If you have in any way come across Binance Cryptocurrency Exchange, then it is noteworthy that Binance Coin (BNB) is the native coin that serves as a utility token, useful to pay transaction fees. However, the BNB price has had a positive impact through the adoption of the DEX platform of Binance and Binance Smart Chain (BSC).
Initially launched as an ERC-20 token, Binance coin which can be traded with other assets like Bitcoin, Ethereum, etc, rallied nearly 1400% in 2021, thereby attracting investors, which enabled its migration on its blockchain, Binance Chain.
Finance coin was launched in 2017 with a breakthrough in 2019 when businesses started accepting the coin as payment. Also, BNB offers users exclusive access to advanced features to be used on the new decentralized exchange.
BNB entered the crypto market on July 25, 2017, with a trading price of $0, but the price started having an improvement to reach $3 at the end of August 2017. With certain fluctuations, BNB ended 2017 with a trading price of $8. In January 2018, the price peaked at $23.25 but was able to survive turbulent price fluctuations till it ended December 2020 with a $37 price.
Binance Coin Price Prediction 2021
BNB price rose above $40 in the week of January with a rising trend to hit the $50 mark within a month. With a rising price trend, the price of the coin rallied at $100 within the space of days as it continued to smash ceilings $200 up to the $400 mark. Interestingly, the crypto space was thrown into astonishment when Binance coin hit an all-time high of $690.93 on May 10, 2021. Despite encountering some dip, the price still trades above $500 strongly.
As there is a concentration shift towards buying Altcoins by traders and couple with certain fluctuations, it is believed that the BNB price may hit $1000 by the end of 2021. On the other hand, the price might be hovering around the range of $500 to $800 if Bears rule the Altcoin market.
According to DigitalCoinPrice, BNB will rise to reach a price close to $718 by the end of 2021, and the price is expected to hit $1427.49 by the end of 2025. The Longforecast analyst predicts that the price may trend between $934 to $1159 by the end of 2021, which appears with the probability of surpassing $1700 by the end of 2023.
Binance Coin Price 5 Years Price Prediction
There has been an envision that BNB might start the year 2022 with a trading price above $1000. And with high hopes, it is expected to reach $1500 by mid-June and might continue to be at the consistent level for several months. It is expected that the price might trade at $1800 by the end of 2022.
Furthermore, the Binance coin might continue to increase in the next five years and it may break all its previous price records by touching the new height. It is however possible that Binance might introduce new features to its trading to enhance the minds of the investors to invest in the coin as it introduced some of the features like Asset Conversion, Cross Collateral, and Price Protection. Therefore, BNB might reach the $5000 mark in the next five years.