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Binance Coin Price Prediction for 2022

Binance Coin Price Prediction for 2022
Written by publishing team

limited supply

The blockchain platform has a deflationary burn strategy to ensure a limited supply of coins. To be precise, he uses 20% of the profits to buy back and burn BNB. The goal is to burn 100 million Binance coins which will reduce the supply of them and, in turn, increase the demand for the coin.

BNB is currently trading at $435.44 with a total circulating supply of 166,801,148.00 BNB. As mentioned, it is the fourth largest cryptocurrency with a market capitalization of $72,652,853,334.

For a long time, the price of Binance coin has been hovering around $20. In fact, it dropped to $10 in March 2020 due to the Covid pandemic. But the price rebounded strongly in early 2021, jumping from $40 in January to $690 in May. The price dropped to about $215 in the same month. However, it recovered again, reaching $660 in November. Like most cryptocurrencies, it has lost some value and is now trading at $430.

2022 BNB . Price Forecast

So how will BNB perform for the rest of 2022? In this part, we will use CryptoPrediction’s BNB predictions. These forecasts are calculated using the historical data of Binance coin while using mathematical formulas that help determine the likely future direction of the cryptocurrency. Please note that at the time of your reading, forecasts may vary as the site updates them every 5 minutes reflecting in their calculations what is happening in the market.

Buy BNB with Binance

Q1 and Q2 price forecasts

CryptoPrediction expects the price of BNB to range between $411 and $614 in the first quarter of 2022. The average expected price is $488,331 in February and $491,818 in March.

According to the site’s forecast, BNB could open in the second quarter of trading at $421.114. The average expected price is $495,428 in April and $498,673 in May. In June, the average price will eventually reach the $500 mark to trade at $501,757. The site’s algorithm shows that BNB could reach $627.197 in June.

Q3 and Q4 price forecasts

The site expects the price of the Binance coin to range between $428,802 and $636.512 between July and September. The average price forecast for July is $504,473. The average price is expected to grow to $506,992 in August and $509.21.

The platform also expects BNB to trade between a minimum of $434,402 and a maximum of $511,061 in October. The price could rise to a high of $640.82 in November. In December, the average price is expected at $513,886, with a trading price between $436,803 and $642,357.

Fundamental Analysis

Binance states that BNB is an interest coin intended for use in its ecosystem. Users get up to 25% discount on transactions using BNB, which is an attractive feature for users. It is not designed to overthrow fiat currencies or decentralize the entire economy, as is the case with Bitcoin.

But BNB is not limited to paying fees on the Binance platform. The use case for BNB expanded after the launch of Binance Smart Chain for Dapps, Defi and smart contracts, driving the value even higher. In fact, the price started to rise in February due to BSC. At the same time, peak ether gas fees posed a problem for developers. BSC has proven to be an ideal alternative.

BSC is currently the second largest Defi platform with 44 projects. Although it has more projects than Bitcoin, it still lags behind Ethereum – which has more than 200 projects. If the Defi market, Binance exchange users, and Ether gas fees continue to rise, the price of BNB is likely to rise.

The growth of the platform is based on fees from the Binance crypto exchange. Remember that Binance is among the largest and most popular cryptocurrency trading platforms. It has made huge profits from the increased trading volume of the cryptocurrency boom. As the trading volume grows with increased adoption, some experts are of the opinion that Binance Coin could outperform Bitcoin. If the uptrend resumes, it could be one of the top gainers in 2022.

BNB is taking advantage of payments to expand. They offer a Binance Visa debit card that changes cryptocurrency into fiat currency. The card is linked to the card wallet in the Binance account. In addition, Binance pay, a highly secure and borderless payment feature, is being launched on the Binance app.

Binance is also actively expanding through acquisitions. For example, Indian cryptocurrency exchange Wazir X has bought Coin Market Cap – a very popular site for checking cryptocurrency prices and market capitalization.

Binance also committed $1 billion to BSC growth for several months after allocating $100 million to the development of Defi projects. The money will go to technical support such as hackathons, talent development, cash incentive programs to attract new users and incubation programs. The $100 seed funding has attracted more than 1 million new Defi users. With the new investment, it is set to boost global adoption and disrupt traditional finance. BSC is optimized with Proof-Of-Staked Authority (PoSA) security algorithms to avoid pulling the rug.

The burn period is an excellent time to buy because the supply will decrease and the price will increase. Binance is also making good profit from this operation. According to CoinTelegraph, Binance earned $750 million from burning $600 million with BNB.

Technical Analysis

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