Will Binance Coin Reach $1,000?
Is It Worth Buying Binance Coin?
Binance Coin will likely reach $1,000. If the Binance Exchange stays strong and DeFi projects grow on the Binance Smart Chain, BNB might even reach $2,000.
- Cryptocurrency Price Prediction predicts Binance coin to reach $1,000 by September 2021. Coin Price Forecast predicts $1,757 by the end of 2021.
- Meanwhile, more conservative price forecasters believe Binance Coin BNB will surpass $1,000 between January and August 2023.
The primary reason behind Binance Coin’s rise to the top is the Binance Smart Chain. A separate chain launched in September 2020 that supports dApps and DeFi projects.
Before the Binance Smart Chain, BNB was only really used as a utility token on the Binance Exchange. It can be used there to get a discount on trading fees.
But as Ethereum transactions rose in value and became more volatile, many DeFi projects started looking for an alternative. And they found that alternative in the Binance Smart Chain, which in turn, significantly boosted the price of BNB.
Can Binance Coin Reach $1,000?
Yes, several price forecasters have predicted that Binance Coin BNB can reach $1,000. Though they do not all agree when this will happen, their predictions suggest that 2023 is the most likely year.
Based on these predictions, it may be wise to hold onto BNB tokens for a few years before you think about selling.
But some predict that Binance Coin can reach $1,000 in 2021. Cryptocurrency Price Prediction predicts a price of $1,015.75 by September 2021. Coin Price Forecast predicts $1,757 by the end of 2021.
Remember, the further Binance Coin is from the price of $1,000, the harder it is to predict when it could happen.
Can Binance Coin Reach $2,000?
Several price forecasters see Binance Coin reaching $2,000 within the next five to seven years. WalletInvestor forecasts that BNB will first hit $2,000 by February 2026. DigitalCoin predicts that Binance Coin will surpass $2,000 by October 2028 and hit $2,021.32.
Do note that $2,000 is more than four times BNB’s current price and so it is difficult to predict when this point can be reached.
However, some price forecasters do not see BNB reaching $2,000 any time soon.
The Economy Forecast Agency does not see Binance Coin going further than $1,448 by February 2024. Trading Beasts also does not predict anything higher than $1,075.009 by December 2024. And finally, Gov Capital sees a max price of $1,692.3147 for BNB by May 2026.
Despite this, it doesn’t mean that they believe BNB reaching $2k is impossible. It just means they don’t see it in the near future.
Where Will Binance Coin Be in 5 Years?
In five years, Binance Coin could reach a maximum price of $8,761 by the close of 2026, an increase of +1,958%, according to Coin Price Forecast.
But not everyone is so bullish. DigitalCoin foresees a maximum of $1,726.65 by August 2026 and WalletInvestor forecasts that Binance Coin will hit a potential high of $2,216.480 in May 2026.
Gov Capital also believes that May 2026 will see BNB reach its highest price of $1,697.6415.
Where Will Binance Coin Be in 10 Years
In 10 years, Binance Coin could reach $17,336 by the end of 2031, an increase of +3,972%, according to Coin Price Forecast.
Similarly, Cryptocurrency Price Prediction estimates the price of BNB to be valued at $17,505.43 by December 2030. Do note though that it is hard to find predictions for what Binance Coin could be worth in 10 years. Many unknown factors could affect BNB’s valuation by this point, both positively and/or negatively.
A lot can change in 10 years so don’t plan your investment goals strictly around these forecasts! Do your own research too!
Should I Buy Binance Coin?
“In Q1 2021, the dollar value of crypto assets under management by DeFi applications appeared to grow 150%, from roughly $20 billion to $50 billion”.
And there is no reason to expect DeFi to slow down in the coming years.
Of course, though, there are concerns with Binance Coin. The biggest being how centralised BNB is.
Though the Binance Smart Chain has 21 node operators, they are voted for by BNB holders. This is problematic because Binance owns approximately 80% of all BNB tokens. This means they can effectively put whoever they like in charge of validating the network.
Elsewhere, Elon Musk did us all a massive favour by dropping Bitcoin as a payment method for Tesla. He made buying crypto way easier as prices plummeted across the board.
Cryptocurrencies will likely recover from this fall and so all Musk has done is create an excellent buying opportunity. The DeFi market is much stronger than Tesla and Musk.
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- BNB will most likely reach $1,000 between January and August 2023, though some believe it is possible within 2021.
- Binance Coin will likely surpass $2,000 in five to seven years based on various price forecasts.
- In five years, BNB could reach as high as $8,761 by the close of 2026.
- By 10 years, Binance Coin could reach $17,336 by the end of 2031.
- If you believe that the DeFi market will grow, there is no reason to expect BNB’s price to slow down.
- Do note that approximately 80% of BNB tokens are owned by Binance. This means that BNB is very centralised.
- Tesla dropping BTC as a payment method has created a great opportunity to buy BNB at a lower price.