BNB could surpass $1,000 and reach $1,146 as early as the end of 2022, as predicted by Coin Price Forecast. They also predict $2,053 by 2025 and then $3,700 by 2030. An increase of +618%.
Binance Coin was one of the best performers of 2021. Starting 2021 at $38.61 it has soared to $690, a new all-time high on the 10th of May 2021.
Most of Binance Coin’s success last year is down to the successful launch of the Binance Smart Chain (BSC).
The BSC is an alternative to Ethereum. It is a second blockchain that runs parallel to Binance Coin’s main chain and can be used to host dApps and DeFi services.
Launched in September 2020, the BSC now has 44 DeFi projects, while Bitcoin has 25, according to DeFiprime.com. Much of the interest in the BSC is because of high fees on the Ethereum network.
Furthermore, BNB has also benefited from increased usage on the Binance Exchange as the crypto market continues to boom.
This is because Binance Coin can be used on the Binance Exchange as a discount token to pay for fees.
As more people flock to the Binance Exchange to buy BTC, for example, the likelihood of them using BNB is higher.
Whether Binance Coin will reach $1,000 in the next five years is questionable and depends on several factors. According to a survey, 82.4% of BNB investors believe that Binance Coin may reach the value of $1,000 in the next five years.
But will BNB reach $1,000? And can it do it in five years? Let’s see what the experts are saying.
Can Binance Coin Reach $1,000?
Yes, Binance Coin can probably reach $1,000. However, when exactly this will be is unclear as price predictions do not all agree. Many estimate that it may happen before 2025.
Some analysts think that Binance Coin will reach $1,000 far sooner than five years. Coin Price Forecast is one of them. They predict that by the end of 2022, BNB will reach $1,146.
The Economy Forecast Agency predicts that Binance Coin will reach $1,000 in 2023. They suggest that BNB will likely close at $1,584 in November 2023.
WalletInvestor believes that BNB will reach $1k in November 2022.
So, it is pretty reasonable to assume that BNB will reach $1,000 in five years.
Can Binance Coin Reach $10,000?
While Binance Coin could reach $10,000, most price predictions do not foresee it in the next five years.
Cryptocurrency Price Prediction is the most optimistic. They predict that BNB could reach $16,673.26 by January 2030. That’s an increase of 3143.77%.
But this prediction may be too bullish. Much of BNB’s current value is based on growing BSC use and it is hard to predict how large the DeFi market will grow.
Other price forecasters also do not anticipate Binance Coin to reach $10,000 in the next few years.
For example, Walletinvestor believes that by January 2027, BNB will reach $3,167.
So, while there is potential for BNB to reach $10k, few are brave enough to predict when this could happen. It’s just too large a number to accurately predict.
Will Binance Coin Make Me a Millionaire?
Most likely Binance Coin will not make you a millionaire, but it is still one of the best investments available right now.
However, depending on the amount of money you can invest in Binance Coin and when you exit the market, theoretically, BNB could make you a millionaire.
But this also depends on if Binance Coin will continue to increase in price or not.
The BSC has given Binance Coin an edge over the market, but a better dApp alternative could still emerge.
But Binance’s nurturing of DeFi could in fact be its undoing. As Binance founder Changpeng Zhao (CZ) explained to CoinDesk, he expects DeFi to replace the Binance Exchange.
As the DeFi market grows, we will likely see more decentralised exchanges (DEXs), which theoretically could replace centralised exchanges like Binance.
This is because they remove the middleman (in this case, Binance) and offer direct buying and selling to traders.
So, while the future of BNB is largely positive, just like any other investment, there are risks to consider.
Furthermore, with the highest prediction for BNB being $16,673.26 by 2030, it will likely have to do a lot better than that to make you a millionaire.
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- BNB started 2021 at $38.61 and then soared to $690, a new all-time high.
- The Binance Smart Chain is the primary reason for BNB’s increase in price. A parallel chain for dApps and DeFi services.
- BNB could potentially reach $1,000 in 2022, according to some forecasters. Others believe it may take a couple of years but may happen before 2024.
- Cryptocurrency Price Prediction forecasts that BNB could be worth $16,673.26 by December 2030.
- It is hard to predict how high BNB can go as we don’t know how large the DeFi market can become.
- While Binance Coin may not make you a millionaire, it is still one of the best investments in the crypto market today.
- DEXs (decentralised exchanges) present a very real threat to the Binance Exchange in the near future.