Most people who deal with cryptocurrencies have heard of Binance. Even though it was launched only 4 years ago, Binance is currently the largest cryptocurrency exchange, seeing a daily trading volume of over $60 billion. In addition, it became the first cryptocurrency exchange to issue its own cryptocurrency. This cryptocurrency is called Binance Coin (BNB). Let's explore the coin's fundamentals, conduct technical analysis and look at BNB price predictions.

For any internet (non-physical) based business, I don't understand why anyone would not accept crypto for payments. It is easier, faster and cheaper to integrate than traditional payment gateways. Less paperwork. And reaches more diverse demographic and geography. - Changpeng Zhao, CEO of Binance.

Binance Coin's origin

The Binance cryptocurrency exchange got its name from two words: Binary and Finance. Its cryptocurrency, Binance Coin, was created by the Chinese programmer Changpeng Zhao, the CEO of the Binance cryptocurrency exchange. In July 2017, he announced an Initial Coin Offering (ICO) to create an exchange, and 100 million BNB tokens were distributed to investors. The ICO saw $15 million invested, which paid off pretty quickly. The exchange kept 40%, and another 10% was given to early investors.

Binance Coin was originally an ERC-20 token that operated on the Ethereum network. However, in April 2019, Binance launched its own blockchain, Binance Chain, and transferred BNB to it.

What is Binance Coin (BNB)?

Binance Coin (BNB) is the native cryptocurrency of the Binance crypto exchange and has several uses in the Binance ecosystem:

• Exchange users can use BNB to pay trading commissions with discounts.
• BNB is used to sell tokens during Initial Exchange Offerings (IEO), the exchange's initial sale of tokens. The Binance platform runs IEOs on Binance Launchpad, which hosts interesting new blockchain projects looking for investors.
• BNB is used for staking and receiving dividends with Binance Launchpool.
• Traders can trade BNB for many other cryptocurrencies; a great variety of trading pairs are available.
• Binance platform users can convert their 'cryptocurrency dust' into BNB. Cryptocurrency dust refers to trace amounts of cryptocurrencies with negligible monetary values that are too small to be sold on an exchange.

In addition, the growing popularity of Binance Coin has led to its functionality going beyond the Binance platform itself, and an increasingly growing number of businesses are accepting BNB as a payment method.

Another feature of Binance Coin that's worth mentioning is that BNB tokens are regularly 'burned', and the total issue of 200 million coins planned by the developers should eventually reach 100 million.

Binance Coin (BNB) price analysis

At the time of this writing (05/05/2022), BNB ranked fourth among cryptocurrencies by market capitalisation at $66,587,893,057.

BNB price statistics (as of 05/05/22)

BNB Price History

When BNB first entered the crypto market in July 2017, its price was $0.1166. A few days after that, its price dropped to an all-time low, after which the price soared, reaching a local high of $2.688 on 23 August. This was followed by a correction until mid-December when the price broke through the resistance at the previous high and skyrocketed during the crypto market boom.

Binance Coin (BNB) price prediction 2018

On 12 January 2018, the BNB price reached a new high of $25.18. The ensuing strong correction pushed the price back to $5.52 on 6 February. After that, the price began to slowly rise to $17.48 in June. That was then replaced by an equally slow decline that continued until mid-August and stopped at $8.50. The price then fluctuated in a horizontal channel, gradually losing volatility. This continued until Bitcoin's crash in November 2018, after which BNB's price also collapsed to $4.12 in early December.

Binance Coin (BNB) Price Prediction 2019

BNB had a good start in 2019. The bullish trend that started in late December 2018 continued until 22 June, when the price reached a new all-time high of $39.59. The bearish trend that began after this continued until mid-December, with the price dropping to $12.11.

Binance Coin (BNB) Price Prediction 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.

Binance Coin (BNB) Price Prediction 2021

Compared to some other mainstream cryptocurrencies, BNB had a relatively slow start to 2021. It began the year in a consolidation that lasted the entire month of January but picked up the pace in the early days of February. The crypto market was especially bullish during this period, and BNB followed the trend. It grew by over 1500% to set a new all-time high record in May. The market corrected sharply, and BNB lost 70% of the accumulated growth but found support close to a local high set in February at around $250. After consolidating at that support level for months, the price picked up the pace again and continued to rise. In November, after more than 200% growth, BNB finally hit resistance close to the all-time high it set in May.

BNB/USDT price chart

BNB technical analysis

Following its most recent attempt to recover the all-time high set in May, BNB lost momentum after hitting the resistance zone around the all-time high. Analysts are divided over what comes next. Some believe that the correction is over and that BNB is preparing for another run at the all-time high. Others think that the heavy consolidation and diagonal resistance are enough to deter bulls and may be the beginning of a major sell-off.

BNB is currently trading within the price range it created when it initially corrected sharply after the all-time high was set in May 2021. The momentum is somewhat bearish as the market structure suggests a weakness from bulls and stronger selling pressure from the bears. If the resistance at $426.10 holds, the next stop for price may be the support region around $335. 

Binance Coin (BNB) price predictions for 2022, 2023, 2025 and 2030

Now let's take a look at what some cryptocurrency experts have to say about Binance Coin's prospects.

TradingBeasts BNB price prediction for 2022, 2023, 2025 and 2030

According to TradingBeasts' forecast, Binance Coin's price will consolidate lower for the better part of the year. The future BNB price prediction suggests that the price will average lower in the coming year, somewhere between $298 and $439.

WalletInvestor BNB Price Prediction for 2022, 2023, 2025 and 2030

WalletInvestor is more optimistic about BNB's prospects and considers it a very good long-term (1 year or more) investment. According to their estimates, the price will reach above $682.59 in one year and $1828.75 in 5 years.

Long Forecast BNB Price Prediction for 2022, 2023, 2025 and 2030

Long Forecast's outlook is conservatively optimistic. They predict that the price of BNB will rise to $459 before the end of the year. In 2023, their forecast predicts that the price will continue to rise and peak at $685. BNB will continue to grow, and by the end of 2025, the price will reach as high as $1359.

DigitalCoinPrice BNB price prediction for 2022, 2023, 2025 and 2030

DigitalCoinPrice agrees with the optimistic forecasts for BNB's price. They predict the coin's price will rise to $605.31 within a year. In subsequent years, they think the price will grow to $686 in 2024, $869.13 in 2025, $1348.14 in 2028 and $1,808.98 in 2030.

Binance Coin (BNB) overall value predictions in the future 

As the crypto market continues to evolve — it's just begun to gain widespread popularity — a large, actively developing crypto exchange like Binance, run by a strong team of professionals, has great growth potential. The constant expansion of BNB's functionality and the practice of regularly burning part of the coins have already brought Binance Coin to third place in terms of market capitalisation among all cryptocurrencies. But this is also BNB's disadvantage: if the Binance platform loses popularity for any reason, Binance Coin will inevitably lose at least part of its value.

Will Binance Coin go up?

Although this coin's value is highly dependent on the prospects of the Binance platform itself, the platform is currently developing and shows no signs of weakness. Coupled with the continued adoption of cryptocurrencies and the growth in cryptocurrency market volumes, this suggests that BNB has the potential for further growth.

Binance Coin price prediction today

BNB's growth has weakened at the moment, and many indicators point to a high probability of a major sell-off. At the same time, it's important to understand that notable positive news about the platform, as well as a new impetus to the growth of the crypto market as a whole, can cause Binance Coin's price to continue rising. In that case, it's entirely likely we'll see a new all-time high.