Binance Coin is the cryptocurrency of Binance Exchange which is one of the biggest crypto exchanges along with Coinbase, Gemini, and FTX. It is currently the 4th biggest crypto with a market capitalization of over 61 Billion Dollars. In this article, We will discuss its origin, how did it became so successful, and answer some frequently asked questions related to the Binance coin.
Binance Coin’s Origin
Binance Coin is the currency of Binance Smart Chain and Crypto Exchange. It was created to be used as a utility coin. You could use it for discounted trading fees and rewards on staking. It is traded as BNB on crypto exchanges and it is different from BUSD. Originally BNB was a token on the Ethereum blockchain but later shifted to the Binance Blockchain network after its creation in 2018.
The Binance Exchange was founded by Changpeng Zhao in 2017 who previously created a high-frequency trading software. The Binance coin was launched soon after with a limited supply of 200 Million coins. It meant that there will only be 200 Million Binance coins and not any more than that.
100 Million of the coins were sold off to the public in an Initial Coin Offering (ICO) in July 2017. The rest 40% or 80 Million were given to founders and 10% or 20 Million were given to angel investors. The money collected from the ICO was used to build the blockchain, and improve Binance Exchange.
What is Binance Coin (BNB)?
BNB was launched through an Initial Coin Offering (or ICO) that took place from June 26th to July 3rd, 2017 – 11 days before the Binance Exchange opened for trading. The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Although BNB was launched through an ICO, BNB does not provide users with a claim on Binance profits and does not represent an investment in Binance.
BNB was originally issued as an ERC-20 token, running on the Ethereum network, with a total supply of 200 million coins. 100 million BNBs were offered in the ICO, but the current total supply is lower due to periodic burning events, in which Binance destroys BNB held in its treasury.
Binance Coin (BNB) Price Analysis
BNB’s value fluctuates, as is evident in the Binance Coin price chart above. Several factors potentially impact the price of BNB, given the asset’s broad range of use cases along with the speculatory nature of the crypto industry. Among BNB’s list of uses is functioning as a vehicle for fee payments on-chain and as money via Binance’s payments card.
Binance also burns some of its profits in the form of Binance Coin each quarter, which is expected to carry on until the maximum BNB coin supply drops to 100 million, down from its initial count of 200 million. Binance also has an initiative called the BNB Pioneer Burn Program that helps certain Binance Coin holders who have unrecoverably lost BNB due to a mistake, under certain specific conditions. At times, Binance may send holders Binance Coin to replace what they lost and then deduct that amount of BNB from the next burn.
Binance Coin Price Prediction 2022
It appears that by 2022, Binance Coin (BNB) prices will have reached a level similar to their previous all-time high. By 2022, We may expect an average price of $643.72. If everything goes smoothly, we predicted the maximum price of Binance Coin could be up to $719.88 in 2022. Of course, there are chances that the market will dump after a long bull run and It is normal for the cryptocurrency market.
BNB Price Prediction 2023
The Binance Coin value will increase because of the efforts of the network developers and community investors. Therefore, the calculated price for the year 2023 is bullish. BNB was anticipated to touch a maximum price level of $1,103.88 by the end of 2023, according to analysts. On the other hand, it is highly optimistic that the Binance Coin’s future will ultimately grow. Therefore, the predicted average price of BNB will be around $918.67 to $944.42 is expected in 2023 depending on the market. As stated in the same slogan, the BNB’s maximum price ranges from $918.67 to $1,103.88 for 2023.
Binance Coin Price Prediction 2024
In 2024, with more adoption and partnerships between other important blockchain networks, the price of Binance Coin would skyrocket, the maximum trading price may reach $1,625.58 in 2024. The price ranges are going to be very trendy if we keep it that way. If everything goes well, we can expect an average price of $1,359.08 with a maximum price of $1,625.58 for 2024
Binance Coin Price Prediction 2025
Binance Coin’s present price range might interest many traders and because of this, BNB can reach $2,309.59 by 2025 with substantial cooperation with financial institutions if the following requirements are satisfied. With an average price of $1,955.62 for 2025, it can beat the latest price trend to reach new highs. The price tagline can vary as the crypto market can see another bullish trend on its way to 2025.
Binance Coin Price Prediction 2026
Volatility drives the cryptocurrency market. Today, it is not easy to forecast and keep up with the current pricing. Many crypto analysts come into play in this regard. The pricing forecasts are correct for the mentioned years. Crypto consumers are still concerned about crypto bans and new restrictions. Binance Coin price may cross $3,349.32 if the market sees a good bull run in 2026. Given that it is expected to be held by long-term investors, its average price for 2026 will be around $2,786.41.
Binance Coin Price Prediction 2027
BNB has huge potential, with certain collaborations and innovations that may increase the number of users and adoption. If the market concentrates on investing in Binance Coin, the price might rise much higher. By 2027, it can reach a maximum value of $4,723.95. It is expected that the BNB will turn around a little bit if the market goes down. The year 2027 can end with an average price of $4,291.21 with a minimum price of $4,179.76 and the maximum price of $4,723.95.
BNB Price Prediction 2028
BNB will be seen as a better option, and with the huge community, Binance Coin price will touch new highs. The price fluctuations are hard to predict, especially if the market is more bullish OR bearish than ever. For the year 2028, the price of Binance Coin will be almost $6,124.17. The maximum price that we can get is $7,279.70. Binance Coin’s average price forecast at the end of 2028 can be around $6,295.82. A huge price turnover is expected within the range defined by the crypto market.
BNB Price Prediction 2029
There are signs that the crypto market is about to enter a new age. Certain that the long-term price prediction for BNB’s price will soar since there is still optimism that the currency will attract much more attention. The year 2029 can end with an average price of $9,058.37 and a minimum price value of $8,743.58. The maximum price is expected to be trading around $10,625.12.
BNB Price Prediction 2030
For long-term Binance Coin price predictions, basic analysis is essential. In terms of industry benefits, the native token offers a few. The digital economy’s autonomy makes it ideal. As DAPPs and stable coins develop, the network offers competitive programmable payment, logistics, and storage options. There is a chance that the average price of BNB will rise to about $13,288.66 by 2030 if more investors are attracted to the idea. For 2030, the year can end with a maximum price of $15,571.82 with a minimum price level of $12,926.33.