Binance coin price prediction | CoinCasso Exchange
Binance Coin Price Prediction Eng

The crypto world and its news are dominated by Bitcoin, Ethereum and underdogs such as DogeCoins; some of this spotlight is due to longevity and value, and some of it is only due to the vagaries of eccentric billionaires.

However, if you scratch the surface and open any crypto exchange website, you will see it populated by 100s and 1000s (currently, there are over 4000 cryptocurrencies in circulation) of other cryptocurrencies.

In this article, we will talk about one of the Top 5 crypto coins – Binance Coin (BNB), which until recently occupied the Number 3 spot without any competition. Binance or BNB is linked to the Binance cryptocurrency exchange that sees a daily trading volume of over $60 billion!

What is Binance (BNB)?

 Launched in July 2017 by the CEO of Binance cryptocurrency exchange, Changpeng Zhao, Binance Coin is the first cryptocurrency to be issued by a cryptocurrency exchange.

It was launched via an ICO (initial coin offering), wherein coins were allocated to a select group of people such as investors, founding team, and some parts were sold to the public. 100 million coins were sold to the public at 15 cents per BNB and raised $15 million in total, giving the entire platform a fresh injection of funds to grow.

A total of 200 million BNB were created for the ICO, and apart from the 100 million offered to the public, the rest was distributed amongst the founders and angel investors.

Binance Coin Bnb Logo

What is the BNB Technology Stack?

Binance Coin was initially being run on an ERC-20 token that operated on the Ethereum network. However, since mid-2019, it transferred to Binance Chain, a blockchain launched by Binance. The switch made it more centralized but faster, capable of a few thousands of transactions per second.

Binance coin uses the Tendermint byzantine-fault-tolerant (BFT) consensus mechanism and does not support smart contracts. The BFT model is based on a multiple node system that uses the combined power of Validator nodes, Witness notes, Accelerator nodes, etc., to help in transactions, validation, and authentication processes.

What is Binance Coin used for?

 Originally issued to Binance exchange users to trade and pay fees on the cryptocurrency exchange, Binance Coin is also used extensively beyond its parent exchange – usually for financial activities such as :

 1. Transaction fee on Binance

As an incentive, BNB owners get a discount while using Binance coin for their fees.

 2. Trading

BNB can be traded or exchanged for cryptocurrencies outside the Binance exchange on other platforms.

 3. Convert crypto dust

For small miners and investors, Binance exchange offers to convert ‘cryptocurrency dust’ (tiny amounts of cryptocurrencies that cannot be converted into money) into BNB.

 4. Make payments for services

As BNB becomes more popular, it is used widely for transactions such as credit card payments (where allowed), some niche areas of entertainment and even for booking flight tickets and hotels.

 5. Loans and transfers:

Just like traditional cash or an asset, BNB can be used as collateral for loans on certain platforms.

 6. As an investment

As one of the Top 5, BNB is often viewed as an investment in itself. As a currency, it facilitates  Investment across several platforms to invest in stocks, ETFs, and other assets using Binance Coin.

(PLease put in a quote style box)

“From an earnings standpoint, Binance DEX will not directly increase profitability for Binance, but it will certainly increase the utility of BNB in a big way. That should be good for BNB holders. Binance is also a larger holder of BNB, so we benefit the same way as all BNB holders. The more people using Binance Chain, the more value is created, or the more successful we all become.” –Changpeng Zhao, CEO, Binance

Biance Coin

Binance Burn Feature

No Binance Coin Price prediction is complete without taking into account the regular ‘burning’ of coins the platform carries out.

Every 3 months, Binance – the platform – uses a part of its profits to buy back and burn, i.e. destroy completely, Binance Coins. The aim is to burn 50% of the total supply to cap the supply of BNBs, thus making them more valuable. It is an ingenious way to give your loyal users a dividend!

Binance Coin Price Past Performance

 A phenomenally popular cryptocurrency, Binance coin had 10 million users within a year of its launch.

 It started in July 2017, launched at $0.15/BNB, and dropped to an all-time low of $0.10/BNB before taking off and touching $ 2.6 on 23 August. In numbers, it might seem low, but in percentage, that is a truly MASSIVE gain. After that, BNB went up and down till the big crypto boom of 2017 pushed it well over its previous resistance level.

Binance Coin started 2018 on a high of $25.18 before crashing to $5.52 less than a month later. The rest of the year was a slow repeat of the same cycle with steady declines following slow upticks, till the 2018 crash of Bitcoin when BNBs also collapsed down to $4.12 in early December.

2019 started on a bullish note for BNB, and Binance Coin price predictions stayed positive. The bull run continued till mid-2019, and in June, BNB hit a new all-time high of $39. Then onwards began a long slide down with BNB ending the year at $12.

Start With Crypto Today

Following the familiar pattern, BNB started 2020 on a good note. And reached $27 by February. Then came the Covid-19 pandemic, and the market crashed into a panic in mid-March. Once the first lockdown settled down, thirsty investors turned to crypto to park their cash, and a bullish trend finally took shape and continued through 2020. On New Year’s eve 2020, Binance price was around $37.

2021 was another price adjustment waiting to happen. Bitcoin, as well as other cryptos, had soared to unimaginable heights, and the market interest was at an all-time high (Binance Coin price was at an all-time high at the beginning of May 2020 at around $680).

In this over-inflated bubble came Elon Musk’s barb-like tweets that let out some of the air. But the bubble burst for real when China announced a crackdown on cryptocurrency-related services by banks and mainstream financial institutions. The resultant market crash didn’t spare any coin, and Binance nosedived to $210 in a matter of weeks.

The markets are picking up again, and after hitting rock bottom, the Binance price is inching upwards and picking up speed. BNBs are now hovering around $500/BNB.

So, what does this mean for the future?  

Well, the cryptocurrency market is picking up again as we write this piece. And Binance is riding the bullish market sentiment as well. However, the all-time high of close to $680 is proving to be a hard-to-break resistance level.

BNB has been traditionally seen to be locked in the pattern followed by Bitcoin and now is no different. However, it doesn’t have the market value or stability of BTC, making its situation even more uncertain and fluid. The best strategy is to hold on to your BNBs and wait and watch.

Prediction site Wallet Investor (and a few others) remain optimistic of BNBs immediate and long term future. Most sites and analysts project that BNB will reach the $600 mark before the year is out and grow from there.  In fact, before the crash, Binance Coin price prediction pegged it at the $1,000 level. The coin will certainly reach that target; the question is HOW SOON.

Interested in getting yourself a BNB or two?

Well, you can head over to our cryptocurrency exchange at CoinCasso. Don’t forget to browse our website for more information as well as related services in the crypto ecosystem.

Buy Crypto Coincasso

Frequently Asked Questions

Is Binance a Safe Crypto?

The predictions for Binance Coin Price – and the entire crypto landscape – are all positive. Analysts see steady growth, especially in the long run. So holding on to your existing BNBs or buying some more is a good idea.

Is Binance Coin a good investment?

Yes, while in the short term, market volatility is keeping everyone on their toes, Binance is a popular option for many coin investors. It is backed by the Binance crypto exchange, one of the most popular ones, making it a safer bet than most other cryptocurrencies. However, investing is a decision that must be made with caution and knowledge and must be aligned to your overall risk tolerance. The general rule of thumb is – never to invest what you cannot afford to lose.

How much will Binance coin be worth in 2022?

A bounce-back bullish streak is predicted in 2022. The forecast sings widely, and while the super optimistic analysts predict that BNB will continue to rise until October, when it is expected to peak at $3,740, the more moderate voices predict BNB ending 2022 in the range of $800 – $1000.

What will BNB be worth in 2023?

 Most crypto pundits agree that overall, BNB will continue to grow in value, and 2023 will see modest gains to end the year 2023 between $1000 – $1500 per BNB.

What will the Binance coin be worth in 2025?

Every Binance Coin price prediction site has a different number ascribed to BNBs. But all of them agree that the future of the BNB coin is bright. One estimate puts Binance Coin at around $1800 by 2025; another takes it all the way up to $4,500.

Where can I buy BNB?

Naturally, the first port of call for Binance buyers would be the Binance crypto exchange. But if you don’t want to become a Binance user, other cryptocurrency exchanges such as CoinCasso also offer BNB for their buyers and sellers.

Can you transfer money from Binance to your bank account?

Yes, like most other cryptocurrencies, you can convert your BNBs into cash anytime you like. You can do it on CoinCasso Exchange.

Create an account and start trading right now.


Copyright © Coincasso LT UAB 2018-2021

Register now!