BNB is a major crypto asset that has positioned itself in the top 10 in the past few years. As the Bitcoin halving 2024 recently commenced, experts believe that the post-halving rally could bear rich dividends for BNB, making it outperform all other crypto assets. The market prediction for BNB is that it will surpass its all-time high of $690 and could very well break the $1000 barrier, given it is a native currency for the largest exchange Binance.
BNB was initially launched in 2017 as an ERC-20 token on Ethereum by the leading cryptocurrency exchange Binance. Later, the exchange launched its own blockchain network – Binance Smart Chain (now known as BNBChain) – and BNB became its native currency for paying transaction fees and staking for validators.
Since its launch in 2017, the token has recorded a whopping gain of over 579,967% from its all-time low of $0.096 to the current market price of $557 – according to data from Coinmarketcap. In the previous cycle, it marked an all-time high of $690 in May 2021.
BNB has already outperformed several leading crypto assets like Ethereum in yearly gains while spiking over 85% since the past year. Much of the buying for BNB occurs due to its vast utility on the Binance exchange which is used by approximately 70% of the crypto traders worldwide.
Could BNB Price Hit $1,000?
Despite these flourishing gains throughout the past years, BNB is anticipated to break new highs in the upcoming cycle. The psychological price mark of $1,000 for BNB could probably be the next target for most traders and investors. If BNB’s price hits the target, it would be a gain of 80% from the current market price and 44% from its current all-time high. We have seen that altcoins pump more than 100% during the Altseason, so this target for BNB seems fair considering its current position as the third largest crypto asset. We might see it reaching even higher in the upcoming cycle as crypto adoption is growing rapidly across the retail sector.
Also read: 15 Crucial Signs of Crypto Bull Run
Binance is currently the most popular crypto exchange and being its ecosystem token, BNB has been watched by leading crypto analysts, traders, and investors. BNB is also used to pay transaction fees on BNBChain which could drive a massive boost to its market demand. The price of BNB could probably reach new highs in the second half of 2024 and early 2025, which is the period when the Altseason peak is expected.
Also Read: Could AVAX Soar to $150 After the Bitcoin Halving?
FAQs
Could BNB reach $1,000 post-halving?
BNB’s price is expected to break its previous all-time high of $690 and create new highs in the post-halving rally of 2024 and 2025.
What could push the BNB price higher?
BNB price could be pushed higher due to several factors such as increased activity on BNB Chain, potential Altseason spikes, and its use on Binance.
