Overview
Binance Coin is the token launched by the Binance exchange. As the Binance platform does not support fiat currencies, traders can only trade using various cryptos. Binance Coin has become one of the most popular cryptocurrencies within a short time. Binance coin was launched in July 2017, and its ticker symbol is BNB. Binance coin’s ICO (Initial coin offering) raised 15 million in less than three weeks, following which it moved from Ethereum blockchain to Binance blockchain.
Binance Coin Performance So Far: Background
After the BNB ICO launch that took place in 2017 July, BNB was opened for trading. It was priced as 1BTC = 20,000 BNB or 1 ETH for 2,700 BNB. Initially, BNB was issued as an ERC-20 token that runs on the Ethereum network, and it has a supply of 200 million coins. Further, a hundred million BNB were issued for the ICO; the current total supply has gone down because of periodic burning events where Binance destroys BNB that are held in the treasury.
Experts’ Views on the Growth of Binance Coin
- As the cryptocurrency market is continuously evolving, cryptocurrency exchanges like Binance have potentially grown by launching their token BNB. Know more about the Binance exchange review here.
- According to the Binance coin forecast, if the big banks and institutional investors enter the digital currency market in the future, there might be an increased demand for Binance Coin.
- Since its inception, the BNB coin has performed well, even though it was a bit slow in the beginning; it had started to rise in the past two years.
- In 2018, this coin went down, and by the end of February 2020, its price had risen by 15%.
- Binance coin increased by 57% after February 2020, and it grew to 55% in March.
- BNB’s prices have become more static by the end of the second quarter of 2020, which have seen dips and tremendous rises.
- By April, the prices went up again and increased 20% higher by the end of the month.
- The price of BNB increased to 200% in 2021 February, and it further skyrocketed to $336 per coin.
- Seeing its upward trend, experts predicted that this trend might continue. They also believe that there are chances of major corrections in price.
Will Binance Coin Reach Its All-time High in 2021?
- People often wonder whether they should invest in Binance Coin for the long term. One of the best ways is to check the Binance coin price prediction offered by various Analysts.
- The brightest predictions offered by WalletInvestor for 2021 is that the price of BNB might grow by 17.31% during the year. Also, it is expected that there will be a fall in price in the middle of 2021, and it might remain above $30 that was achieved in 2019.
- As per WalletInvestor, BNB price would steadily grow and remain consistent at the current price and proceed to reach an all-time high of $38.91, which was achieved in February 2021.
Binance Coin Forecast for Upcoming Years
- Binance Coin can hit an all-time high of more than $2,000 by 2025. But there might be a dip from September 2022 to 2025 March, where the price might range from $700 to $870.51.
- Further, experts predict that the last eight months of 2025 will see a sudden rise of $1170, and it will steadily grow. By the end of 2025, a bullish trend will be observed, and by the end of 2025, the price might reach $2120.53.
- For long-term investments, it is predicted that a Binance Coin can perform well. According to the Binance coin forecast, the value of BNB will rise to $853 by the end of 2021, increasing to $1093 in 2022, and by 2025 it might achieve the price of $2350.
Final Thoughts
The outlook for Binance Coin for 2021 is more bullish. There are expectations that BNB might hit $1000 within the next few years. Currently, BNB has gained more value when compared to last year. This is mainly because of the Binance exchange platform; it has been forecasted that this coin’s value will increase in the forthcoming months.