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Binance Coin (BNB) price prediction 2024-2030

11 Jan, 2024 10 min read
 Binance Coin (BNB) price prediction

Most people who deal with cryptocurrencies have heard of Binance. Even though it was launched 7 years ago, Binance is currently the largest cryptocurrency exchange, with a daily trading volume of over $12. 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 a BNB price analysis and look at the Binance coin 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 a more diverse demographic and geography. — Changpeng Zhao, CEO of Binance.

Binance Coin's origin

Let's begin our Binance Coin price prediction with the definition.

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.


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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's web page


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Binance Coin (BNB) price analysis

At the time of this writing (11/01/2024), BNB ranked fourth among cryptocurrencies by market capitalisation at $44,999,980,395.

BNB price statistics (as of 11/01/2024)

BNB current price

$296.71

Market cap

$44,999,980,395

Circulating supply / Total supply

151,690,396 BNB / 151,690,396 BNB

Daily trading volume

$1,065,605,462

All-time high

$690.93 (10/05/21)

All-time low

$0.09611 (01/08/17)

Website

bnbchain.org


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Binance Coin Price History

When BNB first entered the crypto market in July 2017, its price was $0.1166. A few days after that, the Binance coin 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.

BNB/USD historical price chart
BNB/USD historical price chart

Binance Coin (BNB) price prediction 2018

On 12 January 2018, the BNB coin 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 Binance coin 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.

BNB/USDT daily logarithmic chart in 2018
BNB/USDT daily logarithmic chart in 2018

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. Check it out in the Binance coin price chart below.

BNB/USDT daily logarithmic chart in 2019
BNB/USDT daily logarithmic chart in 2019

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.

BNB/USDT daily logarithmic chart in 2020
BNB/USDT daily logarithmic chart in 2020

Binance Coin (BNB) Price Prediction 2021

BNB/USDT daily logarithmic chart in 2021
BNB/USDT daily logarithmic chart in 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

 



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Binance Coin Price History in 2022-2024

BNB coin price surged by 50% in late 2021 but was considerably lower in 2022.

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 2022, Binance Coin secured a position among the top 10 most valuable cryptocurrencies.

BNB technical analysis

BNB/USDT daily logarithmic chart
BNB/USDT daily logarithmic chart

According to data from 11 January 2024, the overall sentiment for Binance Coin price prediction is optimistic. Technical indicators suggest that Binance Coin's 200-day SMA will increase in the coming month and reach $267.64 by 9 February 2024. Additionally, the short-term 50-day SMA for Binance Coin is projected to reach $367.74 by the same date. The Relative Strength Index (RSI) value currently stands at 57.07, signifying that the BNB market is neutral.


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Binance Coin (BNB) price predictions for 2024, 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 2024, 2025 and 2030

Based on TradingBeasts' Binance coin price prediction, BNB commenced January 2024 at $312.136 and is anticipated to conclude the month at $234.010. The maximum projected BNB coin price in January is $346.011, while the minimum is $234.010. The BNB coin price is predicted to reach $269.392 by the end of December 2024. In 2025, the average Binance Coin price is expected to be $251.300, and by December 2028, the BNB coin price is forecasted to reach $382.915.

WalletInvestor BNB Price Prediction for 2024, 2025 and 2030

Based on WalletInvestor's forecast, they predict that Binance Coin (BNB) is not a favourable long-term investment. Their projections suggest that the price of BNB could decrease from $294.651 to $252.415 by the end of 2024. Additionally, they anticipate a price of $207.081 by the end of 2025, with an average price of $110 in 2028.

WalletInvestor's BNB 2023-2024 price prediction
WalletInvestor's BNB 2023-2024 price prediction

Long Forecast BNB Price Prediction for 2024, 2025 and 2030

Long Forecast's outlook is conservatively optimistic. They predict that the price of BNB will rise to $594 before the end of 2024. In 2025, their forecast predicts that the price will continue to rise and peak at $664. BNB will continue to grow, and by the beginning of 2028, the price will reach as high as $1625.

DigitalCoinPrice BNB price prediction for 2024, 2025 and 2030

Based on DigitalCoinPrice's forecast, the Binance coin (BNB) is projected to surge by 264.58% and hit $1,079.39 by the conclusion of 2026. In 2025, the average price of BNB is anticipated to be $705.21. Looking ahead to 2030, it's predicted that the price of BNB will soar to $2,160.27.

DigitalCoinPrice's BNB price prediction
DigitalCoinPrice's BNB price prediction


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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.


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