What Is Binance Coin (BNB)?
Launched in July 2017, Binance is the biggest cryptocurrency exchange globally based on daily trading volume. Binance aims to bring cryptocurrency exchanges to the forefront of financial activity globally. The idea behind Binance’s name is to show this new paradigm in global finance – Binary Finance, or Binance.
Aside from being the largest cryptocurrency exchange globally, Binance has launched a whole ecosystem of functionalities for its users. The Binance network includes the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet and Research projects, which all employ the powers of blockchain technology to bring new-age finance to the world. Binance Coin is an integral part of the successful functioning of many of the Binance sub-projects.
Who Are the Founders of Binance Coin?
Changpeng Zhao is the founder and CEO of Binance. In 2001, Zhao joined Bloomberg as head of tradebook futures development. He spent four years with the company and later joined Fusion Systems as a partner.
Since 2013, Changpeng Zhao has been actively involved with blockchain technology and cryptocurrencies. He became head of development at Blockchain, and in 2015 he founded BijieTech. In 2017, Zhao officially launched Binance, and he has been the CEO of the company ever since.
He Yi is a co-founder and chief marketing officer at Binance. She started her career as a TV anchor and presenter on China Travel TV in 2012. Later, in 2014, Yi co-founded OKCoin, which was the largest fiat-to-crypto exchange in China at the time. In 2017, she joined forces with Changpeng Zhao, and together they created the largest crypto exchange globally – Binance.
What Makes Binance Coin Unique?
Binance is a unique ecosystem of decentralized, blockchain-based networks. The company has grown to be the leading crypto exchange in a number of countries, and their side organizations are attracting significant interest as well.
One of the biggest competitive advantages Binance has is its drive for development. While the company started only as a crypto exchange back in 2017, today, Binance has spread its services among numerous different spheres. According to the company website, its mission is to become the infrastructure services provider for the entire blockchain ecosystem.
Since launching the Binance Coin, the exchange has also benefited from increased investor interest in the token. BNB went through a significant price increase at the beginning of 2021, which has put it on the map of enterprise investors.
Binance Coin Price Prediction
Binance Coin Past Price Analysis
According to the latest data gathered, the current price of Binance Coin is $562.08 and BNB is currently ranked # in the entire crypto ecosystem. The circulation supply of Binance Coin is 166,801,148 with a marketcap of $93,755,688,824.
In the past 24 hours, the crypto has been decreased by -6.55% in its current value. If we compare the current market cap of the BNB with yesterday’s, you can see that the market cap is also down.
Binance Coin is facing a hard time getting on board with other crypto coins. The BNB is down to almost -8.03% in the last 7 days. The coin is still showing risking framing segments for past few days, the coin might have strong fundamentals but, we don’t think that it would a profitable asset in short term.
However, after the comparing the current price with past 30 days price history, it is observed that Binance Coin has increased 13.802% in its value. The average minimum price for the month is $460.18 while maximum average price was $484.50. this implies that this coin is a suitable asset and a new addition to your portfolio of coins for long term.
The 90 days price change is around 28.53% and the price circulated from a minimum average price of $398.55 to maximum average price of $435.78 in the past 90 days.
In Last 4 months Binance Coin has shown a growing trend. Thus, we think that similar parts of the market were quite popular at that period. According to the latest data collected, the trading volume of Binance Coin is increased from 4 months. The trading volume constitutes a vital role in its price.
The coin is up by 44.18% with the maximum average price of the coin was around $309.22 and the minimum average price of was around $299.27 in past 4 months.
Binance Coin (BNB) Price Prediction/Forecast
At PricePrediction.Net we predict future Binance Coin price predictions/BNB forecast by applying deep artificial intelligence-assisted technical Analysis on the past price data of Binance Coin. We do our best to collect maximum historical data for the BNB coin which include multiple parameters like past price, Binance Coin marketcap, Binance Coin volume and few more. If you are looking to invest in digital cryptocurrencies and want good return on your investments, make sure to read our predictions.
Binance Coin Price Prediction 2021
According to our deep technical analysis on past price data of BNB, In 2021 the price of Binance Coin is predicted to reach at a minimum level of $588.82. The BNB price can reach a maximum level of $662.43 with the average trading price of $644.03.
Binance Coin Price Prediction 2022
The price of Binance Coin is predicted to reach at a minimum level of $883.12 in 2022. The Binance Coin price can reach a maximum level of $1,110.39 with the average price of $908.89 throughout 2022.
BNB Price Forecast for 2023-2024
As per the forecast price and technical analysis, In 2023 the price of Binance Coin is predicted to reach at a minimum level of $1,200.35. The BNB price can reach a maximum level of $1,501.68 with the average trading price of $1,245.79.
The price of 1 Binance Coin is expected to reach at a minimum level of $1,661.87 in 2024. The BNB price can reach a maximum level of $2,076.16 with the average price of $1,724.16 throughout 2024.
Binance Coin Price Prediction 2025
Binance Coin price is forecast to reach a lowest possible level of $2,485.65 in 2025. As per our findings, the BNB price could reach a maximum possible level of $2,883.83 with the average forecast price of $2,554.62.
Binance Coin Price Prediction 2026
According to our deep technical analysis on past price data of BNB, In 2026 the price of Binance Coin is forecasted to be at around a minimum value of $3,609.42. The Binance Coin price value can reach a maximum of $4,256.49 with the average trading value of $3,711.60 in USD.
Binance Coin (BNB) Price Prediction 2027
The price of Binance Coin is predicted to reach at a minimum value of $5,642.55 in 2027. The Binance Coin price could reach a maximum value of $6,429.13 with the average trading price of $5,828.13 throughout 2027.
Binance Coin Price Prediction/Forecast 2028
As per the forecast and technical analysis, In 2028 the price of Binance Coin is expected to reach at a minimum price value of $8,153.13. The BNB price can reach a maximum price value of $9,812.73 with the average value of $8,386.25.
Binance Coin (BNB) Price Prediction 2029
The price of Binance Coin is predicted to reach at a minimum value of $11,767.35 in 2029. The Binance Coin price could reach a maximum value of $14,188.21 with the average trading price of $12,186.67 throughout 2029.
Binance Coin Price Prediction 2030
Binance Coin price is forecast to reach a lowest possible level of $17,569.09 in 2030. As per our findings, the BNB price could reach a maximum possible level of $20,585.16 with the average forecast price of $18,056.56.
How Many Binance Coin (BNB) Coins Are There in Circulation?
There is an initial maximum supply of 200,000,000 BNB coins, of which 168,137,036 are currently in circulation as of September 2021.
Binance conducts quarterly burning of the Binance Coin supply, with the goal of reducing the total supply by half — or 100,000,000 BNB. On July 18, 2021, it conducted its 16th quarterly burning, which was worth $390 million in Binance Coin price at the time of burning. However, that was not the most expensive burn — on April 16, 2021, the exchange burned nearly $600 million worth, in Binance Coin price at the time of burning.
According to the Binance whitepaper, exactly half of the maximum supply of BNB tokens was allocated towards the initial coin offering (ICO) and public sale of the token. The ICO was held in July 2017 shortly after the exchange launched, and saw Binance raise $15 million in funding, with Binance Coin price at $0.10 during the ICO. Taking Binance Coin price today, that represents an almost 4200X return on investment (ROI). Another 40% of the total supply, or around 80,000,000 BNB coins, was distributed among the founding members and team. Finally, the remaining 10% of the maximum supply was split among angel investors.
How Is the Binance Coin Network Secured?
Initially, the Binance coin started as a traditional ERC-20 token on the Ethereum blockchain. Later on, the company introduced its own blockchain, and the coins started being issued from the Binance blockchain, secured by the Tendermint byzantine-fault-tolerant (BFT) consensus mechanism.
While ERC-20 tokens rely on the proof-of-stake (PoS) consensus, which allows them to be extremely scalable, and allows for the creation of smart contracts. Unlike PoS, the Binance blockchain does not support smart contract functionalities. In contrast, the Bitcoin blockchain is secured by the proof-of-work (PoW) consensus, which is far more limited and consumes large amounts of electrical and computing power.
Where Can You Buy Binance Coin (BNB)?
As the dedicated utility token of the Binance exchange, the most straightforward way to acquire BNB coins would be to purchase them through Binance. The original exchange supports the largest variety of trading pairs with BNB, and it also has the best trading rates for the coin. Since the launch of Play2Earn games, interest in the BNB to PHP price has increased substantially.
If you are looking for alternative exchanges where you can purchase BNB, FTX is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like investing in any other type of asset.