Binance today is one of the most prominent players on the crypto market, and its ecosystem keeps growing. Binance Coin that is tying it together surely benefits from this development, and so must its price. The ChangeHero team collected experts’ Binance Coin price prediction and opinions on the future of the BNB price.
What is Binance Coin?
Binance Coin (trading under the ticker BNB) is a cryptocurrency developed for use within the ecosystem of the Binance cryptocurrency exchange. It was launched in 2017 as an ICO (Initial Coin Offering) on the Ethereum chain to fund the launch of the exchange but later migrated to its own blockchain called Binance Chain.
The primary use case for Binance Coin is to pay for the fees on the exchange but as the Binance platform grew, new use cases emerged: now users can put their Binance Coins to use by funding IEOs on Binance Launchpad or paying for travel expenses on TravelByBit, for example. In our Beginner’s Guide for Binance Coin, you can find more examples of use cases or info on the tech and history of BNB.
Binance Coin Price History
Binance Coin price in 2017–2019
As an ICO, the tokens were sold in batches of 2,700 BNB for 1 ETH or 20,000 BNB for 1 BTC. At that time, in July 2017, it would make the Binance Coin starting price at about $0.1. Just a month later, when the ICO finished and the token was being traded on exchanges, the BNB price was already over $2.5. The Binance Coin launch coincided with the Bitcoin rally, so its price was rising quickly, and by the beginning of 2018, BNB’s price skyrocketed to $22.63 with most other coins.
Since then, Binance Coin’s price movements somewhat diverged from the rest of the market. The correction was as fast as the rise but BNB didn’t lose most of its value. It even experienced the bull market longer than the rest, from February up until June of 2018. Then the bears regained the initiative, and Binance Coin’s price went down from $17 to $6 by the end of the year.
After dropping sharply in November 2018, BNB entered consolidation, which lasted for two months, and started a huge rally in February 2019 in anticipation of the mainnet migration.
BNB Price in 2019–2020
By the time of the migration on April 23, 2019, Binance Coin’s price was $24.20. Just a few days later, there was a minor pullback, but then the price reached the current all-time high of $39.57 on June 22, 2019.
While this is an example of how BNB defied the market-wide trend, Crypto Winter caught up to it, too. In the second half of 2019, it was in a downtrend and finished the year 180% down from the ATH at $13.57 per coin.
Binance Coin’s price in 2020 caught the uptrend that followed the Crypto Winter and went back up to $26.38 in February, but another crisis changed the course and took the price down to $6.96. From there on, the price of BNB was in a barely noticeable uptrend that looks more like a sideways trend. However, it is now (at the moment of writing) being traded at $18.07, already more than doubling its price since the crash in March.
What influences the price
Binance Coin was designed to be used as a utility token to pay for fees on the Binance exchange only initially. The discount on fees has recently been reduced in half from 25% to 12.5%. This use case is being rotated out by making BNB more viable as actual digital money. Since 2017, it has already gained more use cases thanks to the new products connected with Binance, like Binance Launchpad, Charity or their partners: TravelbyBit, BitTorrent, Crypto.com and others.
Binance Coin is made to be deflationary: from the very beginning 200 million tokens were put into circulation but every three months depending on the volume traded on the Binance exchange a proportional amount of BNB is burned. This is set to continue until 100 million are burned and the total supply remaining is 100 million. There are two points of view on this mechanism: on the one hand, reducing the supply increases the value of the remaining coins, and doing so in predictable time intervals won’t cause supply shock. On the other hand, the amounts burned so far constitute a small share of the total supply, and do not affect the supply in the hands of investors.
As BNB gains more value by itself, attracting investors, with the introduction of Binance Smart Chain developers might also take an interest in building on Binance Chain. If Binance keeps up adding new projects to the ecosystem, they won’t let this potential go untapped.
Binance Coin on Twitter
Cryptocurrency analytics service Blockfyre recommend doing the research into Binance Coin for these reasons: it’s been around for long enough, there is a possibility of PoS being introduced and the recent 12th burn reduced the supply even more.
Speaking about new products in the Binance ecosystem: here is the proof CZ himself participated in the testing of the new Swipe card and made a few purchases with BNB. This is a huge leap for the adoption of the coin for sure!
Trader @JJcycles predicts that BNB is about to shoot up in the light of the recent developments. The top mark on this BNB/BTC chart corresponds to 1.618 BTC by mid-2021.
Binance Coin Price Prediction for 2020
CryptoRating BNB Price Prediction: $20.49
Based on their findings around the volatility index and historical data, CryptoRating predicts the price of Binance Coin in 6 months will go up by 16% and reach $20.49. Such a bullish sentiment is also based on the strong fundamentals of BNB.
WalletInvestor Binance Coin Price Prediction: $7.342
A much more bearish evaluation for Binance Coin is given by another prediction service, WalletInvestor. In the short term, the resistances it might test will not exceed $23, and in September and October the price of BNB will enter a downtrend which will take it to $8. With a small bump, it will continue until the end of the year, and the average trading price of Binance Coin will stay around $7. The prediction for BNB’s closing price is $7.342 average and $12.453 maximum.
Binance Coin Price prediction for 2021–2024
TradingBeasts Binance Coin Price Prediction: $14–16 in 2021, $13–15 in 2022
While some Binance Coin price predictions state that in five years the coin will be growing, some others like the TradingBeasts’ forecast suggest the opposite. Their data shows a gradual decrease with some fluctuations over the course of the next two years. 2021 will close with BNB costing $14.361 on average, and the closing price for 2022 will be slightly higher: $15.379.
DigitalCoinPrice BNB Price Prediction: $29.93 in 2023, $50.02 in 2024
As for the next couple of years, let’s refer to a more forward-looking assessment. According to this BNB price prediction, 2023 will become the year when in the next five years the positions of BNB will be the lowest. Anyway, the average price of it will round up to $29.93, which is a lot higher than the current level. 2024 will be the year when the average Binance Coin price will be the highest, surging to $50.02, the data suggests.
Binance Coin Price prediction for 2025
DigitalCoinPrice Binance Coin Price Prediction: $83.84
In 2025, the price of Binance Coin will be fluctuating wildly, prediction-generating platform DigitalCoinPrice forecasts.
The lowest price averages will be seen in March ($24.42) and May ($20.29). Meanwhile, in February the price of BNB is predicted to quadruple up to $83.84 and drop until the next month back to $24.42.
Gov.capital BNB Price Prediction: $152–206
Another price prediction web-platform gives an even more bullish figure: Gov.capital claims that in exactly five years from now, the price for a single BNB may be anywhere from $152.6022 to $206.4618. It may look unrealistic now, but given the past performance of some of the top market coins, we might come to the conclusion that it is too soon to say what is realistic in the crypto market.
Binance Coin Price prediction for 2030
Captain Altcoin BNB Price Prediction: $15 to $150
As Torsten Hartmann of Captain Altcoin says, it is indeed a thankless task to try and pinpoint the exact figure that the price of any coin might reach. Moreso, when we are talking about a whole decade ahead of us. But if Binance Coin is truly here to stay, it might as well be worth hundred times its current all-time high, which would put it nearer to $4,000, but to be on the safe side the writer curbs his expectations and gives a bit more realistic estimate of $150 in good case scenario and $15 in a bad one.
ChangeHero’s Binance Coin Price Prediction
Most of the forecasts show a very bright future for BNB. Traders in their short and long-term predictions agree that Binance Coin’s fundamentals are strong and the exchange’s ties backing the coin provide the investors with the much-needed trust in the future of the currency. Our team also finds Binance Coin to be one of the most interesting coins out there which are guaranteed to succeed.
We would love to hear your thoughts on the future of Binance Coin, or your favourite coin for that matter! Feel free to proceed to any of our pages on social media: Twitter, Facebook, Reddit and in Telegram. And don’t forget to subscribe to our blog!
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This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.