Press "Enter" to skip to content

Standard Chartered predicts Binance’s BNB to reach $2,775 by 2028

$BNB $BTC $ETH

#Binance #CryptoMarket #DigitalAssets #Blockchain #ethereum #bitcoin #cryptocurrency #DeFi #trading #investment #cryptoanalysis #marketpredictions

Standard Chartered has launched an analytical deep dive into Binance’s proprietary cryptocurrency, BNB, heralding a promising trajectory for the asset over the coming years. According to a research note by Geoffrey Kendrick, head of digital-asset research at the bank, BNB’s valuation could witness a significant hike, escalating from its current price of approximately $600 to reach $1,275 by 2025, and doubling again to $2,775 by 2028. This bullish forecast positions BNB for an over 360% increase from today’s figures, setting it up as a staple within the broader cryptocurrency market structure. Kendrick’s analysis draws a parallel between BNB’s performance and an unweighted combination of Bitcoin and Ethereum, projecting this trend to persist and fundamentally drive BNB’s value growth through to 2028.

Delving into the broader cryptocurrency outlook, Standard Chartered’s perspective remains overwhelmingly positive. With Bitcoin anticipated to climb to $200,000 by 2025, subsequently hitting $500,000 by 2028, and Ethereum expected to reach milestones of $4,000 and $7,500 respectively within the same timeline, Kendrick sheds light on the nuanced shifts in market share these movements might bring. These estimates entail a nuanced increase in the BTC-BNB ratio, suggesting Bitcoin’s value will grow at a faster rate than BNB’s, whereas the ETH-BNB ratio is predicted to decrease, hinting at Ethereum’s potential to subtly outpace BNB. Kendrick posits that despite the possibility of BNB lagging behind Bitcoin and Ethereum in direct comparison, its intrinsic qualities, such as deflationary mechanisms and integration with the world’s leading cryptocurrency exchange, cement its long-term valuation.

Further criticism is directed towards the BNB Chain’s infrastructure in the report, highlighting its highly centralized nature with only 45 validators, a stark contrast to Ethereum’s expansive validator network. This centralization, coupled with a noted stagnation in developer activity since the DeFi boom of 2021, places BNB Chain behind competitors such as Avalanche and Ethereum in terms of innovation and engagement within the blockchain community. However, upcoming technical advancements like the Pascal hard fork and the anticipated Maxwell upgrade signify potential turning points that could invigorate the ecosystem, enhancing its attractiveness to developers and users alike.

At the core of BNB’s value proposition lies its integration with Binance’s trading mechanisms, offering users fee discounts based on their BNB holdings and trading volumes. This intrinsic utility has contributed to maintaining BNB Chain’s relevance amidst rising competition from other networks like Solana. Additionally, BNB benefits from a constant cycle of token burns and a capped supply, creating a deflationary environment that supports its valuation premium. As BNB trades around $605, its current market standing and the strategic developments on the horizon paint a promising picture for its future, echoing Standard Chartered’s optimistic outlook for this digital asset.

More from CRYPTOMore posts in CRYPTO »

Comments are closed.

WP Twitter Auto Publish Powered By : XYZScripts.com