BNB Price Prediction: Risk of Sharp Drop Below $300

bnb price prediction

The ICO price was denominated in ETH or BTC, equating to around $0.11 per BNB coin. Following its ICO in June and July 2017, the first recorded BNB price on CoinMarketCap was $0.1015. The BNB coin was created in 2017, shortly after Changpeng Zhao created the Binance exchange. According to Zhao, the BNB coin sales were the only funding he received to assist with building the Binance exchange. There is no specified amount you should invest in BNB, our best investment advice is to only invest what you can afford to lose.

bnb price prediction

The potential upper limit for BNB’s price could reach approximately $1842, while the lower threshold might stabilize at $1696 during 2028. Simultaneously, the mean valuation of the BNB crypto is expected to trade around $1770. According to our Binance Coin price projection for 2024, the upper potential value of the BNB coin could hover near $645, while the lower potential might be around $510. The projected average price level for Binance Coin is approximately $577. Individually listed on the Binance exchange platform, the Binance Coin is a digital asset trading with the BNB symbol. Established in 2017 and backed by blockchain, BNB runs on ERC-20 Ethereum.

The minimum trading cost might be $$197.81, while the maximum might reach $$504.48 during this month. On average, it is expected that the value of BNB might be around $$351.15. Considering the adoption of BNB by countries around the world, BNB can claim a maximum price of $1,412.81 by 2027 with an average price of $1,339.73 expected.

Binance Coin Future Forecast Analysis By Years

Over the last 7 days, BNB has been showing bearish signs, we expect a slight recovery within the next week as investors take advantage of this dip as a good time to buy BNB. For the year 2030, BNB is expected to continue to rally towards $2,143.57 based on market sentiment. Failing to gain this support could see BNB average around $2,070.49 and bottom out $1,997.42. Over the last 7 days, BNB has been showing bearish signs as the coin dropped 0.23%. Due to this, we expect a slight recovery within the next week as investors take advantage of this dip as an opportunity to buy BNB.

bnb price prediction

However, the business introduced its own blockchain, the Binance Chain, which makes use of the Tendermint byzantine-fault-tolerant (BFT) consensus algorithm. If there is a downside break below the $300 support, there could be an extended decline toward the $292 support. This past week, BNB price attempted an upside break above the $318 resistance.

BNB (BNB) Price Prediction / Market Forecast

RenQ Finance aims to connect all isolated blockchains and establish a cross-chain asset exchange network, providing all necessary underlying support for the DeFi ecosystem. The Binance Coin has shown a strong support level along its ascending trend line, which has helped it weather multiple bull and bear markets. Despite several price dips, the coin has consistently bounced back from these levels. However, experts predict that the token may experience minor swings towards the north and may test the lower trend line in the future.

Critical thinking questions are designed to engage deeper thought and understanding about the future price of Binance Coin. Keep in mind that past performance is no guarantee of future returns and never invest money that you cannot afford to lose. Binance will continue the quarterly coin burns until 100 million BNB are destroyed, equivalent to half the total supply. On 19 April 2022, the 19th BNB burn destroyed 1.8 million BNB in an auto-burn worth around $741m. The 22nd burn, scheduled for the fourth quarter, is expected to burn more than two million BNB coins, valued at nearly $582m on 11 November. Initially, the Binance currency was an Ethereum blockchain-based ERC-20 token.

Premium Binance Coin (BNB) Price Predictions

Before the serious hit of the crypto bears the BNB token was traded for $379, but at the beginning of June, BNB collapsed with the rest of the crypto industry. The price of BNB dipped to $269 and then recovered to $312 in the end of the month. The price of BNB will increase as more investors get involved in the project.

BNB has moved 1.32% in the last 24 hours with a trading volume of $316,628,001. Binance Coin is currently ranked 4 amongst all cryptocurrencies with a market capitalization of $37,536,616,853 USD. As of late summer of 2021, most experts agree that Binance Coin’s price tzki coin will keep going up, especially long-term. However, keep in mind that the crypto market is volatile and Binance Coin price predictions might change, so do your own research. As a cryptocurrency, BNB is used to be a trading asset and also to be used to reduce fees.

08/08. Binance Coin Price Today

Based on our Binance Coin price prediction 2025, the price of the token might record massive growth. By the end of 2025, the BNB price is forecasted to stand at a maximum value of $840 and a minimum price of $692. At the same time, the average value of the coin is expected to be around $766. As such, analysts and algorithm-based forecasters can and do get their predictions wrong. Based on historical data, the site’s BNB price prediction for 2023 indicated that the price could average $733.51 and then move up to $821.90 in 2024 and $1,155.95 in 2025. The site went on to make a binance price prediction for 2030 of $3,536.76.

  • If there is a downside break below the $200 support, there could be an extended decline toward the $180 support.
  • On the flip side, the BNB crypto may experience a low of $502.00, with an average price of $606.00.
  • As you may discern, BNB’s value has experienced an escalation of 0.9057% during the preceding 24 hours, and BNB has incurred a growth of 3.08% over the prior 30-day duration.

On January 9 the price reached $438, then there was a short bullish period that took BNB almost to $500, but after the middle of the month, the price of the Binance token collapsed again. It is used to pay fees on the exchange and trade in over 50 cryptocurrency pairs. The entire ecosystem is designed in a way to support a variety of utilities like trading fees, exchanges, fees, listings, etc. By May 2020 the token became the fourth largest one by market capitalization. As per our BNB price prediction, the maximum trading price of $BNB could potentially reach $710 by the end of 2025.

BNB price prediction based on worldwide money flows

If more investors are attracted to the project the prices of BNB Coin can skyrocket in upcoming years. But we would like to suggest our readers do some personal level analysis and study before making any crypto investment. As per our price prediction, the maximum trading value of BNB Coin can be around $409.39 in 2024.

Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. A move above $250 and a retest as support can also offer a risky buying opportunity. However, it is likely that BNB would drop lower based on the strong bearish momentum in December. Moreover, the $250-$275 level can be an area where demand can step in. Buyers can look to get in if the DMI indicates a strong upward trend, with the +DI and the ADX going above the 20 value, and the CMF climbs over the zero line. Formerly known as Binance Coin, BNB, which stands for “Build and Build,” was created by Binance in 2017.

For paying fees with BNB the users get discounts, the size of which depends on the time spent using BNB for the transaction fees. For example, first-year users of the Binance exchange can benefit from 50% off the fees. In five years, BNB will have a minimum price of $1,507.91 and a maximum price of $1,322.39 per BNB.

It is close to the 23.6% Fib retracement level of the downward move from the $317.1 swing high to the $303.2 low. The first major resistance is near $310 and the 100 simple moving average (4 hours). There was also a break below a key bullish trend line with support near $310 on the 4-hour chart of the BNB/USD pair. Yes, Binance Coin is worth buying for people who want to be diversified crypto investors. You can buy Binance Coin on Binance, of course (even with a credit card).

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Posted: Tue, 08 Aug 2023 11:01:47 GMT [source]

By evaluating these factors and using these tools, you can gain a better understanding of the current market sentiment for Binance Coin. This knowledge can inform your decisions and potentially help predict price movements. The Zig Zag indicator is a simple tool that attempts to identify price trends, support and resistance areas, and classic chart patterns like head and shoulders, double tops and bottoms, etc.

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