(Updated May 21, 2022) Binance coin had a spectacular year in 2019, even though its growth did slow down in the second half of the year. Buoyed by the launch of several IEOs through the Binance launchpad, BNB price managed to outperform BTC by the end of the year achieving gains of over 150%. Remember this token at some point in 2019 managed to register gains of over 600%.
Key to the success of BNB price has been how Binance exchange has masterfully managed to engineer the token to become an all-encompassing aspect of every facet of its ever-growing ecosystem. So far, it’s being used to purchase tokens for various IEOs, BEP2 transaction fees, DEX listing fees, and BEP2 token migrations.
This increased utility means BNB price will continue to perform well throughout 2020.
In this piece, we are going to take a look at expert opinions and technical analysis, which suggest that BNB price is set for good times in 2020.
Experts’ Opinion On Why BNB Price Will Rise
Tomaino, a former Coinbase employee, believes that there is a bullish case for BNB token. He argues that this will remain to be the case of Binance maintains its dominance in the cryptocurrency exchange industry. This is contingent on Binance evolving with improvements in decentralized exchange services. This will see the coin’s price surge.
According to a leading crypto publication, Binance platform has successfully launched several projects, such as the BitTorrent token (BTT) and Fetch.AI (FET) token, and it is also planning to revive initial coin offerings by generating quality tokens with strong user cases, which will encourage massive participation. Such developments will increase BNB’s adoption, and boost its price.
Messari reported that the ROI for BNB price over the last one year was 154%. However, in the last six months, the ROI increased to 560%. Part of the reason is the platform’s strategy of frequently ‘burning’ BNB to constrict supply. As a proven strategy, this shows that the coin’s price will rise.
Additionally, WalleInvestor.com believes that Binance Coin is a profitable investment option. According to the site’s long-term forecasts, an increase is expected. The price prognosis for 2024-06-22 is $71.763. With a 5-year investment, the ROI is expected to be +93%. This prediction is based on previous and current developments on Binance platform, and its future plans.
Other factors that promise to push BNB price even higher.
BNB Is Fast Becoming The Next ICO Token
The rise to prominence of the IEO fundraising model has played a crucial role in the growth of BNB price. Binance kept their promise of supporting at least one project every month through its launchpad.
By the end of the year, the exchange had held IEOs for eleven different projects, including; BitTorrent, Fetch.AI, Celer, Matic, Harmony, Elrond, WINk, Perlin, Band, Kava, and Troy.
The Launchpad allows projects to issue their tokens on the Binance Chain, which offers a simple and less error-prone platform compared to writing smart contract code.
It also provides the projects with a chance to get their tokens listed on the Binance DEX by being voted by the community.
To participate, one needs to have BNB, and this explains why we saw the token increase in value in 2019. With more IEOs scheduled to be launched this year, we can expect to see the price of BNB continue to appreciate. At the time of writing, Binance Coin is among the top 10 cryptocurrencies in the world thanks to the plans implemented by the company over the last few years.
Binance Coin for Decentralized Finance
Binance Coin (BNB) has been in a bull market for several months since it reached a bottom in December 2018. The virtual currency was able to reach massively high prices surpassing $600 in April 2021.
One of the reasons related to this price increase and interest from people on BNB Price could be related to the Decentralized Finance industry. Several projects are now working on top of the Binance Smart Chain (BSC) which is now one of the most efficient blockchain networks in the market.
The entire crypto market is now experiencing a massive expansion thanks to the DeFi market. Swapping platforms and farming protocols became very popular for small investors that want to earn high rewards on their coins.
While in the beginning, Ethereum was the network in charge of handling the largest DeFi volume, Binance offered a large advantage to smaller and retail investors: an easy to use, cheap and fast platform compared to Ethereum.
What is Decentralized Finance?
Decentralized finance, also known as DeFi, is an industry inside the crypto market that offers financial services that do not depend on a centralized authority. These solutions are focused on staking, farming, liquidity provision, swapping, lending and borrowing.
Everything is done and performed through smart contracts and platforms that interact with your crypto wallet such as MetaMask. BNB price has been growing thanks to the fact that a large number of projects have been released on top of the Binance Smart Chain platform.
These projects are powered by proprietary tokens and the BNB digital asset. As there has been a larger number of individuals investing in these DeFi solutions BNB price experienced stronger buying pressure from different sectors of the crypto market.
The entire Binance ecosystem is now being built around DeFi and the Binance Smart Chain that continues expanding and growing. If DeFi projects such as PancakeSwap, Venus or ApeSwap continue expanding, it might be possible for BNB to eventually surpass Ethereum.
Top DeFi Projects on Top of the Binance Smart Chain
There are several projects that are now running on top of the Binance Smart Chain. Some of these projects include the following.
ApeSwap is a cryptocurrency and DeFi project that has been released on the Binance Smart Chain. This Decentralized Exchange (DEX) offers users with a wide range of solutions such as liquidity pools, token farming and even an Initial Coin Offering (ICO) platform called Initial Ape Offering (IAO).
By using the BANANA and GNANA tokens and leveraging the speed and reliability of the Binance Smart Chain, ApeSwap is becoming one of the fastest-growing projects on Binance.
Pancake Swap is perhaps the most popular DeFi project that is powered by Binance Coin and the CAKE digital asset. Pancake Swap is very similar to ApeSwap and was a pioneer running on the Binance Smart Chain.
Users can exchange their tokens (BEP-20) using this platform and enjoy a wide range of liquidity pools, farms and more. The CAKE token is now among the largest in the world and it is also helping to increase BNB price through its different farms.
Venus is a DeFi project that has developed the first decentralized stablecoin on the Binance Smart Chain. Users that hold the VAI digital asset are able to get attractive lending rewards. Users can easily earn interest on their digital assets such as Tether (USDT), Binance USD (BUSD) and USD Coin (USDC).
These are just some of the different projects that have been released on top of the Binance Smart Chain, but there are many others that are now being developed and that could become even larger in the coming months and years. All these things are certainly going to have a very positive impact on BNB price. Thus, as an investor, it is very important to follow the trend that has started in the DeFi market on top of the Binance Smart Chain.
You Can Now Purchase Real Estate Using BNB
On October 10, 2018, Propy, a real estate firm that accepts payments in cryptocurrencies announced that it would take BNB for property purchases. The announcement was made via Twitter, and it had Changpeng Zhao the CEO of Binance excited:
“Propy will accept BNB for home buying! @Binance Chain is coming and $BNB, which is a great store of value today, will turn into programmable money. For the rapidly growing BNB community, we make it possible to invest in real estate with easy paperwork at Propy.”
Propy is a global real estate marketplace that has a decentralized title registry. By adding BNB as a payment option, the team behind the company aims to resolve issues that hamper international real estate transactions.
Also, they aim to create a unified property store and asset transfer platform for the global real estate industry.
Propy uses smart contracts to connect buyers, sellers, brokers, and escrow/title agents/notaries.
This move is significant for Binance Coin because as more people opt to pay for their property using BNB expect its price to rise higher.
Pay For Your Flight Using BNB
Recently Binance teamed up with TravelBit an Australian company to create a point of sale (POS) in airports both locally and internationally. The partnership saw Binance invest $2.5 million in the startup. So far, the company has managed to launch a payment system in Brisbane airport.
With the money invested by Binance, TravelBit intends to set up cryptocurrency payment terminals in other major airports around the world. It’s a move that will accelerate crypto mass adoption.
Currently, the new POS terminals accept only the top crypto coins – Bitcoin, Ethereum and Litecoin. And very soon BNB will be added on that list. What could this mean for BNB price? We’ll have to see, but it could be huge, as the travel industry touches billions.
TravelBit describes itself as the world’s first digital currency airport. Together with Binance, both plan to promote blockchain based technologies globally.
On the partnership, Changpeng Zhao said:
“Real usage is the most important factor on the way to cryptocurrencies’ adoption. It’s difficult to imagine a better example of cryptocurrency usage than traveling as right after you land in a foreign country you can find yourself lack of local currency.”
In conclusion, these three instances serve to show the growing acceptance of the Binance Coin. It’s safe to expect this adoption to be reflected on its price very soon.
In more minor news, BNB continues to see investment interest from different strategies used by Binance.com Some of those include:
- Lower transaction fees when it is used as the transacting cryptocurrency on the Binance exchange.
- Various trading competitions which periodically award BNB tokens as prizes. Binance’s Twitter feed has provided some details of the latest Binance competition which will give out 8000 BNB tokens.
- The global expansion of Binance, which has recently opened an African office in Uganda.
Binance Coin (BNB) Price Prediction 2022
2022 is expected to be a very positive year for Binance Coin (BNB) price prediction. Indeed, there are many things that we should take into consideration about the Binance exchange and how it has been expanding over the last years.
Understanding how BNB could behave in the coming years is very important. This would give us detailed information about how the market behaves and whether it could be a good investment or not to add BNB to our portfolio. In the next sections, we are going to share with you all the details about Binance Coin and how this virtual currency became one of the largest in the cryptocurrency market.
What is Binance Coin (BNB)?
Binance Coin (BNB) is the cryptocurrency used on the Binance exchange and the whole Binance ecosystem. Binance started as a cryptocurrency exchange that fastly became one of the largest in the world in terms of trading volume, surpassing other long-standing exchanges in the market.
Thanks to this explosive growth, Binance was able to expand its offering and services. It did not only let users trade and handle virtual currencies but it also allowed investors to engage in different activities in the cryptocurrency market. One of the solutions offered by Binance is known as Launchpad. This service lets users buy cryptocurrencies from projects that are being crowdfunded.
Nowadays, the solutions are even larger. For example, investors can easily borrow and lend funds if they want to do so and with different virtual currencies. Moreover, investors can deposit their virtual currencies on the Binance exchange and they would be able to stake them in order to earn rewards and participate in different crypto protocols.
Additionally, Binance has recently released the Binance Smart Chain (BSC) blockchain network. Users can use BNB in order to engage on different decentralized finance (DeFi) and NFT platforms. The BSC became very popular thanks to its fast and cheap transactions using Binance Coin.
Binance Coin (BNB) Fundamental Analysis
The future of Binance Coin is highly related to the expansion of the Binance ecosystem in the cryptocurrency market. As we have seen, Binance was able to create a fast-growing ecosystem with a large number of solutions and projects that attracted a large number of users from all over the world.
If the decentralized finance market continues to expand, this would create a larger demand for BNB. Binance Coin was able to become the third-largest cryptocurrency in the world right after Bitcoin (BTC) and Ethereum (ETH), showing that Binance Coin is definitely a clear leader in the cryptocurrency market.
Another important thing to take into consideration about Binance Coin is related to the expansion of the crypto exchange. Binance could offer new and innovative solutions to investors from all over the world that would like to get access to the cryptocurrency market. With the expansion of the services they offer and a larger number of users, BNB could continue expanding thanks to a larger demand for this virtual currency.
Of course, this would be highly related to the growth of DeFi, NFTs, cryptocurrencies and other crypto-related solutions that Binance could offer and link to its BNB virtual currency.
Binance Coin (BNB) Price Analysis
When it comes to Binance Coin and its price analysis, let’s have a look at what happened during the last years. Binance Coin was released in 2017 and it experienced a very positive trend throughout the years. Indeed, it was released close to $0.11 per coin and it reached a high of over $36 per coin in mid-2019.
Things changed later and in 2021 the price of this virtual currency exploded. It reached an all-time high of over $675 in May 2021 when there was a large interest in decentralized finance solutions (DeFi) and NFTs.
After the peak in May 2021, there has been a period of accumulation. BNB was able to surpass $600 once again but it did not hit another all-time high since May 2021. The main question is now whether BNB would be able to continue with its price expansion in the coming years or not. As we have already seen, there are many things that would have to happen in order for it to continue growing.
As you can see, Binance Coin has entered a new bear trend that could be reversed very soon. However, this would highly depend on Binance Coin market price prediction for the coming months and years. This could be a momentaneous price drop or it could continue throughout 2022 and 2023 as interest rates move higher and risk assets lose steam.
Binance Coin (BNB) Market Price Prediction
Let’s now focus on Binance Coin (BNB) market price prediction. The future of this virtual currency would highly depend on Binance as a company. Despite the coin being “decentralized”, Binance has a large influence on BNB, meaning that without Binance, BNB might not be able to continue moving higher.
We should take into consideration that regulators from all over the world are trying to control the cryptocurrency market. This could have an impact on Binance, meaning that it would be very important to follow how regulators could hit BNB.
At the same time, to make a Binance Coin price prediction we should also analyse the technical aspects of this virtual currency. That includes the price performance over the last few years and how it could behave in the next few months and years. That being said, it might be possible for BNB to hit new highs and reach even higher prices in 2022 if the whole cryptocurrency market continues to move higher. Let’s now get into the details of this Binance Coin price prediction for 2022.
Binance Coin (BNB) Price Prediction 2022
2022 started in a very difficult way for Binance. We have seen that this virtual currency has been affected by the recent price action in the cryptocurrency market. The beginning of the year has been very tough, not only for Binance Coin but also for other digital currencies. This is why it is very important to understand the way in which it will continue to evolve the market throughout this year.
The main thing that we should take into consideration is related to macro things and events such as interest rates moving higher and traditional markets falling. We have seen these things starting to move in early 2022. This is why prices have been affected so badly.
Binance Coin is definitely going to be very correlated to the general trend of the market. Bitcoin continues to be the leader and to dominate. Right now, BNB has been one of the most affected digital currencies during the recent sell-off. The same has happened to different projects that have been released on top of the Binance Smart Chain.
Binance Coin (BNB) Price Prediction 2023
When it comes to analyzing the price of Binance Coin for 2023, it would be key to understand what happened in 2022. However, markets have been very volatile recently, which is something that happens to cryptocurrencies on a regular basis.
If 2022 continues as a bull trend for virtual currencies, then 2023 could be a year in which the market could experience a downtrend or a correction. This is normal after years in which the price of the virtual currency did not stop moving higher.
If 2022 is not the end of the bull market, then we could see new highs even in 2023. However, this would highly depend on what happens in 2022 and how the price of this virtual currency behaves.
Binance Coin (BNB) Price Prediction 2024
We have two main possibilities for 2024. We could enter a bear market after a bullish 2023 or we could experience a continuation (consolidation period) of the bear market that could have started in 2023.
It would be very interesting to see and understand how 2023 will end up playing out. This would pave the way for a bearish or consolidating 2024 when it comes to BNB price prediction. One thing is clear, 2024 might not exactly be a bullish year for virtual currencies. As we can see, there are different cycles that the market follows that get repeated every some years and that tell us very valuable information about digital assets.
Binance Coin (BNB) Price Prediction 2025
Finally, for 2025 we see that Binance Coin price could start recovering after a bear market in 2024. It could be a full recovery or simply a transition year in which cryptocurrencies would start moving higher once again after several years of accumulation.
Of course, it is quite difficult to be able to predict what could happen to virtual currencies in over three years. However, as we know that there are different market cycles, it is possible to already get prepared for them and make sure that we are ready to experience both a bear market or a bull trend with possible new highs.
How to Buy Binance Coin (BNB)?
It is now time to understand how to buy Binance Coin using a cryptocurrency exchange.
Step 1: Search for a Cryptocurrency Exchange and Open an Account
The first thing that you have to do is searching for a cryptocurrency exchange that will let you buy BNB. At the moment, Binance is the best platform to buy BNB and it is expected to remain in this way for a long time. That means that users will have to open an account on Binance.
Binance will request some details and information from you before you are able to complete a full registration. You will have to share an email address, a password and some private information such as ID and a selfie. If you want to have higher limits and fewer restrictions while operating, you should share additional information.
Step 2: Deposit Funds
Thanks to Binance’s work over the last few years, it is possible to enjoy a wide range of payment methods on its platform. That means that depositing funds on Binance should not be a difficult thing to do. Users will have the possibility to make deposits of different fiat currencies using a wide range of payment methods.
Users can fund their accounts using bank transfers, debit and credit cards and other third-party payment methods. This would be very important for you to buy Binance Coin using the Binance exchange.
Step 3: Buy Binance Coin (BNB)
Finally, you should buy Binance Coin. This can be done in two different ways. You could directly purchase BNB with fiat currencies without having to go through the exchange, or you can deposit funds and trade them on the professional trading platform offered by Binance.
Newcomers might find it easier to buy BNB directly when they make a deposit (you will deposit EUR but you will receive BNB). Instead, traders and people that want to diversify their portfolios or have more advanced trading tools might find it better to use the exchange. This is one of the easiest ways to buy Binance Coin online right now. In the future, there might be other exchanganges offering these services.
Frequently Asked Questions (FAQ)
These are some of the FAQ that people have about Binance Coin. There are many other things to take into account about Binance Coin, but these answers would give you a clear idea of how Binance works.
What is Binance?
Binance was a cryptocurrency exchange that became one of the largest cryptocurrency ecosystems in the market. Nowadays, Binance does not only offer trading solutions to investors but it has a wide range of other services such as staking, lending and borrowing. Moreover, Binance has created a blockchain network called Binance Smart Chain (BSC) that is now one of the largest in the world after Ethereum.
Difference Between Binance and BNB (Binance Coin)
Binance is the ecosystem on which the BNB digital currency runs. There are different applications and protocols that require BNB in order to properly work. The Binance Smart Chain requires users to hold BNB in order to process and pay different smart contracts.
Where Can I Buy Binance Coin (BNB)?
You can buy Binance Coin directly from Binance, the native exchange for this virtual currency. There might be other platforms where you could get access to BNB, but Binance would be the best option right now.
Binance Coin (BNB) Price Prediction TradingView Analysis Updated May 21, 2022
Binance Coin (BNB) has also been affected by the recent market sell-off experienced by the whole cryptocurrency market. We have seen the coin move from close to 383 USDT to 220 USDT per coin. Now, BNB has recovered and it is being traded at close to 295 USDT.
As per this analyst, there is a possibility for BNB to start moving higher once again. He shows that there has been an inverse head and shoulders that could push the coin towards different resistance levels. These price levels include 329 USDT, 361 USDT and 383 USDT.
There has also been a breakout of the neckline. If the trend continues, we could see BNB moving higher. However, there is also a possibility for BNB to come below the neckline. If that happens, the analyst has already created a stop loss close to 271 USDT per coin.
The BNB/USDT trading pair has been moving lower since the beginning of April. This has pushed the price of the coin from 450 USDT to below 380 USDT at the end of April. Now, the analyst considers that there could be a move higher to close to 400 USDT before BNB would experience a pullback to 374 USDT. This is a very important support level that could help BNB’s price to sustain its price level.
Now, if BNB breaks that support level, the coin would be falling to 353 USDT and 323 USDT where there are other important support levels. This would happen due to the fact that BNB would be breaking below a very important support level that worked in the past for BNB. Understanding what could happen with the entire crypto market will be very important to see what could happen to BNB in the near future.
For Binance Coin (BNB), this analyst says that we might be getting strength from buyers in the coming days and weeks. We also see that the analyst has drawn different support and resistance levels in the chart. These levels include a stop loss at 397 USDT and two take profit targets at 440 USDT and 457 USDT.
There are other price levels to take into consideration that have been drawn in the chart by this analyst. These price levels include 360 USDT per coin, 411 USDT and 427 USDT per coin. It would also be very important to understand what could happen with Bitcoin in the coming days and whether the largest cryptocurrency could push the price of this virtual currency higher. When Bitcoin moves higher, altcoins tend to follow, therefore we should pay attention to this as well.
BNB/USDT is currently in an upwards trend that started back at the end of February and that continues until today. This expert shows that there is a strong resistance level close to 450 USDT and that this could make it difficult for BNB to continue moving higher.
Despite that, the analyst believes that BNB is able to break above that level, retest it, and continue its move towards a price per coin of 565 USDT per BNB.
Another thing that we should take into consideration about Binance Coin is that it has recently re-tested the upper boundary of the ascending triangle in which it was and this looks very bullish for Binance’s digital asset.
It might be very important to follow what Bitcoin does in the coming days and how this could have an impact on altcoins.
This BNB/USDT trading analyst is making a weekly analysis of the BNB cryptocurrency. He shows that there has been an ascending triangle for BNB and that the coin has been trending higher over the last few days. Now, it is a matter of time to understand whether it would be possible for BNB to continue moving higher following the lower boundary of the ascending triangle.
Another thing to take into consideration is that BNB is currently moving away from the current support level. That means that it could have formed a bottom in recent weeks and the price of the virtual currency could accelerate its growth and continue moving higher. The analyst considers that due to this reason, there is an indication of a possible uptrend in BNB for the upcoming days. BNB’s performance is also quite linked to Binance’s expansion and performance in the market.
It’s clear from the above analysis, expert opinions and the general bullish mood within the crypto market that this would be the perfect time to get your hands on some BNB. Especially now that the market has retracted as it prepares for the next rally as we move closer towards the final quarter of the year.