Binance is the biggest online platform where people trade digital money. Its clients have the possibility to put their money into the project by buying its token called Binance Coin (BNB). Unlike other utility coins launched by crypto exchanges, BNB powers transactions on its own blockchain. Currently, it’s not just a payment method within a certain ecosystem, it’s one of the largest digital currencies by market cap. During the passing month, its value has increased from $221 to $304. Here is our forecast of its future prospects.
Introduction to BNB
In July 2017, 50% of its BNB ICO was available for public sale. In the beginning, BNB was valued at 15 cents. Its creators earned 15 million USD from public sales of the newly created token.
The operations were first executed on Ethereum until September 2020 — the time when they started their own network Binance Smart Chain.
Users of BNB can claim certain perks from the provider. For example, they are charged lower fees. This saves some funds during trading.
Binance Coin isn’t only a utility token, it’s a well-established cryptocurrency, meaning you can use it to pay for products and services online. Or, invest real funds in BNB and benefit from the future growth.
Will Binance Coin Price Go Up in 2022?
Many big cryptocurrencies start recovering after the market crash in May-June. BNB is one of them. As of the date of writing this post, BNB is valued at $304. Experts believe that the current performance of the digital asset is a good indicator for its investors. Here are the key takeaways from its price forecast:
- The BNB Chain network is growing. Besides, its creators have taken a good lesson from the gas issues of Ethereum. That’s why they have already started working on layer 2 within the chain. The continuous growth will make BNB a more sustainable investment.
- Holders of BNB might be concerned about the future of the coin because of the investigation initiated by the United States Securities and Exchange Commission. However, experts argue that this might have a big influence on this digital asset. They’ve seen how SEC initiated lawsuits against Ripple. The probability of monetary penalties charged for Binance is the highest possible risk so far.
- One more concern of BNB investors is that Binance is facing regulatory issues, initiated by several authorities around the world. Since the price of BNB is closely related to the reputation and sustainability of the exchange, issues with authorities might have negative consequences.
Experts believe that by the end of 2025, the BNB value can beat its all-time record and reach around $780. The most optimistic forecasts say that by 2030, it will be priced at more than $3,000. BNB has already outperformed the prediction for 2022, as it was expected to increase up to $275 by the beginning of 2023.
When considering cryptocurrency price predictions, bear in mind that they can never be 100% accurate. The crypto market is too volatile. The most optimistic experts won’t guarantee you that their forecasts are true. Any cryptocurrencies might fall at any time. Make sure to consider every investment.