Binance Coin Price Predictions 2021
Will Binance Coin break past $1,000 this year?
- BNB could reach $1,757 by the end of 2021 at the highest and $581.002 at the lowest, according to various price forecasters.
- For many price forecasters, 2023 looks like the most probable year BNB will reach $1,000.
Binance Coin is the native coin to the Binance Chain and is used on the Binance Exchange to get a discount on trading fees.
The primary idea behind Binance Coin was to draw in more traders to the Binance Exchange and it has worked tremendously. The Binance Exchange is the largest crypto exchange in the world.
At the time of writing, Binance has a 24 trading volume of $59,114,779,927. This is roughly three times higher than the second-largest exchange Huobi Global, with $19,579,642,382, according to CoinMarketCap.
But there is so much more going on behind the scenes. Until very recently BNB was not one of the most well-known coins. That all changed in 2021 when the DeFi (Decentralised Finance) market jumped on BNB.
It has since become a serious trading asset worth holding and 2021 has been its best year yet. Let’s look at where the price of BNB could be going in the next few years.
How Much Is Binance Coin Worth?
Binance Coin is worth $435.47 per coin, according to CoinMarketCap at the time of writing. It has a market capitalisation of approximately $66 billion. This makes BNB the third-largest cryptocurrency after Ethereum (ETH) and Bitcoin (BTC).
In the past year, the lowest price BNB reached was $15.02 and the highest was $690.93, which was achieved in May 2021.
It is also worth noting that 90% of BNB tokens (153,432,897.00) are already in circulation out of a max supply of 170,532,785.
At the time of writing it should be pointed out that BNB has lost a fair bit of its value. Since Elon Musk announced Tesla will not accept Bitcoin, the price of Bitcoin and many other altcoins has suffered significantly.
While this may worry some newbies, for more experienced traders this is a golden opportunity to buy more BNB.
Will BNB Coin Go Up?
BNB will likely go up as the DeFi market grows on the Binance Smart Chain (BSC), the second-largest DeFi platform after Ethereum.
The BSC was launched in September 2020, but it didn’t become a major alternative for DeFi until February 2021. At that time, Ethereum transaction fees became incredibly volatile and at times, very expensive.
It meant that running a DeFi project on Ethereum could be very costly. And so many projects made the jump to the BSC where fees are considerably lower.
So, as long as the BSC can remain competitive against Ethereum and other DeFi platforms, BNB could go up.
One risk worth mentioning is Ethereum 2.0 - Ethereum’s transition from proof of work to proof of stake. This is a risk because Ethereum’s transaction fees could be drastically reduced and this may encourage DeFi projects to return.
Read Also: Will Binance Coin Make Me Rich?
What Will Binance Coin Be Worth In 2021?
The Economy Forecast Agency predicts BNB to reach $855 at the highest by the end of 2021. DigitalCoin foresees BNB reaching $707.73 in September at the highest. BNB will then close 2021 at $605.21. WalletInvestor estimates that by the 31st of December 2021, BNB could reach its highest price of $689.583.
Cryptocurrency Price Prediction believes BNB could reach its peak in October 2021 at $1,093.55 and finish the year at $959.56.
Will Binance Coin Reach $1,000?
Yes, Binance Coin can probably reach $1,000. Several crypto price analysts foresee it happening in either 2021 or the next few years.
The Economy Forecast Agency predicts that Binance Coin could reach $1,000 by March 2022. Trading Beasts, however, is a little more conservative, forecasting $1,000 by July 2024.
For many price forecasters, 2023 looks like the most probable year BNB will reach $1,000.
DigitalCoin also believes that BNB could reach $1,000 but in August 2023. Similarly, WalletInvestor does not see BNB passing $1,000 until January 2023. Gov Capital also foresees BNB crossing over $1,000 in 2023, but by April.
On the more bullish side, Cryptocurrency Price Prediction thinks BNB could surpass $1,000 by September 2021.
Binance Coin Price Prediction 2022
Binance Coin could reach $2,630 by the end of 2022 at the highest, according to Coin Price Forecast. 2022 price predictions for Binance Coin look pretty good with most crypto price analysts expecting prices to rise.
At the low end, Trading Beasts predicts BNB to reach a maximum of $742.738 by December 2022. The closest forecast to this price is DigitalCoin, which foresees a maximum price of $831.53 by September 2022.
On a more positive note, The Economy Forecast Agency estimates a high of $1,356 by October 2022.
Cryptocurrency Price Prediction suggests that the highest price BNB can reach in 2022 is $1,707.32in September.
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Is Binance Coin A Good Investment?
Yes, Binance Coin appears to be a good investment and with positive price predictions for the next few years, it makes a great long-term investment.
Binance Coin doesn’t just benefit from a growing DeFi market. If the crypto market remains bullish, more traders will seek it out to pay for fees on the Binance Exchange.
If these two factors remain for the next few months and years, investing in BNB will pay off big time.
There are, of course, some concerns. The primary one being that Binance Coin is centralised which means that Binance controls most of what happens to the coin.
For many crypto traders, the idea of a centralised cryptocurrency goes completely against what a crypto should be.
To make matters worse, supposedly 80% of BNB tokens are owned by Binance itself. This is a big concern because they could easily flood the market with tokens and dump the price if they ever wanted to.
All that aside, the coming years ahead look very promising for BNB and it may be a great investment for 2021.
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- Binance Coin could be worth up to $1,757 by the end of 2021, according to Coin Price Forecast.
- BNB is used on the Binance Exchange for a discount on fees and fuels the Binance Smart Chain.
- The Binance Exchange is the largest in the world, three times larger than Huobi Global, the second-largest.
- Currently, the price of BNB has gone down because Tesla will no longer accept Bitcoin. All altcoins are down because of this.
- Several price forecasters predict that BNB could surpass $1,000 by 2023.
- Binance Coin could reach $2,630 by the end of 2022.
- Binance Coin is centralised with up to 80% of BNB tokens owned by the exchange.