Latest Price of Binance Coin

Binance Coin Price Prediction: Performance Chart, June 5th, 2023

• Last 5 days:-1.95% underperformer*
• Last 1 Month: -7.27% Underperformer
• Last 6 Months: 1.62% Underperformer
• Last 1 year: 0.7% Underperformer

*vs Ethereum

BNB Latest News

• Binance OTC launches Spot Block Trading on web allows users to connect directly with our seasoned traders for help trading spot orders over $200k.
• Binance Australia has halted Australian dollar (AUD) deposits and withdrawals via bank transfer after its payment partner, Cuscal, cut off support. Binance Australia users can still buy and sell crypto using credit or debit cards while the exchange searches for an alternative provider for AUD services.
• Binance has completed its 23rd quarterly burn, destroying over two million BNB tokens, worth approximately $670 million. This makes it one of the largest burns in terms of USD value.
• Binance has introduced a Wallet Software Development Kit (SDK) for Web3 developers, allowing them to integrate third-party protocols with the Binance DeFi Wallet.

Binance Price Prediction for the Next 6 Hours

BNB Binance Price for the Next few Hours will be in the range of 259.8 and 263.9

Binance Price Prediction Today

Binance Price Prediction 2023 : Technical analysis, June 5th, 2023

• The MA5 (5-day moving average) is currently indicating a Sell signal. This means that the average price over the past 5 days is trending downwards, suggesting a potential bearish trend in the short term.
• The RSI (Relative Strength Index) with a period of 14 is currently at 54.284, which is in the Neutral zone. This suggests that the stock is neither overbought nor oversold and indicates a balanced market sentiment.
• The ATR (Average True Range) with a period of 14 is currently at 0.0003, suggesting less volatility. This means that the stock’s price range has been relatively narrow over the specified period.
• The STOCH (Stochastic Oscillator) with parameters (9,6) is currently at 70.000, which suggests a Buy signal. This indicates that the stock’s closing price is near the high end of the recent price range, potentially signaling a bullish trend.
• The STOCHRSI (Stochastic RSI) with a period of 14 is currently at 81.025, which indicates an Overbought condition. This means that the stock’s price has been increasing significantly and may be due for a potential pullback or correction.
• The MACD (Moving Average Convergence Divergence) with parameters (12,26) is currently at 0.000, indicating a Neutral stance. This suggests that there is currently no clear bullish or bearish momentum in the stock’s price.

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

BNB Price Prediction: 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 $533
• BNB Binance Price Prediction 2025 is $1006
• BNB Binance Price Prediction 2030 is $4658

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.