Binance coin (BNB) Price Prediction 2022, 2023, 2024

Binance recently completed its 17th quarterly BNB burn on October 18th, 2021, where they burnt 1,335,888 BNB tokens worth approximately $639,462,868—bringing the current total BNB to 166,801,148 BNB.

The Binance team commits to keeping the BNB deflationary by repurchasing and burning specific BNB percentages quarterly until about 50% (100,000,000) of the entire circulating BNB is burnt.

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This technical score is calculated using multiple analytics sources and is designed to predict the future movement of crypto. Scores above 70 are considered bullish and scores below 30 are bearish.
Source: binance.com-blog

Binance has now burnt 30,390,791 (15%) BNB in 17 quarterly burn sessions. (2017-2021).

BNB’s future price prediction, as with most DigitalCoin price predictions, is not set in stone, but the technical analysis in this article should be as close to the actual price as you can hope to be forecasted.

Binance Coin, from its past performance, has gone through incredible appreciation, over 400,000% appreciation in just four years.

As easy as it is to presume to achieve this was a walk in the park for Binance, you might be shocked to learn otherwise in this article.

BNB Current Overview

BNB CoinMarketCap current Price Statistics (14th Nov, 2021)
Binance Coin Price $653.42
Last Price Change in 24 hours $0.6279
Price change/ per 24 hours $0.6279
Trading Volume 24 hours $2,092,599,592.90
Volume/ Market Cap 0.0193
Market Dominance 3.83%
Market Rank #3
Binance Coin Market Cap $108,427,620,032.73

BNB Prediction for 2022

2021 has set the bullish trend for 2022. 

Binance is also planning to enlist BNB Blockchain as the Binance Mainnet’s primary service running on it.

The Binance network just recently signed new partnerships worth thousands of dollars with tens of new investors. If the network also chirps in a trading fee discount for investors investing in BNB, the Binance Coin might be hitting as high as $900 to $1000 by 2022’s Q1.

If the bullishness continues, there isn’t any reason to worry about any significant shift in value.
If there might be bearishness in the later Quarters of 2022, the difference shouldn’t’ exceed $200 to $300, which might bring BNB’s price in the 2022’s Q3 and Q4 to $700 to $900.

BNB Prediction for 2023 to 2025

In the next five years, BNB can hit $5,000. The Binance network is quite far-sighted, and there are pointers to future partnerships, integrations, and long-term targets. 

Provided Binance keeps up with actively investing and creating use cases and technology to support the BNB coins, they might not have to wait five years to hit $5,000.

However, the crypto market is always volatile, and risks are not 100% unavoidable, but if everything goes right, or provided Binance handles the wrong things the right way, then the BNB sure is on its way to the moon.

BNB’s Journey to the Moon.

Source: CoinMarketCap; BNB

BNB has been on a steady rise since 2019 but, its bullishness gained immense momentum in 2021.

Digital coins are volatile by nature, but the Binance coin seems more volatile than most.

Cryptocurrency asset classes widely use BNB’s wild volatility; this is a significant reason why the coin has been on the top-ranks of Coinmarketcap for a more extended period. 

The coin’s high volatility level is due to several factors: Binance Coin plays a crucial role in almost every Binance based operation or transaction, including trading fees and providing discounts on the trading of other coins on the Binance exchange.

BNB had a very significant contribution to the overall rise in the value of Binance since its launch. 

Both prices of BNB and Binance have been sharing a close relationship from the start to date. The coin has been active in the market since August 2017, when it was listed for cryptocurrency trading on the Binance exchange. Binance coin played a crucial role in the rise of the value of Binance from just $10 million to $300 million, thus making it one of the fastest-growing exchanges in the cryptocurrency ecosystem.

BNB Coin in 2018

January to Feb

BNB saw an early rise against USD to $24.46 in the second week of January 2018. Even with the Digital coin falling to $7.34 only a few hours later, it ended January with an average rate of about $11.41, which is 24.5% higher than BNB’s December 2017 average value.

BNB hit another record low of $5.72 in February 2018 but made a slight recovery to an average of $10.46 in the month.

March to August

BNB had minimal success within these six months of 2018, hovering between a medial of $11.01.

September to December

BNB took a dip one can attribute to the bearish sentiments that took over the entire crypto market in late 2018, which affected almost every cryptocurrency at some point.
 Once Binance Coin dipped down to $3.63, its value began to spike up rapidly, rising over 10% within 24 hours.

 The coin dipped once again after this spike, but it did not reach its previous position of $4.00 once again for quite some time, instead settling somewhere around $3.80-4.00 before beginning to climb up once again for good in 2019

How did BNB perform in 2019?

2019 was an eventful year for the BNB. The Binance platform had a more than average rise in BNB use cases; over one million BNB holders increased 40% from the previous year.

Dec

37.33

31.49

38.62

27.02

82.43M

18.51%

Nov

31.5

28.42

34.71

26.27

80.46M

10.47%

Oct

28.51

29.27

31.98

26.37

82.14M

-2.58%

Sep

29.27

23.15

33

18.63

145.96M

26.49%

Aug

23.14

20.71

23.74

20.22

77.80M

11.94%

Jul

20.67

15.39

20.68

15.09

68.89M

34.12%

Jun

15.41

17.08

18.2

14.84

52.13M

-9.95%

May

17.12

16.95

18.17

14.02

84.21M

0.58%

Apr

17.02

12.57

18.12

11.98

117.76M

35.59%

Mar

12.55

19.23

21.75

6.4

136.75M

-34.82%

Feb

19.25

18.28

27.18

17.74

80.63M

5.61%

Jan

18.23

13.71

18.85

12.98

51.86M

32.92%

BNB 2021 Analysis

Source: CoinMarketCap; BNB

The chart above is set to a yearly frame.

2021 has been the craziest year for BNB. BNB has majorly experienced what can only be described as a collection of short-term bullish tendencies, which has resulted in almost immediate bearish corrections reverberations.

In January 2021

Source: TradingView; BNB

BNB was somewhat uneventful in January 2021, it began the year at about $30, and it failed to break $60 before January ended.

BNB in February 2021

Source: TradingView; BNB

BNB’s 2021 Bullish trend kicked off in February when its value skyrocketed from less than $50 at the beginning of the month to about $348 around February 18th (almost 400% increase).

BNB February’s surge might’ve resulted from the increasing activity of formerly dormant tokens on the Binance network, as Binance has been reporting lately.

The most likely result is what is probably on your mind all along. Perhaps the effect of Binance’s BNB Tokens burning is finally materializing.

Remember, at that time, Binance had just completed its 14th burning session (January 2021).

BNB in May-December 2021

Source: TradingView; BNB

As if February’s surge wasn’t news enough, BNB surged to an all-time high of $690.93 on May 10th, 2021.

From the Graph above (set to a monthly frame) there is a psychological resistance at around $570 and $684. Long-term BNB holders and loss-making investors are biding their time for the cost price close before selling their BNB and exiting. 

It is quite still possible to see a new BNB all-time high this year (2021), but the Resistance at $570 and $670 must gain must support for BNB value to appreciate.

Even now, it is not pessimistic to say 2021 will end with BNB worth about $700 to $800.

What is BNB?

BNB is the official native coin of the Binance network; it was launched initially as an ERC-20 token on the Ethereum network during Binance’s 2017 summer ICO. 

Later on, in 2019, Binance launched its own Tendermint Byzantine-Fault-Tolerant Binance blockchain.

For most digital coins, BNB tokenomics probably trumps most by 10 to` 1.

BNB Tokenomics Rundown

The BNB Token arguably has one of the best tokenomics in history.

BNB Tokenomics is carefully engineered to offer it maximum demand and increasingly diminishing supply.

Aside from this, BNB is probably one of the biggest cap coins out there, and this was achievable by Binance’s mega trading volume and cleverly designed BNB use cases. 

For a coin to have a high demand and limited supply, that is, to have a well-grounded economically stable and economically dynamic tokenomics, it must:

  • Be clear and have a finite supply
  • Have clear specific functions
  • Function needs to drive meaningful values to its holders

Let’s examine how the Binance token satisfies all these requirements.

BNB's Tokenomics During its launch (Summer 2017)

Requirement one; Clear and Finite Supply.

Total Supply: 200,000,000
Circulating Supply: 200,000,000

BNB Value:

Binance sold BNB coins at its first ICO (June 2017) at only $0.15 per BNB. 

One BNB is currently worth over $600.

This didn’t happen overnight.

 The Binance team comprises SZ, who was already a Fintech and Crypto expert before starting up Binance. And his team members. are equally skilled and experienced in both fields. 

What does this tell you?

They designed Binance and BNB with scalability, security, and a solid long-term economic sustainability in mind.

Functions of the BNB Token

BNB Derives its values from major use cases:

  • Pay for Binance fees (Exchange Fees, Withdraw, Listings, etc.)
  • Enables you to carry out transactions on the Binance network
  • Donate to Charity
  • BNB holders have special rights in the Binance Network.
  • Make purchases

How do these functions listed above derive meaningful Value for BNB holders?

1. Payment discount and enabling transactions (gas fee):

In September 2020, Binance launched its decentralized exchange (Binance Smart Chain), where BNB is used as a base asset and as gas spent for transactions carried out on the DEX platform.

In addition, when you pay for your fees on Binance with BNB, you will receive a specific discount rate:

Discount Rate:

 

First year

Second Year

Third Year

Fourth Year

Fifth Year

Discount Rate

50%

25%

12.5%

6.75% 

No discount

You can also save up to 75% of your trading fee by paying and staking in BNB (up to 11,000 BNB).

2. Binance IEO Launchpad; Binance helps you generate the initial capital from presales, then list your token on their website, i.e., exposes it to their audience.

In 2019, Binance implemented a lottery system to introduce randomness, prevent users from losing (fairness) the chances of getting their tokens onto the IEO.

To qualify for winning the lottery ticket, you have to stake at least 100 BNB tokens 20 days before the IEO bidding launch.

The only capital investors can contribute to the IEO is BNB.

The more BNB tokens you have, the more your chances of winning a lottery ticks (from 100 to over 500 BNB tokens win you from one to five BNB tickets.

3. You can donate BNB to Binance Charity Wallet; the BCF will disburse the funds in the charity wallet towards different charity projects.

BCF has raised a total of 90,347,592.9 USD from 782 donations.

4. You have special perks when you hold a minimum of 500 BNB in the Binance network.

You get the following when you hold at least 500 BNB:

Affiliate reward; holding at least 500BNB gets you at least double multipliers of your downlink’s 20% first deposit as a reward.

Lottery for IEO: Holding 500BNB gets you 5 Binance IEO lottery tickets.

Converting dust to BNB; Binance network’s protocol allows you to convert your dust into BNB.
When you hold 500BNB, you also have the maximum IEO vote count (when voting for the next project to be launched on Binance’s IEO).

5. Make Purchases

Some platforms like Crypto.com, Trip.io, BitTorrent, Canva, etc., accept BNB payments.

The points above are already numerous use cases that create immense demand for BNB, thereby appreciating its value.

Conclusion

The Binance coin has one of the strongest tokenomics out there. Suppose there is any coin designed never to fail, or a coin that can be argued to a considerable extent to be ‘ready for anything I probably wouldn’t have to think much before pointing out the BNB token. Aside from its impressive liquidity, use cases, and ingenious way of reducing its supply, the BNB Token is very likely to become a good contender of frontrunner cryptocurrencies like Bitcoin and Ethereum methods.