (BNB) Price History Highlights 

• 2017-2018: Binance initially created the BNB coins to enable it to raise funds through an ICO. The BNB price at the time of the ICO was 15 cents. Binance offered 100 million BNB coins for sale and raised funds worth nearly $15 million at the time in BTC and ETH. A month after the ICO, the BNB price dropped to an all-time low of $0.09.
• 2019: In 2019, BNB coin reached $38. The bearish trend that began after this continued until mid-December, with the price dropping to $12.11. During the next two years its price remained quite low for such a prominent exchange.
• 2020: In 2020, BNB started the year with its price doubling in a month and a half, reaching $27.19. After that, the coronavirus pandemic affected the market. Prices declined, culminating in a panic in the crypto market in mid-March. A bullish trend finally took shape and continued throughout the rest of the year. On 31 December 2020, BNB’s price was $37.36.
• 2021: In 2021 the coin’s price experienced a significant boost. On May 10, 2021, the BNB’s reached $690.93. After a dramatic fall, BNB rose once more in November 2021 – yet couldn’t breach previous highs.
• 2022: BNB coin price surged by 50% in late 2021 but was considerably lower in 2022.
• 2023: In 2023, BNB dropped 23% due to Binance being sued by the SEC. As of February 2023, Binance Coin was valued at around $332 – nearly 52% lower than all-time highs.
• 2024: By 3 January 2024, the value of a single BNB coin exceeded $312.13, a significant contrast from its all-time high of $600 in November 2021. In June it hit its all-time high of $720.67. At the moment, one BNB coin costs between $560 and $570.

Binance Coin (BNB) Price Chart

CoinMarketCap, August 21, 2024

BNB Price Prediction: 2024, 2025, 2030-2040

Binance Coin Price Prediction 2024

DigitalCoinPrice experts expect that in 2024 BNB coin’s price can hit a new all-time high of $1,183.27 (+119%), while at its lowest poin, it can drop to $483.01 (-10%).

PricePrediction crypto analysts are optimistic about the future of BNB. According to them, in 2024 BNB coin will cost more, albeit insignificantly: it’s expected to cost $582.62 (+8%) at its lowest point, while at its peak BNB will rise to $676.82 (+25%).

Telegaon crypto experts think that the minimum lowest price BNB can hit in 2024 is $696.18 (+29%) vs its maximum price of $780.42 (+44%).

BNB Price Prediction 2025

DigitalCoinPrice crypto analysts think that in 2025 BNB coin can reach $1,367.03 (+153%) per coin at its highest point. Its lowest price will possibly drop to $1,159.27 (+115%).

Based on PricePrediction forecasts, in 2025, BNB’s lowest price is expected to drop to $904.75 (+68%), while at its highest point it can reach $1,066 (+97%).

Telegaon analysts expect that in 2025, BNB coin will reach a maximum price of $921.13 (+71%), while at its lowest point it can drop to a minimum of $842.73 (+56%).

BNB Price Prediction 2030

DigitalCoinPrice analysts believe that by 2030, BNB coin will rise to reach a maximum level of $4,031.57 (+648%), while its minimum price will drop to $3,639.34 (+575%).

PricePrediction analysts think that in 2030 BNB will see a lowest price of $$5,618 (+943%). Its maximum price is expected to reach $7,234 (+1,243%).

Analysts at Telegaon are of the opinion that by 2030, BNB coin is going to reach $3,175.23 (+489%) at its peak and might trade at a minimum of $2,569.18 (+377%).

BNB Coin Price Prediction 2040

According to PricePrediction forecasts, in 2040 BNB will reach the current price level of Bitcoin: its minimum price is expected to be $63,693 (+11,728%), while its maximum price is going to soar to $84,525 (+15,596%).

Telegaon analysts expect BNB coin to rise to reach a maximum level of $8,659.45 (+1,508%), while its minimum price in 2040 will drop to $7,045.12 (+1,208%).

Binance Coin (BNB) Price Prediction: What Do Experts Say?

Binance continues to develop as an exchange, and BNB coin continues to develop as a token. However, BNB’s decentralization is quite low at this stage. In 2017, the BNB Beacon Chain was introduced, using the native coin BNB (BEP2). But as Ethereum was the hub of development, Binance chose to capitalize on this momentum and introduce BSC, an ERC20 token on Ethereum, in 2020. After that, BSC changed to become a different blockchain (BEP20), completely interoperable with the Ethereum Virtual Machine.

In 2022, two blockchains formally combined to become the BNB Chain. The majority of regular dApp activity takes place on the BNB Smart Chain, while staking and voting take place on the BNB Beacon Chain. Due to their requirement to employ a bridge, these two components pose a single point of failure that could endanger the entire system.

Despite this, many experts still think that BNB is going to become an even more serious player on the crypto scene. For instance, CoinMarketCap analysts believe that in 2030 BNB Coin will hit a maximum of $5,000.

BNB USDT Price Technical Analysis

Tradingview, August 21, 2024

Now that we’ve seen possible price predictions for BNB, let’s find out a bit more about the factors that can influence its price.

What Does the BNB Price Depend On?

Like any cryptocurrency asset, BNB experienced highs and lows, but each time it encountered difficulties, it was able to pass the resilience test. BNB’s extensive usage and Binance Chain governance have allowed it to stay among the biggest cryptocurrencies. When forecasting the future of blockchain technology, it is important to keep in mind that a variety of factors, such as investor sentiment, regulatory frameworks, and the adoption of digital assets, can influence the direction of the market. Another factor affecting the BNB price is broader market conditions. If BNB can come to an agreement with regulators, then the next crypto bull market could help bolster its price.

When assessing BNB coin as an investment, keep the following considerations in mind:

• Supply and demand;
• Market adoption;
• Binance ecosystem growth;
• Token burn events;
• Regulatory environment;
• News and developments.

Risks and Opportunities

Since it is necessary for users to transact on any chains that use BNB as the native currency, the expansion of the BNB chain ecosystem could further increase demand for BNB. Users of the BNB chain invariably purchase some BNB to keep in their wallets for transaction fees, much as Ethereum and its native currency ETH. This effectively lowers the quantity of tokens available on the open market. This increases demand while concurrently lowering the quantity of coins available for purchase.

However, BNB’s future is ultimately tied to Binance’s success as a profitable company, including financial, cryptocurrency, and Binance-specific regulatory risks. It is also true that beyond the hacking of Binance, the BSC chain has become a playground for scam coins, hacks, exploits, and ‘rug pulls,’ because of its simple deployment of centralized projects and unsophisticated user base. BNB remains a heavily centralized asset, and this is probably its biggest disadvantage as an investment.

Is BNB a Good Investment?

For those who think BNB is a decent investment at the current price, it might become a good investment opportunity. Since November 2021, the value of Binance Coin has been steadily declining; however, now that Binance has a stronger position in the cryptocurrency industry, the stage is set for a recovery, and this year BNB Coin has hit its all-time high.

Does the BNB Coin Have a Future?

BNB might have a bright future. Since it seems doubtful that any other exchange will threaten Binance’s dominance, BNB, the company’s native token, will inevitably see an increase in demand as the cryptocurrency market expands.

What Will BNB Price Be in 2024?

PricePrediction expects that in 2024 BNB Coin is going to hit a maximum of $677.

What Will BNB Be Worth in 2025?

According to Telegaon, in 2025 BNB will reach a maximum price level of $921.

Can BNB Reach $500?

It’s very possible that during the next bull run BNB can hit that mark and go even higher.

Will BNB Hit $700?

It’s quite possible. PricePrediction experts think that it can happen somewhere between 2024 and 2025.

Will BNB Reach 1000 Dollars?

It’s quite possible. According to DigitalCoinPrice, even in 2024 BNB Coin can reach $1,183 at its peak.

Can BNB Reach $2,000?

PricePrediction analysts think it is likely to happen in 2027, when the all-time high for BNB would be $2,363.

Could BNB Reach $10,000?

It is possible. According to a number of Binance Coin predictions, BNB will hit $10,000 after 2030.

How High Can Binance Coin Go?

PricePrediction experts expect that the maximum Binance Coin can reach will be $168,026.

Is Binance Coin Worth Buying?

It is a difficult question. In a volatile crypto market, BNB coin has posted remarkably steady growth. However, its centralization may pose a threat to its further expansion. It’s always best to do your research before buying any cryptocurrency as the market is quite unpredictable.

In order to determine if BNB is a wise investment, one must assess Binance’s historical performance, present market position, and both bullish and bearish scenarios.

Conclusion

Scalability, minimal CEX transaction fees, and seamless usability are just a few of the special benefits that BNB offers its users. However, it does this at the cost of centralization, and although BNB has become a cryptocurrency market mainstay, an individual’s conviction in the Binance environment, the ecosystem’s future, and the success of cryptocurrencies in general will ultimately determine whether or not BNB is a wise investment.

Where to Buy BNB Coin Without Binance?

StealthEX is here to help you buy BNB crypto if you’re looking for a way to invest in this cryptocurrency. You can buy BNB privately and without the need to sign up for the service. StealthEX crypto collection has more than 1500 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

How to Buy BNB Crypto: Quick-Step Guide

Just go to StealthEX and follow these easy steps:

• Choose the pair and the amount you want to exchange — for instance, ETH to BNB. 
• Press the “Start exchange” button.
• Provide the recipient address to transfer your crypto to.
• Process the transaction.
• Receive your crypto coins.

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Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.