2019-11-16 14:08 |
Binance exchange took the market by storm. So did its native digital asset called Binance coin or BNB. In this article, we will cover our own and market’s opinion on BNB future while discussing BNB price forecast for 2019 and beyond.
Since 2019 is almost up, BNB price prediction 2020 is much more interesting so we covered that forecast as well, just scroll down.
Now, let’s begin.
Binance Coin IntroBefore we delve deep into the Binance coin price prediction, let’s quickly throw a glance at what is BNB and its to date history.
Binance exchange was launched much later than it competitors but the team behind charismatic CEO CZ, swept the market and its competitors and won the hears to millions of traders, making it one of the largest and most trusted crypto exchanges today.
The exchange’s revenue model is primarily driven by trading fees with the maximum fee being 0.1% per trade. A variety of discounts are available to the standard 0.1% fee from periodic promotions, volume based discounts, and most notably use of the Binance token (BNB) to pay fees.
Currently, users that pay trading fees with BNB receive a 25% discount, with that number halving each year until it is phased out in 2021. To complement fixed fee trading Binance has been exploring maker-taker trading as another potential option for order execution.
Binance pre-mined a total of 200 million BNB tokens prior to its public launch on July 14, 2017 and they intend to buyback and burn 50% (100 million BNB) of the pre-mine token supply over time resulting in a long-term fixed supply of 100 million tokens once the buyback is complete. Buybacks are scheduled to take place quarterly funded by 20% of Binance’s profits.
Increasing cryptocurrency adoption is one of Binance’s key goals and in 2018, they added no less than 50 partners who have adopted BNB into their ecosystems. The Binance Coin now has some of the most versatile use cases, including paying for flights, hotels, or just coffee. You can even use it as collateral for loans.
BNB Roadmap for 2019Binance Chain mainnet is planned to go live, with Binance DEX as the main service that will run on top of it. The BNB blockchain will be governed by dPoS consensus of 11 nodes that will reach “decentralization” through pBFT, similarly to NEO blockchain.
A DPoS-based blockchain counts with a voting system where stakeholders outsource their work to a third-party. In other words, they are able to vote for a few delegates that will secure the network on their behalf. The delegates may also be referred to as witnesses and they are responsible for achieving consensus during the generation and validation of new blocks.
The Binance Coin (BNB) will be swapping from the Ethereum blockchain and move to its main net after the DEX launches during the first part of 2019. The Binance Coin was launched in 2017 raising $15 million and it is currently based on the ERC-20 standard.
Binance Coin (BNB) will play an integral role on the new blockchain and decentralized exchange. This token can be used to pay for exchange fees, and doing so will allow investors to receive a discount on the cost of their trade.
Bitcoin is the focal point of the crypto market in many ways, and with BTC trading pairs on every exchange, the gravity of Bitcoin is hard to evade.
The majority of projects will fail — some startups are created just to gather funds and disappear, some would not handle the competition, but most are just ideas that look good on paper, but in reality, are useless for the market.
Vitalik Buterin, co-founder of Ethereum said:
“There are some good ideas, there are a lot of very bad ideas, and there are a lot of very, very bad ideas, and quite a few scams as well”
As a result, over 95% of successful ICOs and cryptocurrency projects will fail and their investors will lose money. The other 5% of projects will become the new Apple, Google or Alibaba in the cryptoindustry. Will BNB be among those 5%?
Considering their parent company is Binance exchange’s rapid expansion and growth, BNB token is almost a safe bet when it comes to surviving.
The token itself is borderline security and this regulation incertitude could be the biggest threat for the otherwise bright future of BNB token.
Considering the well thought and designed token economy with ever decreasing total supply, BNB has a lot of room for price growth. It is one of the rare coins that is actually recording new highs despite the prolonged bear market in cryptocurrency world.
Binance states that they are going to use BNB for other projects that could generate value. You could use it to participate in new ICOs on Binance Launchpad.
No new BNBs are going to be issued (or at least, not for now). There is no verifiable information on who bought BNBs in the ICO or who currently holds it, but if Binance continues growing at the current rate, people always have the economic incentive to buy BNB to save in fees in the first years.
As the number of Binance users grows, so will the number of BNB token holders – which would lead to increased demand and subsequently to price rise. Binance already reports to have around 2.5 million users per month which is a solid base for their token stability.
Barring any huge incidents like hacks or regulation clamp down on Binance exchange, BNB token is one of the rare coins that looks like a good investment right now, even though it already recorded a huge jump in prices this year. Considering that the hype of Binance mainnet and DEX launch is still in its initial phase and BNB token playing a central role in the whole story, BNB token definitely has a lot of room to go up, perhaps even entering top 4 coins, right behind the untouchables: BTC, ETH and XRP.
It appears that BNB can’t decouple itself from the rest of the market and it is stuck in its current price range which is most likely to be the price we will see for BNB while entering in the new year. So $25-$30 per token is the most likely price for BNB.
Market prediction for Binance Coin BNB Price 2019With the market being completely unpredictable, forecasting the cryptocurrency price is really more of a gamble and luck rather than a data driven guesstimate.
Let’s throw a glance at the eminent publications and personalities, and their predictions regarding the BNB price, which will give us another point of view to consider:
Wallet InvestorWalletinvestor is a popular website that does technical analysis-based price predictions of various cryptocurrencies. According to them, BNB is expected to go only modestly up to $16.18 in one year.
Trading Beasts BNB Price PredictionTradingBeasts algorithm is traditionally much more optimistic in its forecasts but not when it comes to Binance coin – it sees BNB dropping to $8.53 by December 2019 which means it will do an almost 2x drop from its current price.
CryptogroundCryptoground predicts that BNB might fall to $6.10 by the end of 2019. They even added their version of BNB price prediction 2024, where they stated that BNB might reach $28 by 2024.
DigitalCoinPriceDigitalcoinprice gave a slightly positive prediction saying that by 2019 end, BNB might be just a shred more valuable than now – $26.23 per coin.
BNB Future: 2020, 2023, 2025BNB Price Prediction 2020BNB Price Prediction 2020BNB destiny is completely dependent on the success of the Binance exchange. Considering Binance is still looking strong, adding more and more services – BNB token’s future looks bright which could lead to prices at least double than the current ones. So BNB token in 2020 might hover around $30 per token.BNB Price Prediction 2023BNB Price Prediction 2023If BNB survives to see 2023, that would mean Binance is still strong, crypto user numbers are increasing which would all lead to the token being worth at least 10-100x than its hitherto all time high. That would mean BNB would cost $150+ per coin.BNB Price Prediction 2025BNB Price Prediction 2023Similar to 2023, if BNB actually survives to see 2025,that would mean Binance is still strong, crypto user numbers are increasing which would all lead to the token being worth at least 10-100x than its hitherto all time high. That would mean BNB would cost $150+ per coin.Realistic BNB Price PredictionRealistic BNB Price Prediction Predicting prices of novel, highly volatile and risky asset classes is a thankless task – best answer is no one knows. Educated guess is that realistic BNB price for the foreseeable future is somewhere around its current price of $15 per token.The post Binance Coin (BNB) Price Prediction 2019 & 2020 – Future Forecast For BNB Price appeared first on CaptainAltcoin.
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