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In this article, we are going to make Binance coin price prediction for the next five years. Cryptocurrency is the next big thing. Everyone wants a digital coin. However, you cannot buy cryptocurrencies through a traditional brokerage account on the stock market. Instead, you exchange Binance coin and other cryptocurrencies on specialized exchanges such as Bexplus, Binance, and Etoro. It is important to note that, Binance is by far the largest cryptocurrency exchange in the world. It is so big that it created a “native” cryptocurrency called Binance to make paying for the site’s services easier.
One of the reasons Binance becomes so popular is because its transaction fees are among the lowest in the world. The exchange platform created the Binance coin (BNB), making transactions even cheaper. Initially, transacting on the Binance exchange platform would cost you just 0.1 percent of the total amount, even if the trade was worth billions. However, if you pay for your transactions with Binance Coin, it gets even cheaper. It is because you will get a 50% discount on your costs. That is to say, you will only have to pay 5 cents if you use Binance coins instead of paying 10 cents for a $100 transaction.
That is an interesting breakdown, right? Well, that is just the tip of the iceberg. We have gone above to tailor this article so that all the traders, even novices, finally understand the Binance coin. Firstly, we will start by defining the Binance coin then we will look at its value. Then we will take you through its pricing history before giving you the answers to all the frequently asked questions. We will then conclude by predicting the prices for you.
What is Binance Coin (BNB)?
Binance exchange created the Binance coin cryptocurrency, and it trades under the symbol BNB. The Binance coin was launched in July, 2017 as part of an initial coin offering (ICO) with a cap of 200 million BNB tokens. Binance provided 10%, or 20 million BNB tokens, to angel investors, 40%, or 80 million, to the founding team, and the remaining 50%, or 100 million, to the various participants through the initial coin offering process.
Almost half of the funds raised during the initial coin offering flows to Binance branding and marketing. The remaining one-third went toward building the Binance platform and making essential updates to the Binance ecosystem. It is important to note that Binance currency was initially based on the Ethereum blockchain and followed the ERC 20 standard. In addition, the Binance coin has subsequently become the Binance chain’s native token.
As a result, Binance exchange was the world’s largest cryptocurrency exchange in June, 2021 with over 1.4 million transactions per second.
Overview of The Binance Coin Value
The Binance coin has a market cap of about $103,399,046,796 and the same amount of fully diluted market cap. It was trading at $625.54 as of November 25, 2021. Although the initial coin offering provided 100 million Binance tokens, the actual total supply is more.
Interestingly, Binance spends one-fifth of its revenues every quarter to repurchase and permanently destroy Binance tokens held in its treasury, a process known as “burning.” Binance has held these burning activities regularly. On April 15, 2021, Binance burned a total of 1,099,888 Binance coins, equal to $595,314,380. It was Binance’s 15th quarterly Binance coins burn and its largest in terms of dollars. It is a no-brainer that they do this to ensure scarcity of the coin. As a result, the price of the Binance coin remains high. The burning works, the Binance coin’s supply has fallen from 170,532,825 to 166,801,148 units.
To sum up, the Binance coin aims to be a utility token with lower trading fees. BNB is primarily used to pay for Binance.com, Binance DEX, and Binance Chain transaction fees. However, since then, it has been used in various applications on a variety of platforms. For instance, it has also been used for entertainment to facilitate buying virtual gifts; to book travel accommodations at unique places; to pay for online services; or even for financial purposes like taking out loans and investments at select establishments.
The Price History of Binance Coin (BNB)
First and foremost, let us look at the Binance coin history before making the price prediction.
The Price History of BNB in 2019
Open price: $6.1 Close price: $13.7
During the first quarter of the year, the Binance coin price dived a little bit to trade at $15.0652 on March 14.
However, on June 22, the Binance coin improved significantly and recorded the highest price that year to trade at $39.6.
After that, the price range remained relatively stable. For example, on September 7, the price of a Binance coin was $22.4.
Again on November 11, the Binance coin was trading at $20.544. Indeed, this was still a reasonable price.
As the year was coming to a close, the price took a severe beating. It was at its lowest on December 17, at a dismal price of $12.4.
The Price Trend of Binance Coin During 2020
Open price: $13.80 Close price: $37.4
The year started well. Binance coin trading prices made a slight improvement to trade at $26.4319 as of February 13, 2020.
However, on May 10, the Binance coin price dropped sharply and registered a dismal figure of $6.5032. Please note that this was the lowest price that was recorded for the whole of that year.
It is important to note that, like every other cryptocurrency, Binance exhibits sharp rises and sharp drops. For example, on September 5, the price shot up to trade at $18.9417.
The price improved again. While on November 12, 2020, the Binance coin was trading at a promising price of $27.9385.
It is an undisputed fact that 2020 was a particularly unique year due to the Covid-19 pandemic. However, the price continued improving till the coin closed the year at a very good high price, as indicated above.
The Price of Binance Coin in 2021
Open price $37.4 Close price $615.4
The year did not start very well for the Binance coin. Despite the currency having an opening price of $37.4 on 1st January, it recorded the lowest price at $35.0 on 11th this same month.
However, the price improved at a slow rate to trade at $73.69 on 7th February.
Later on, the Binance coin price shot up to $243.54 on 25th March. This very dramatic increase is just how we would expect the prices of cryptocurrencies to behave. Nonetheless, this was a significant improvement from the prices recorded in February.
Again, on 10th May, the Binance coin surpassed all the expectations to trade at an all-time high of $691.8.
However, on 20th July, the Binance coin experienced another dramatic swing. This time the price dropped sharply to trade at $254.5. Even so, the price was still significantly good.
Binance Coin History Price Summary
Based on the detailed past prices of the Binance coin, we can learn about its history price trajectory.
The chart below is the detailed history price of the Binance coin from 2019-2021.
|Date||History Lowest Price||History Highest Price|
Binance Price Prediction From 2021 to 2025
As we describe the BNB price history above, it’s now on a bullish cycle. But how exactly will the Binance Coin Price go? Will the price climb rocket-high as BTC? Or will it slow down the uptrend? Let’s see read the analysis below.
The Price of BNB Coin in The Rest of 2021
Following the 1-day chart of BNB price, we could see the great swing Binance coin archived. But since Oct, Binance Coin started to reclaim what it lost in early June. Step by step, with several higher highs and higher lows (the blue lines), the price formed a bullish market structure.
As a result, we can predict that the price of BNB for the rest of 2021 will stay between $511.3 and $680. However, it’s not likely that BNB can break the supply zone in December.
Binance Price Prediction in 2022
The chart above shows the weekly BNB-USD pair of 2021. It demonstrates a strong supply zone at around $690. There have been a lot of times where price has surged towards all-time highs but has to come back down and trap every breakout longer. However, if it hit through the ceiling, it may target the position of $875. It’s also where the 1.382 Fibonacci level sits. After all, the BNB price can still count on the $600 support line if it fails.
In conclusion, Binance Coin will run at a price between $600 and $875.3 in the year 2022.
Binance Price Prediction in 2023-2025
The analyst from capital.com provides a bold guess that BNB will trade up to $2,000 by 2025. However, we can’t just simply take it. As we mentioned above, the Binance Governance has the power to “burn” some BNB to balance the supply over the market.
By reviewing the history, there were 17 times BNB burning. They have burned more than 166 million BNB and will perform the burns quarterly. Basically, the burning mechanism reduces the BNB supply and increases the BNB value by increasing demand. As a result, the BNB price can only go higher since the total supply wouldn’t grow too much. We can forecast that BNB can easily break the $1,000 resistance level by 2023, while the price will fluctuate between $800 to $1,500 in 2023-2025.
The Long-term Price Prediction of Binance Coin
It’s never easy to forecast a cryptocurrency that can raise its price 20 folds in one single year like BNB. By far, we can see the Binance Coin market is still hot. And the demand-supply balance is still tilting towards buyers, making the price stays in a big upstream cycle. However, the Binance Coin is designed to reduce the transaction fee within the Binance. If the price goes too high, it would be an obstacle while trading.
In conclusion, we predict the price of Binance Coin will stay in the zone between $1,000 and $2,000 in 2025-2030.
|Year||Lowest Prediction Price||Highest Prediction Price|
|Rest of 2021||$511.3||$680|
Opinions from Professional Investors
The wallet investors state that the Binance coin is a good investment option with a long-term earning potential of +110.25% in one year. They further predict that the Binance coin can go up to $871.471 in one year.
Longforecast investors predict that the Binance coin price will drop to $328 by the end of this year. However, they also expect that BNB will be priced at $1,094 as of January 2025.
The Trading Beasts predict that the Binance Coin will be trading at $375.897 by the end of the year. In addition, by March 2022, the price will have improved slightly to trade at $388.353
The prediction by these investors is that the price will be at $732.59 in 2022 and $11,812.40 in 2028.
FAQ about BNB Trading
Where to Buy Binance Coin
The most obvious way to obtain Binance coins is to purchase them through the Binance exchange platform. The Binance Coin (BNB) is the specialized utility token of the Binance exchange and because it offers the widest range of trading pairs for the Binance coin and the best Binance coin exchange rates. However, if you cannot access the Binance exchange platform, there is a variety of options that you can choose from, like Kraken.
How to Buy the BNB
There are two ways. The first method is straightforward. Simply exchange your cryptocurrency for Binance coins of equal value. This is especially true if you own any cryptocurrency coins, such as Bitcoins, Ethereum, or any other.
The second method applies if you don’t already have a currency coin. You will first need to open an account with an exchange of your choice like Kraken. Then you will have to deposit money into your account before trading it for Binance coins.
Should I Invest in The Binance Coin
First, let us look at some interesting facts. On April 6, Forbes reported that the value of the cryptocurrency market had surpassed $2 trillion. In addition, Forbes singled out the Binance coin as one of the lesser altcoins (Bitcoin alternatives), fueling so much of the explosive growth. This was a watershed moment for the Binance coin.
We can therefore conclude that investing in the Binance coin is an excellent idea. However, investors searching for a quick buck should be cautious.
What is The BNB Coin Used for?
The Binance coin has a variety of uses outside of the Binance exchange platform. These include the ability to: pay for travel arrangements, process payments, facilitate loans and transfers, and buy virtual gifts, just to mention a few.
What does converting Dust to BNB Mean?
Dust is a term used in the cryptocurrency sector to describe any amount of coins or tokens that are so little that they are typically overlooked. They are essentially the leftover fractions after exchanges.
Traders can change their dust into Binance coins on the Binance exchange platform.
Unlike other digital currencies that use limited coin supply to maintain their inherent value, BNB maintains the balance by “burning” the extra coins. If you are interested in investing the cryptocurrency like Binance coin, you may also read the price prediction of Stellar. It has the burning process same as BNB.