BNB could surpass $1,000 and reach $1,873 as early as mid-2021, as predicted by Coin Price Forecast. They also predict $13,064 by 2025 and then $25,034 by 2030. An increase of +5,113%.
Binance Coin is one of the best performers of 2021 so far. Starting 2021 at $38.61 it has soared to $598.19, a new all-time high on the 13th of April 2021.
That’s an insane increase in four months!
Most of Binance Coin’s success this 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 26 DeFi projects, the same number as Bitcoin, 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 mid-2021, BNB will reach $1,873.
The Economy Forecast Agency also predicts that Binance Coin will reach $1,000 in 2021. They suggest that BNB will likely close 2021 at $1,049 in December.
Meanwhile, most other forecasters believe it will take a few years for BNB to reach $1,000 per coin.
WalletInvestor believes that in the next five years (likely 2026), BNB will reach $1,395.85, surpassing $1k.
So, it is pretty reasonable to assume that BNB will reach $1,000 in five years.
Bearing in mind the transformation Binance Coin has already achieved in 2021 alone, many of these predictions may be too conservative.
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.
Coin Price Forecast is the most optimistic that we will see Binance Coin reach $10,000. They predict that BNB could reach $11,114 by 2023. They also predict that Binance Coin could reach a maximum of $13,064 by 2025 and then $25,034 by 2030. That’s an increase of +5,113%.
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.
Most other price forecasters do not anticipate Binance Coin to reach $10,000 in the next few years.
For example, Cryptocurrency Price Prediction believes that by January 2030, BNB will reach $14,735.61. Before this date, their highest prediction for BNB is $6,860.51 by December 2025.
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 $25,034 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 has soared to $598.19, 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 by 2021, according to some forecasters. Others believe it may take a couple of years but may happen before 2025.
- Coin Price Forecast predicts that BNB could be worth $25,034 by January 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.