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More and more investors are paying attention to Binance. Whether Binance is a good investment or not is a question that many investors care about. This article will analyze is Binance(BNB) a Good Investment? project through Binance coin price prediction.
What Is Binance Coin (BNB)?
BNB, also Binance Coin, is the native token of Binance exchange. It was launched through ICO in 2017, and 11 days later, the Binance cryptocurrency exchange went live.
Binance Coin was initially issued on the Ethereum network in the form of ERC-20 coin, with a maximum total supply of 200 million coins, of which 100 million were released in ICO. After the launch of the mainnet of Binance Chain in April 2019, ERC-20 BNB has been swapped to BEP-2 BNB at a ratio of 1:1.
Soon later in September 2020, Binance Smart Chain (BSC), a network that operates in parallel with Binance Chain, was online. Now there are 3 types of Binance Coin:
ERC-20 BNB running on Ethereum network
BEP-2 BNB running on Binance Chain
BEP-20 BNB running on Binance Smart Chain
Having all these forms, how does BNB work and how can it be used? At present, Binance is the most trafficked platform, with the largest user revery and the highest BNB trading volume. Therefore, this is undoubtedly the largest application scenario of Binance Coin. As the native token of Binance Chain and Binance Smart Chain, BNB possesses many contexts of use in the following aspects:
1. Deduct loan interest on cross margin, enjoy 5% off.
2. Pay for trading fees, enjoy up to 25% off.
3. Convert small amount of coins into BNB.
4. The trading asset with dozens of trading pairs.
5. A means of payment in travel, entertainment, financial services.
Binance Coin (BNB) Price History
Launched about four years, Binance has been the top crypto exchange, as well as its native token Binance Coin, which enjoys a great reputation and attracts a lot of attention around the world. To start with, we will give a brief description of BNB price history.
|Token Name||Binance Coin (BNB)|
|7d Low / 7d High||$269.43 / $366.82|
|30d Low / 30d High||$213.52 / $432.31|
|90d Low / 90d High||$213.52 / $690.93|
|All Time Low /High||$0.09611 / $690.93|
|Circulating Supply / Total Supply||153,432,897 / 169,432,897|
|ROI (if purchased at the time of launch)||247718.89%|
Binance Coin was valued at $0.1 at the time of issuance in 2017. With the prosperity of the entire crypto market in that fall, it had already surpassed $1 and exceeded $10 at the end of the year, reaching its highest point in the year since its release. In 2017, Binance price rose in waves.
It steadily climbed from $2 to $20 in early 2018, broke through $22 in early January, and then declined. In April, equally important, the launch of Binance DEX slightly promoted BNB price. Additionally, the Binance Coin buyback and burning in April also played a catalytic role. But then for a long time, Binance Coin price has been hovering around $10. The Year 2018 is also a cold winter for the cryptocurrency market.
The launch of the Binance Chain in April 2019 might have stimulated BNB coin prices, but it still fluctuated in a small range. Then it reached a minor peak of $38 in June, also the peak of the past few years.
BNB fell below $5 in mid-January 2019, at the time of Bitcoin worth about $3,441, which has fallen over 82% from its highest price. Binance Chain launched in April of the same year, and BNB price kept volatile slightly, reaching a minor peak of $38 in June, also a high in recent years. In September, the launch of Binance.US accordingly attracted a lot of attention from investors. In that case, the token price remained at around $20.
Binance Coin price has been trending well in 2020. Its value has more than doubled, rising from approximately $13 at the beginning of the year to $38 at the end of the year, an increase of over 145%.
Within two years of Binance’s foundation, its native token has unexpectedly risen from $0.1 to $38. In the meantime, Bitcoin has fallen by about 70% from its peak. As the world’s leading crypto exchange, the trading volume and profits are just the tip of the iceberg. BNB definitely is the core of Binance.
Binance Coin (BNB) Price Prediction
In the past few months, obviously, any other cryptocurrency has hardly grown like Binance Coin. As has been noted, the token of the crypto exchange Binance has risen to the top four cryptocurrencies by market capitalization, only behind Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
With such a great market force and financial strength of Binance, crypto analysts largely believe that BNB has strong growth potential in the next few years, even stronger than Ethereum. In order to help investors better develop their trading strategy, below we will share some BNB coin price predictions for the next few years.
Binance Coin (BNB) Price Prediction 2021
In February 2021, the price of BNB exceeded the $100 mark. Before long, it rose to $320 on February 20th in a parabolic movement. Then it’s been sideways until May 2021, the BNB price finally rose to a new all-time high of more than $690.
Although the recent correction brought BNB to a low of $310, analysts at the forecasting agency still made a BNB price prediction of exceeding $1,000 by the end of 2021. However, WalletInvestor is more cautious about their forecasts as they don’t expect BNB to rise much higher than the historical high of $700 in one year.
Binance Coin (BNB) Price Prediction 2022
According to data from LongForecast, its Binance coin price prediction indicates that BNB is expected to break a new record of $800 in mid-2022. Analysis shows that BNB’s price may reach $891 in June and further rise to $963 by the end of 2022. The closing price in December is hopefully to be $900, an increase of 154% compared to the current level.
Binance Coin (BNB) Price Prediction 2023-2024
Digitalcoin seems to be more moderate in their BNB price forecast so that they expect the coin price will rise from $579 to a high point of $881 after two years, until the year 2024. While Tradingbeasts predicts that BNB will go up steadily and reach an average price of about $419-$594 from 2023 to 2024, with a rise of about 50%.
Binance Coin (BNB) Price Prediction 2025-2030
It is estimated that BNB should continue to rise in 2025 and reach a high above $1,050. However, market observers predict that it may not surpass $2,000 during the consolidation period.
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Conclusion: Is Binance Coin (BNB) A Good Investment?
As of now, as the native token of Binance, BNB is still one of the top four cryptocurrencies by market capitalization, with a market value of approximately $44 billion. It in fact has a great advantage over other cryptocurrencies.
While Binance Coin has provided a steady stream of good returns in the past, investors may have two concerns right now. One is that as a token of a centralized exchange, the exchange has the right to change its mode of operation, and even its price. Second, the Binance trading fee discount by using BNB will decrease year by year. If the discount expires, traders may not continue to hold BNB.
In short, despite these concerns, investment experts predict that Binance Coin has a lot of room to appreciate in the coming years, with the potential to outperform Ethereum and Bitcoin in market capitalization. From an investment perspective, BNB is much better than tokens of other centralized exchanges.