BNB Price Prediction 2023-2030, BUSD Drags Down BNB

BNB Price Prediction 2023-2030, BUSD Drags Down BNB

Binance Coin (BNB) Current Price $306.47 (25,379.70 INR)

BNB Price Statistics

BNB Price Performance in Previous Months

• Binance Coin Price Performance in the Previous 1 Month Was +25.6%
• BNB Price Performance in the Previous 6 Months Was +2.4%
• BNB Price Performance in the Previous 12 Months Was -23.2%

What Is BNB?

Binance Coin (BNB) is known as an exchange-based token developed as well as issued by the prominent crypto exchange named Binance. It was first developed on the Ethereum blockchain in the form of an ERC-20 token back in 2017’s July. After that, BNB migrated to Binance Chain and became Binance Chain’s local token in 2019’s February.

The BNB token has witnessed huge growth in terms of interest during recent years. Many rounds of the token burn episodes have elevated the price of the token. Apart from that, the token has occupied a place between the well-known ten crypto tokens in terms of market capitalization. The BNB token can be traded via more than three hundred trading pairs throughout one hundred and twenty exchange platforms being tracked by CoinGecko.

Most recently, due to the regulatory action against BUSD (stablecoin of Binance that is issued by Paxos), BNB price has taken a huge plunge. SEC has declared BUSD as securities and ordered Binance to take it off the market. Moreover, SEC has ordered Paxos to stop minting BUSD. Binance is looking for an alternative at the moment. Meanwhile, BNB price is in reverse gear until Binance announces any solution.

Use Cases of BNB

BNB is known as the crypto asset operating on the blockchain platform of Binance. Since the BNB token’s launch, it has witnessed a great expansion in its use cases. At present, the token is utilized to carry out many tasks on diverse platforms. These use cases take into account trading, staking, DeFi, investments, and payments.

Trading

The BNB token can be utilized for trading on Binance in the form of a trading pair. It permits the consumers to trade the token in exchange for the rest of the crypto tokens also. The people holding Binance Coin can use it for recompensing trading charges on the exchange. This permits them to have a discount on the charges they pay. The discount rate lowers annually and it was 25% in the year 2022.

Staking

Customers are permitted to stake the BNB tokens held by them to receive more BNB tokens as profits. This can be done on Binance Smart Chain. It is a blockchain network focused on providing functionalities like Ethereum.

DeFi

The clients can lend the Binance Coin held by them to other consumers to earn interest on the lent assets. In this respect, the purpose of the BNB token is to play the role of loan collateral on certain platforms. The BNB token can additionally be utilized in the form of collateral on decentralized finance (DeFi) protocols. The holders can also use it to obtain interest via borrowing and lending platforms. Another option to use the token is that the consumers can deposit the assets possessed by them and get a stable interest rate in return.

Investments

The crypto exchange Binance has a platform named Binance Launchpad for the latest projects to collect funds by releasing their tokens. The platform just accepts the BNB tokens for participation. Investors can utilize the BNB tokens for investments in this respect. With the use of Binance Coin, investments can be made in particular ICOs listed via the Binance Launchpad.

Payments

Binance Coin can additionally be used for payments taking into account several BNB-compatible sites. These include BNB Monetha, Crypto.com, and other such platforms which accept BNB tokens for payments. Uplive is considered to be a forum that offers virtual gifts in return for Binance Coin to its consumers. Another payment-related use case of the BNB token is that it can be utilized for travel bookings.

In this case, Trip.io, TravelbyBit, and other sites accept the BNB tokens to offer to book. Some other online services take into account Storm, Canva, and BitTorrent. These online platforms also permit payments done through the BNB tokens. Along with this, some financial services are also compatible with the BNB tokens. Monaco’s VISA debit card is known as a prominent service that supports Binance Coin.

Can BNB Price Reach $10000?

There are possibilities for the BNB token to have a price level of $10000 however there is a requirement for some conditions to be fulfilled for that. One scenario takes into account the continuous sustenance of business by Binance for a long period. Nonetheless, the current scenario says that the scammers and the regulatory bodies are posing risks to the tokens and the blockchains.

In addition to this, crypto entities are also witnessing inherent business-related risks. Along with this, several financial stability-related issues have been highlighted by many Binance investors. Nonetheless, the BNB token is continuously sustaining as well as growing the market share thereof in DeFi, payments, and other sectors.

Keeping this in view, if Binance Coin witnesses a 25% annual price growth, the price of the token would require seventeen years to touch the $10000 spot. Nonetheless, such long-term predictions are very undependable.

BNB Price Prediction 2023-2030

Binance Coin Price Prediction for 2023 Stands at $581 (48,172.16 INR)

BNB Price Prediction for 2025 Stands at $1045 (86,643.56 INR)

BNB Price Prediction for 2030 Stands at $4754 (394,170.78 INR)

FAQs

What are the Derivatives of BNB?

The BNB token has trading pairs for both futures and perpetual swaps. Binance Futures, the derivatives exchange of Binance is prominent for trading pairs for perpetual swaps along with several other platforms. The well-known pair on this platform perpetual swaps is BNB/USDT.

Where Can I Purchase BNB?

The top crypto exchanges can be utilized to trade BNB tokens. Binance is a well-known platform in this respect. The top active trading pair of BNB on the crypto exchange is BNB/USDT with a 24-hour trading volume of $125,658,052. SignX and BTCEX are also other options for trading BNB tokens.

Does BNB Offer a Good Investment Opportunity?

In terms of the price movement as well as the growth in the market, BNB could be taken as an option for those who intend to invest in top crypto tokens other than Ethereum or Bitcoin. Nonetheless, It is advised that the decision should be made after carrying out due diligence as well as examining the market conditions.

What Are the Use Cases of BNB?

The BNB token can be utilized for purchasing services and goods and settling transfer charges on Binance Smart Chain. In addition to this, the token can also be used to take part in new token sales and so on.