Binance Coin has been one of the top-performing cryptocurrencies in the market. The surge is attributed to the growing Binance ecosystem that has given the token multiple use cases and a quarterly burn. Binance changed a section of its whitepaper in 2019 to introduce a quarterly token burn instead of a token repurchase plan.
As a result, the coin value will keep rising based on the aspects of supply and demand. BNB remains in a strategic position for growth with a rapidly growing cryptocurrency exchange backing.
What is Binance Coin?
Binance is a suite of decentralized networks that are based on a blockchain. One of them is the Binance cryptocurrency exchange, launched in 2017, which has since expanded to become the leading digital asset exchange per trading volume.
It is a token native to cryptocurrency exchange Binance issued during an initial coin offering. It is used for discounted trading charges and as a deflationary asset. With the expansion of the network, BNB has gained other use cases, including the Binance Launchpad Lottery system and other related payments.
Binance pre-mined 200 million BNB tokens before the initial coin offering. From the initial supply, 40% were allocated to the founding team, 10% to the investors, and the remaining 50% to a public sale. BNB was launched as an ERC20 standardized token in 2017. The firm subsequently implemented a token swap from ERC-20 BNB tokens to Binance Chain mainnet in 2019. Changpeng Zhao is the co-founder and the current CEO of Binance. The other founding member is He Yi.
If you are looking for BNB price prediction for 2022-2025, look no further. We will look at the current BNB pricing to see what to expect from future changes.
BNB Coin: should you invest in BNB today?
Although BNB is currently under bullish momentum, the technical analysis shows a potential consolidation before the token can record any further gains. BNB is trading above the 100 MA but could face some resistance at the $200 MA, which is above it. The Relative Strength Index is at 67, meaning that the token is almost at the overbought zone, and we might see a trend reversal in the short term.
From the overall chart, BNB has strong future growth prospects, with the token currently trading below the all-time price of around $675 recorded in May 2021. With the technical and fundamental aspects aligning towards a price jump to possibly the all-time high, BNB remains an ideal token to hold.
Will BNB reach 1000 USD in 2022?
This coin price analysis for 2022-2025 shows a bullish view on the token in the long run based on the strong fundamental and technical aspects. However, no one can accurately predict the future, and further research is recommended.
- In 2022, BNB is projected to reach a high of $550 at a minimum. The price could still get a maximum of $630, with the average price projected to be around $480.
- BNB is poised to trade as high as $770 in 2023, an increase of 77.27% from the current price, on a more conservative view. The token could still surge to a maximum high of $940, with the average trading price expected to be around $600.
- The 2024 price outlook places BNB at a maximum price increase of $1,150, equivalent to a surge of 162% from the current level. Still, BNB could rise as high as $1,320, with the average price set to be around $900 throughout the year.
- In 2025, BNB will rise to a maximum price of $2,000, with the minimum price being $1,702.62 and the average trading price at around $1,300.
BNB past price analysis
CoinMarketCap currently ranks BNB as the fourth most valuable cryptocurrency, with a market capitalization of $72,449,384,184.37. There are 165,116,760.89 circulating BNB tokens from a total supply of 165,116,761 and a hard cap of 165,116,760. Binance has committed to burn an amount of BNB equivalent to 20% of the quarterly profits until the outstanding supply reaches 100,000,000 BNB.
- From the latest price charts, BNB is currently trading at $438.27, having surged 0.48% in the past day and 7.71% in the past seven days.
- The past month has equally seen an increase in the price of BNB by 15.08%, rising from a low of $381.
- The past three months, however, show a price decrease in BNB. The token has dropped from a high of $528, shedding off 17.42% in the period.
In contrast, BNB has surged by 40.92% from a price of $311 in the past year. Overall, BNB has been one of the most profitable tokens, having turned in more than 4,003% since trading at $0.11 in 2017.
Want to buy BNB?
BNB token is listed in major crypto exchanges, including Binance, Gate.io, and FTX. If you wish to buy the token on Binance, follow these steps.
Step 1. Open an account with Binance.
Step 2. Buy BTC or USDT directly from the crypto wallet.
Step 3. Proceed to the spot market and select the BNB/BTC pair or BNB/SOL.
Step 4. Exchange BTC or USDT for BNB tokens.