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    Binance Coin (BNB) Price Updated High Above $650 Crypto Price Prediction

    The total value of all Binance Coin (BNB) tokens this Monday exceeded $ 100 billion for the first time. At its current capitalization, BNB is the third largest asset on the crypto market after Bitcoin and Ether. The indicator of the latter today also reached a new record above $ 368 billion.

    At the time of publication, BNB continues to make new highs and is quoted at $ 652.15. In early April, the price of BNB reached $ 600 for the first time, but subsequently pulled back to $ 430. The rise in BNB comes amid increased activity on the Binance Smart Chain (BSC) blockchain. Other assets of its ecosystem also set records. Thus, PancakeSwap (CAKE) and BakerySwap (BAKE) tokens, two of the most famous automated BSC marketers, have risen in price by 36% and 500%, respectively, in 7 days.

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    Investors are not afraid of the proliferation of fraudulent projects and hacks on BSC, the number of which is increasing along with the hype. Over the weekend, the Spartan Protocol, which specializes in collecting liquidity and synthesized assets, lost more than $ 30 million due to a “vulnerability in the calculation of liquidity shares.” A few days earlier, Uranium Finance had lost more than $ 50 million.

    Binance CEO Changpeng Zhao gave an interview to Bloomberg today, during which he drew attention to the low volatility of cryptocurrencies compared to shares of companies of comparable size. Note that the 60-day volatility of bitcoin has been decreasing since the beginning of this year, but so far it remains significantly higher than the indicators of Tesla and Apple shares.

    “Volatility is ubiquitous and not unique to the cryptocurrency market,” Zhao said. – There will always be those who do basic research and understand the assets. Some people understand BNB better than me. There are also those who follow the crowd. There are always more of them. They cause volatility, but the same happens in the stock markets. ”

    Technical Analysis for Binance Coin: BNB Price Forecast 2021-2022

    What is Binance Coin?

    Binance is one of the most popular cryptocurrency exchanges. It was launched in 2017 in Hong Kong. Binance Coin (BNB) is the Binance native token created the same year. BNB is an ERC20 token that can be used to pay fees on Binance exchange. If traders choose to pay fees in BNB they get a discount. On Binance DEX many most currencies are traded against BNB so having this coin in the portfolio gives wider opportunities. It’s fair to say that Binance Coin is one of the most popular native tokens. Moreover, Binance Coin is one of the top 10 cryptocurrencies by market cap.

    The quick success of the token is easily explained by the huge popularity Binance managed to gain very soon after the launch. Binance Coin was distributed during the ICO campaign. Half of the tokens were bought by the public and 10% was given to angel investors. The rest BNB coins went to the Binance team. The exchange has good liquidity, provides hundreds of trading pairs, and is capable of processing a high amount of transactions per second. All these qualities have made this exchange one of the leaders on the market of cryptocurrency exchanges. The trust of the community in this exchange and the privileges provided to traders using BNB coin resulted in the popularity of this asset.

    Also Read: Ripple Price Prediction 2021

    Past Performance

    Binance Coin was made available in the summer of 2017 — not long before the historic peak of the entire cryptocurrency market. Even without looking at the details, we can already guess that the coin’s price has gained its all-time-high by the end of December 2017, nosedived in the spring of the next year and is oscillating around the value much lower than the peak price but better than it was in “crypto-winter”. That’s pretty much a typical trajectory of the price of any coin launched in the second half of 2017.

    Also Read: Yandex Stock Price Prediction 

    In the first days, BNB was traded at around 11 cents per coin but by the middle of August, the price had surpassed the $1 level and almost reached $3 on August 23. There was a correction in early September when the price has dropped below the $1 mark again. By the end of the month, it has grown a little surpassing the $1 level once again. Until the beginning of December, the BNB value was moving up and down between $1 and $2. In December the price has suddenly taken off updating new heights daily.

    On December 26, the price reached $10 for the first time (although it didn’t last long). In early January of 2018, the BNB price was fluctuating around $8. On January 5 the price had skyrocketed reaching around $16 at maximum. In the next few days, the token was trading at over $20. The maximum for BNB of that period was reached on January 13 when the price peaked at $23.67. On January 16 the trading was closed at $13.89. In the next few days, the price continued to drop gradually. That wasn’t solely Binance Coin’s decline as the entire cryptocurrency market began to lose its value those days. One of the key factors for that was the ban of cryptocurrency-related business in China — a significant player in the global cryptocurrency industry. It is also important to realize that the price of Bitcoin was allegedly manipulated and the value of $20k was unnatural. The prices of many altcoins that became popular those days (including BNB) were reflecting the BTC’s peaking price. The fact that after this rally the prices of most altcoins didn’t manage to reach the same or bigger values is absolutely OK.

    In February the price had dropped below $10 and was fluctuating in $8 to $10 range until late March. Since March 31 the price was always above $10, reaching up to $15 at times. The resurgence continued the whole spring through and finished only in late June. During that period the BNB price was moving from $12 to $17. In July there was a little step back and in August the token price had dropped below $10 again. For most of the fall, the price was quite stable — around $9 or $10 but in late November it has fallen harder.

    BNB Price Prediction

    2021

    The overall future of Binance Coin looks bright as this asset is associated with the most successful cryptocurrency exchange in the times when cryptocurrencies get popular and sustain value better than many fiat currencies affected by the financial crisis which is not going to end very soon.

    2020th was a good year for Binance. Finally, its price is close to the all-time-high. The huge token burns made the value of each remaining coin much higher and the new accelerated burn company is going to execute soon will probably get the coin to the next level. Moreover, cryptocurrencies became more attractive for people in the wake of the pandemic-related financial crisis. By Q2 of 2021, all these factors combined will drive the BNB token price to the mark of $50 by the most pessimist estimation.

    2023

    As the next few years will be crawling out of the shadow of the economic crash of 2020, the cryptocurrency market will be rising against the fiat money market. We will say it again — the success and growth of the cryptocurrency market automatically mean the success of the Binance exchange’s native token. Binance is not likely to lose its market dominance (or at least significance). The very fact that the company provides both centralized and decentralized platforms strengthens its potential.

    More people affected by the crisis will turn to cryptocurrencies and will probably start with the established brand which is Binance. BNB token makes the use of Binance cheaper and more comfortable. These circumstances don’t leave a chance for the BNB price to drop. This price will keep on rising. By the end of 2023, the price will double compared to the price it had at the end of 2020 at worst. We believe the value will reach $64 at the minimum but most probably it will surpass the $70 level.

    2025

    If Binance survives and keeps its relevance until 2025, the price of its token will become even higher. By that time it may rise x10 or even x100 compared to a current price. It’s hard to predict it because we cannot be sure that the USD will preserve its strength by 2025. If the dollar weakens the value of Binance Coin in USD can get really high. Nevertheless, by 2025 there can emerge some new hardly predictable circumstances that can slow the token’s price growth down.

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