Will BNB Go Up? Detailed Analysis

Will BNB Go Up? Detailed Analysis

Will BNB Go Up: Yes BNB will go up. The BNB Price Prediction 2022 is $5.06 provided, BNB gains 50% a month from now. Additionally, BNB Price Prediction 2022 is $1.21 provided BNB gains only 5% a month from now.

Will BNB Go Up: Some Facts

  • BNB is the native token of Binance Exchange. BNB stands for Build and Build.
  • Initially, BNB was launched on the Ethereum blockchain as an ERC-20 token but it gradually transitioned to Binance’s own blockchain, Binance Chain.
  • BNB was launched in the year 2017 with an initial supply of 200 million BNB tokens.
  • Of the 200 million BNB tokens, 10% were offered to angel investors, 40% to the founding team, and the remaining 50% to the various participants through the ICO process.
  • Binance follows one of the unique methods to put a certain number of BNB tokens out of circulation. Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy the Binance coins.

Will BNB Go Up: Usage of BNB token

Since its launch, BNB has expanded its use and now it is used to perform several tasks on different platforms. Initially, it was used to pay transaction and trading fees on the Binance exchange. Here are a few usages of BNB token:

  • BNB tokens can be used for payments which 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.
  • BNB tokens can also be used for buying virtual gifts. 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.
  • Binance coins can also be used to make investments. Using BNB tokens one can invest in certain ICOs listed through the Binance launchpad.
  • 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 VISA debit card of Monaco.

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Will BNB Go Up: Binance Ecosystem

The Binance ecosystem is expanding and with its expansion, the utility of the BNB token has also increased. Here are some of the services powered by BNB:

  • One of the biggest utilities fielded by the BNB token is delivering a fast, secure and seamless trading experience. Binance exchange serves this purpose.
  • Binance blockchain empowers entrepreneurs and helps in developing several projects, and communities. Some of the developments in this field are Lifeform, Magicsquare, Tatsu, Meritcircle, etc.
  • Binance provides an in-depth digital asset research by providing professional, data-driven insights and analysis. Eg. Binance's crypto information website, Binance academy that offers Blockchain courses, etc.
  • With the Binance Charity, BNB tokens can be used to offer charity.
  • Binance Chain is used to develop Crypto wallets. One such development is Trust Wallet built on Binance chain.

Will BNB Go Up: How High can BNB Go?

BNB's all-time high price was $690.93 which it hit in March 2020. However, BNB has the potential of rising very high due to its limited supply. Here is how high can BNB go in the future:

If BNB were to rise 5% a month, 2022 Prediction$1.21
If BNB were to rise 20% a month, 2022 Prediction$2.07
If BNB were to rise 30% a month, 2022 Prediction$2.87
If BNB were to rise 50% a month, 2022 Prediction$5.06

Will BNB GO up: Video Analysis

YouTube video

Will BNB GO Up: Conclusion

Binance token or the BNB token has the potential of rising higher. One of the greatest advantages of BNB is that it is supported by the Binance exchange. However, the current market condition is not favoring the rise of the BNB token. Once the market condition improves, BNB may rise to higher limits.

Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.