Can Binance reach $10000? Yes, Binance can reach $10000 under certain circumstances

Read Binance Price Prediction 2023, 2025 and 2030 in detail

Latest Price of Binance Coin

Binance Coin Price Prediction: Performance Chart

• Last 1 Month:+25.6% (Under Performer)*
• Last 6 Months: +2.4% (Outperformer)
• Last 1 Year: -23.2% (Outperformer)
• Last 5 years: +3614.0% (Outperformer)

*vs Ethereum

Latest Binance Coin News

• New Report by Messari. The BNB Chain DeFi total value locked has increased 25% this year and the number of unique addresses is at an all-time high, however, network revenue declined 10% in the quarter due to lower transaction fees. Despite this, Messari considers the fundamentals positive and expects Binance to continue its growth, including adding scaling solutions and boosting throughput.
• White paper for BNB Greenfield, A new decentralized data storage system: The system will use BNB tokens and allow users and decentralized applications to have complete control over their data. The system will support website hosting, publishing, data storage, and personal cloud applications. Community developer teams aim to launch the testnet within the next few months.
• Binance Burn: Binance announced the burning of over 16 million Binance Coin (BNB) ERC-20 tokens. The conversion from ERC-20 to BEP2 version of BNB is linked to the launch of Binance’s native blockchain. The burn did not count towards the quarterly token burn or impact BNB’s overall circulation.

Binance Price Prediction 2023: Is Binance Coin a Good Investment?

BNB is a Crypto asset that is operated on the Binance Blockchain. It was launched in 2017 by Changpeng Zhao.

The Binance network consists of the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and many research projects which utilize blockchain technology to bring new-age finance to the world.

• Binance blockchain empowers entrepreneurs and helps in developing several projects, and communities
  • Eg: Lifeform, Magicsquare, Tatsu, Meritcircle, etc.
• Binance Chain is used to develop Crypto wallets. One such development is Trust Wallet built on the Binance chain.

Binance uses the Tendermint BFT consensus mechanism. Tendermint is a consensus engine for blockchains and Binance uses it to facilitate transactions, validation, and authentication processes in its platform. It does not support smart contracts.

Binance Token

Since its launch, BNB has expanded its use it is now used to perform several tasks on different platforms.

• Trading: Binance Coin can be used as a trading pair on the Binance exchange, allowing users to trade it for other cryptocurrencies.
  • Discounts on trading fees: Holding Binance Coin and using it to pay for trading fees on the Binance exchange provides users with a discount on their fees. The discount rate decreases every year and is currently at 25% in 2022.
• Payments: BNB tokens can be used for payments that include credit card payments on multiple sites or BNB-supporting sites.
  • Sites like crypto.com, Monetha, etc. accept BNB tokens as a medium of payment.
  • Uplive is one such platform that sells virtual gifts for BNB tokens to its user base.
  • BNB tokens can also be used to make travel bookings. Sites such as TravelbyBit, Trip.io, etc. accept BNB tokens for making a booking on their website.
  • Some of the online services offering platforms like BitTorrent, Canva, Storm, etc. accepts BNB token as a mode of payment.
  • BNB tokens can also be used for Financial Services. Binance coin is supported by a VISA debit card of Monaco.
• Investments: Binance Launchpad is a platform for new projects to raise funds by issuing their own tokens and it only accepts Binance Coins for participation.
  • Binance coins can also be used to make investments. Using BNB tokens one can invest in certain ICOs listed through the Binance launchpad.
• DeFi: Users can lend their Binance Coin to other users and earn interest on their assets.
  • BNB is used as collateral for loans on specific platforms.
  • Binance Coin can be used as collateral in decentralized finance protocols, or to earn interest through lending and borrowing platforms.
  • Binance savings is an option for users to deposit their assets and earn a fixed interest rate.
• Staking: Users can stake their Binance Coin and earn a return in the form of an additional Binance Coin. This is possible with Binance’s Smart Chain, a network of blockchains built to offer similar functionalities as Ethereum.

Binance Performance Metrics

• DeFi TVL: $4.96 B, Ranked 3rd
• NFT Transactions, Last 30 Days, $6 M, Ranked 7th
• Games, 9 out of the Top 25, Ranked 2nd
• Payments, Limited Presence

Binance Investment Case

• Since its launch in 2017, Binance Coin has risen 14100% over the last 5 years
• It is one of the few tokens that lost less than half of its value in 2022. Most tokens lost more than half of their value
• Binance has an active and ongoing Burn program (Auto Burn)

Overall, Binance appears to be a Good Investment Case

Can BNB reach $10000?

Binance can reach $10000 under the following circumstances

1. The Binance Exchange will have to sustain its business for a long time to come. This is not straightforward. One, Blockchains and Tokens, in general, are constantly at risk from regulators and scammers as well as from the utility of the sector in general. Two, there are inherent business risks for any company. Three, Binance has been under the glare of many (if not most) investors for not being financially stable. Four, Binance Token sustains and grows its market share across categories – Payments, DeFi
2. Should the above fall in place and assume a conservative growth figure of 25% per annum, it would take 17 years for BNB to reach $10000. Such long-term forecasts are quite unreliable.

Binance Price Prediction 2023, 2025, 2030

• BNB Binance Price Prediction 2023 is $581
• BNB Binance Price Prediction 2025 is $1045
• BNB Binance Price Prediction 2030 is $4754

Binance Price Prediction Today

Read about Dogecoin Price Prediction here

BNB Price Prediction 2023: How can you buy BNB?

Follow these simple if you wish to buy BNB:

• Select a Crypto exchange that supports BNB.
• Create an account with the Exchange.
• Verify your identity.
• Fund the wallet.
• Make the purchase.

Where can you purchase BNB?

• Binance
• Bybit
• FTX 
• eToro
• Crypto.com
• CoinTiger 
• Bitget.

Read: XRP Price Prediction and Forecast

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.