BNB Price Prediction, will BNB’s price hit $506.26?
BNB’s price at the same time last week was $232.07. It has moved by 2.75 % in the past week and is currently at $231.05. Infact, in the past 24 hours, BNB has pumped by 1.91 %. There is a slight bullish sentiment in the crypto market. The long term sentiment, however, remains bullish and BNB could hit $506.26 in 2024.
The total circulating supply of BNB as of writing this article was $153,856,150 and the marketcap of BNB remains at $35,593,395,341
Disclaimer
For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin's price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project's whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. It should strictly not be taken as an investment advice. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.
About BNB
Binance Coin (BNB): An overview
Source: Binance.com
BNB is the native token of the Binance ecosystem that powers the BNB Chain ecosystem. It was initially issued as an ERC-20 token on the Ethereum (ETH) platform, but it was later transferred to the main BNB Chain. Within the Binance Exchange ecosystem, BNB is used as a utility token, allowing users to receive discounts when paying for their trading fees.
BNB Chain is the result of the merger of Binance Chain and Binance Smart Chain. With a mission to build the infrastructure powering the world's parallel virtual ecosystem, BNB Chain has committed itself to be open, multi-chain, permissionless, endlessly decentralized for creators and inventors, and bigger than and separate from Binance.
The evolution of BNB
Source: Binance.com
Formerly known as Binance Coin, BNB, which stands for "Build and Build," was created by Binance in 2017. Changpeng Zhao, aka CZ, is a Chinese-Canadian business executive. He is the co-founder and CEO of Binance, which is the world's largest cryptocurrency exchange by trading volume.
The altcoin was issued and launched during an Initial Coin Offering (ICO) crowdfunding event that happened between June 26 and July 3. 100,000,000 units of BNB, which is 50% of the total supply, were offered by the token sale.
Here's a look into BNB's timeline:
- In February 2019, Binance launched the DEX testnet for the new era of peer-to-peer cryptocurrency trading
- In April 2019, the Binance Chain mainnet was launched with pre-selected validators producing blocks
- In April 2019, the ERC-20 mainnet swap took place, with BNB swapped for BEP2 tokens
- In September 2020, the Binance Smart Chain (BSC) was launched
- In December 2021, the BNB Auto-Burn, a new protocol for the quarterly BNB burn, was introduced
- In February 2022, the BNB Chain was introduced
Other key developments
Source: Binance Academy
Binance has been so successful in its journey that it has become synonymous with crypto. Here's a look into some of Binance's important developments in the past few years:
- In April 2020, Binance acquired CoinMarketCap, one of the most visited crypto websites in the world
- In July 2020, Binance acquired Swipe, a leading multi-asset digital wallet and Visa debit card platform
- In September 2020, Binance launched Liquid Swap, a trading platform that hosts different pools of liquidity, allowing users to exchange crypto assets and earn from their pooled funds
- In December 2020, Binance launched the Combined Convert and OTC Trading Portal
- In December 2020, Binance entered into a new strategic partnership with Chiliz
- In May 2021, Metamask added built-in PancakeSwap's swap feature, enabling users to access BNB Chain tokens seamlessly
- In July 2021, Ethereum World News reported that BNB Chain was the most used blockchain in Q2
- In August 2021, Deri Protocol launched the first permissionless derivatives market on the BNB Chain
- In September 2021, PowerPool, the first BNB Chain DeFiIndex, went live on BNB Chain
- In October 2021, BNB Chain surpassed 100 million unique addresses
- In November 2021, BNB Chain Testnet underwent a hard fork to undergo an upgrade to Bruno release
- In November 2021, a revolutionary BNB Chain v1.1.5 upgrade called Bruno, with BEP95 real-time burn mechanism, was deployed on the BNB Chain mainnet
- In December 2021, Chainlink Keepers was launched on the BNB Chain mainnet
- In December 2021, Ankr implemented the Erigon client to BNB Chain mainnet
- In September 2022, BUSD reached a market cap milestone of $20 billion
- In October 2022, Binance secured a permanent license to offer digital asset services in Kazakhstan
- In November 2022, Binance partnered with Ledger to enable even smoother crypto purchases
- In December 2022, Binance Pay partnered with Pyypl to bring users a more secure online transaction experience
- In January 2023, the BNB Beacon Chain testnet underwent the Einstein upgrade, which incorporated two scheduled hard forks
- In April 2023, the BNB Greenfield launched its newest testnet named Congo
- In April 2023, the BNB Smart Chain mainnet had a hard fork named Planck
- In June 2023, the BNB Smart Chain testnet was upgraded. This significant transformation included three simultaneous hard forks named Hertz, London, and Berlin
- In June 2023, the BNB Smart Chain launched the opBNB testnet, a groundbreaking scalability solution
- By September 2023, the opBNB mainnet had been successfully launched and was fully operational
BNB Price Analysis
The weekly chart of BNB from October 2022 to October 2023 provided significant insights into the behavior of this cryptocurrency. The period witnessed an intense tussle between the bullish and bearish forces, with both striving relentlessly to exert their supremacy. By the end of our analysis, the coin was trading at $205.6.
BNB weekly chart
Initially, there was palpable resistance around the $349 mark. This was evident as the price faced rejection, and by December, it plummeted to a low of $234.9. This reflected a sentiment of strong selling pressure and possibly a collective decision by market participants to take profits or limit potential losses.
The start of 2023 painted a different picture. There was a marked increase in buyer interest and activity. It was manifested as the price started making higher highs and higher lows until April 2023.
This month was particularly noteworthy because the aforementioned peak resistance of $349 was challenged again. Yet, history repeated itself, and the price could not maintain this high. The subsequent decline was sharp and swift.
While there was an earnest attempt by the bulls to bolster the price at the support level of $305, their defense crumbled by June, pushing the price down to the previously established support at $234.9. The latter half of August was not favorable for the bulls either, as the price further receded to $205.2. Lastly, the recent resistance level emerged around the $220.1 mark.
Post the rejection at $220.1, the volume remained unimpressive, signaling a potential lack of buyer confidence. Even when the price made higher highs and lows from January to May, volume growth was not exponential. Instead, spikes in volume were particularly noticeable during the sharp price declines.
The interplay between price and the 20 and 50 Exponential Moving Averages (EMA) during this period offered more nuance. In the early stages, the price did briefly break past both the 20 and 50 EMA before the substantial dip in November.
However, it recuperated quickly in January, surpassing both EMAs again. Yet, the recovery was short-lived. From May onwards, as the price experienced a significant decline, it remained below both the 50 and 20 EMA, which was a bearish signal.
During the first resistance test, the Relative Strength Index (RSI) peaked at 56.59 before receding. Between January and May, it mostly stayed above the neutral 50 line, only to dip twice. Its zenith was in April at 59.39. However, the subsequent declines in price were mirrored by the RSI, which slid below the 50 mark and rested at 34.16 by the end of our analysis period.
Should you consider buying BNB?
Given the current technical landscape, there are strong indications pointing towards a sellers' market for this coin. The subdued volume, combined with the price's position below both the 20 and 50 EMAs and the current RSI below the neutral 50 line, all suggest caution.
With the current trading price hovering so close to the lowest support level, it’s likely that the coin could further dip in its value before finding a potential support level.
BNB Price Prediction
BNB has had an eventful 2021. To simplify the latest BNB price prediction, we have divided up the prediction by short term BNB price prediction and long term BNB price prediction. As of writing this article, BNB had a trading volume of 2,303,042,004. BNB has gone down by -1.59% in the past 30 days.
According to our analysis in the short term, BNB price prediction for February 2024 shows the average price of BNB at 432.78 and the highest possible price for February 2024 would be $463.08.
Further, according to our analysis in the long term, BNB price prediction for June 2024 shows the average price of BNB at 476.38 and the highest possible price for June 2024 would be $509.72.
BNB's Short Term Price Prediction
| Date | Avg Price | Lowest Price | Highest Price |
| 5 December 2023 | $245.83 | $228.62 | $263.04 |
| 6 December 2023 | $247.09 | $229.79 | $264.39 |
| 7 December 2023 | $249.55 | $232.08 | $267.02 |
| 8 December 2023 | $253.34 | $235.61 | $271.08 |
| 13 December 2023 | $277.95 | $258.49 | $297.41 |
| 18 December 2023 | $300.43 | $279.40 | $321.46 |
| 28 December 2023 | $339.87 | $316.08 | $363.66 |
BNB price prediction 5 December 2023: BNB's price for 5 December 2023 according to our analysis should range between $228.62 to $263.04 and the average price of BNB should be around $245.83.
BNB price prediction 6 December 2023: BNB's price for 6 December 2023 according to our analysis should range between $229.79 to $264.39 and the average price of BNB should be around $247.09.
BNB price prediction 7 December 2023: BNB's price for 7 December 2023 according to our analysis should range between $232.08 to $267.02 and the average price of BNB should be around $249.55.
BNB price prediction 8 December 2023: BNB's price for 8 December 2023 according to our analysis should range between $235.61 to $271.08 and the average price of BNB should be around $253.34.
BNB price prediction 13 December 2023: BNB's price for 13 December 2023 according to our analysis should range between $258.49 to $297.41 and the average price of BNB should be around $277.95.
BNB price prediction 18 December 2023: BNB's price for 18 December 2023 according to our analysis should range between $279.40 to $321.46 and the average price of BNB should be around $300.43.
BNB price prediction 28 December 2023: BNB's price for 28 December 2023 according to our analysis should range between $316.08 to $363.66 and the average price of BNB should be around $339.87.
BNB's Long Term Price Prediction
BNB’s long term Price Prediction below is a look at BNB’s future prospect with regards to price. BNB was last seen at $231.05, with a market cap of $35,593,395,341 and trading volumes of $2,303,042,004. BNB’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
| Years | Avg Price | Lowest Price | Highest Price |
| 2024 | $421.88 | $337.51 | $506.26 |
| 2025 | $552.67 | $442.13 | $663.20 |
| 2026 | $723.99 | $579.19 | $868.79 |
| 2027 | $948.43 | $758.74 | $1138.12 |
| 2028 | $1242.44 | $993.95 | $1490.93 |
| 2029 | $1627.60 | $1302.08 | $1953.12 |
| 2030 | $2132.16 | $1705.73 | $2558.59 |
| 2031 | $2793.12 | $2234.50 | $3351.75 |
| 2032 | $3658.99 | $2927.19 | $4390.79 |
| 2033 | $4793.28 | $3834.63 | $5751.94 |
BNB price prediction 2024: BNB's price for 2024 according to our analysis should range between $337.51 to $506.26 and the average price of BNB should be around $421.88.
BNB price prediction 2025: BNB's price for 2025 according to our analysis should range between $442.13 to $663.20 and the average price of BNB should be around $552.67.
BNB price prediction 2026: BNB's price for 2026 according to our analysis should range between $579.19 to $868.79 and the average price of BNB should be around $723.99.
BNB price prediction 2027: BNB's price for 2027 according to our analysis should range between $758.74 to $1138.12 and the average price of BNB should be around $948.43.
BNB price prediction 2028: BNB's price for 2028 according to our analysis should range between $993.95 to $1490.93 and the average price of BNB should be around $1242.44.
BNB price prediction 2029: BNB's price for 2029 according to our analysis should range between $1302.08 to $1953.12 and the average price of BNB should be around $1627.60.
BNB price prediction 2030: BNB's price for 2030 according to our analysis should range between $1705.73 to $2558.59 and the average price of BNB should be around $2132.16.
BNB price prediction 2031: BNB's price for 2031 according to our analysis should range between $2234.50 to $3351.75 and the average price of BNB should be around $2793.12.
BNB price prediction 2032: BNB's price for 2032 according to our analysis should range between $2927.19 to $4390.79 and the average price of BNB should be around $3658.99.
BNB price prediction 2033: BNB's price for 2033 according to our analysis should range between $3834.63 to $5751.94 and the average price of BNB should be around $4793.28.
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FAQs about BNB
BNB’s current price is $231.05 and witnessed a 1.91% increase in the past 24 hours. BNB/BTC pair saw a -2.20% decrease in the past 24 hours
Investing in BNB, BNB will purely depend on your personal risk appetite. As you can see over the past 24 hours BNB’s price has witnessed a 1.91% increase and over the past 30 days BNB has decrease by -1.59%. So it all depends on if this investment will hit your trading goals.
According to our latest BNB Price prediction for 2023, BNB should vary between $421.93 and $281.28. Please keep in mind that the crypto market is very volatile and this BNB price prediction does not account for extreme wild swings in price.
As per the BNB price prediction 2023 model above, BNB’s price for December 2023 should range between $281.28 to $421.93 with the average price for December being $351.61
According to the BNB Price Prediction model above, BNB’s price in 2024 would be $421.88. This price would however would range from $506.26 and $337.51.
According to the BNB Price Prediction model above, BNB’s price in 2025 would be $552.67. This price would however would range from $663.20 and $442.13.
According to the BNB Price Prediction model above, BNB’s price in 2026 would be $723.99. This price would however would range from $868.79 and $579.19.
According to the BNB Price Prediction model above, BNB’s price in 2027 would be $948.43. This price would however would range from $1138.12 and $758.74.
According to the BNB Price Prediction model above, BNB’s price in 2028 would be $1242.44. This price would however would range from $1490.93 and $993.95.
According to the BNB Price Prediction model above, BNB’s price in 2029 would be $1627.60. This price would however would range from $1953.12 and $1302.08.
According to the BNB Price Prediction model above, BNB’s price in 2030 would be $2132.16. This price would however would range from $2558.59 and $1705.73.
According to the BNB Price Prediction model above, BNB’s price in 2031 would be $2793.12. This price would however would range from $3351.75 and $2234.50.
According to the BNB Price Prediction model above, BNB’s price in 2032 would be $3658.99. This price would however would range from $4390.79 and $2927.19.
According to the BNB Price Prediction model above, BNB’s price in 2033 would be $4793.28. This price would however would range from $5751.94 and $3834.63.
The highest price for BNB was recorded in 10 May 2021 during which BNB hit an All Time High of $686.31
The price of 1 BNB according to current market rate is $231.05
