Binance Coin (BNB) Price Prediction: Will Launch of Binance Chain Result in a New All-Time High for BNB?

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Binance Coin (BNB) is the cryptocurrency of a decentralized blockchain platform the Binance. The name “Binance” is a combination of binary and finance. Binance Coin (BNB) has been a blessing for most of the investors because of the massive return on investment. Binance Coin has posted massive year-to-date gains that are unrivaled by any other major cryptocurrencies. The positive news regarding Binance’s platform has been a major reason for continued price surge in BNB. Lately, the announcement of Binance’s highly anticipated custom blockchain has proven to be highly positive for BNB.

Additionally, it is in many ways poses competition to Ethereum. According to experts, the latest blockchain, dubbed as Binance Chain, will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain. Furthermore, many businesses accept BNB as a form of payment.

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Binance CoinOn April 19, at UTC 07:24, according to coinmarketcap.com, Binance Coin (BNB) was trading at 21.61 USD. At the same time, it’s market capitalization was around 3,051,011,507 USD. In comparison to BTC, it was valued at 0.00411894 per chip. Moreover, Binance Coin’s last 24 hours trading volume was approximately 328,672,462 USD. With currently ranked at 7th place in cryptocurrency ranking, Binance Coin (BNB)’s Return on Investment (ROI) rate is more than 9000%. On March 25, it was trading at $ 16.84, however, today after 25-days, its value raised to 21.61 USD with a total hike of 28.32%.

Binance Coin (BNB) hit the top of the Bollinger Chart on Jan 12, 2018, and traded at an overwhelming price of 24.91 USD. Moreover, its recorded lowest trading price was 0.096109 on Aug 01, 2017. Yesterday, it opened at 19.59 USD and closed around 22.04 USD with an intraday gain of 2.45 USD (12.51%). However, Binance Coin (BNB) once was trading at 19.59 USD the previous day, hitting the highest intraday mark but soon stooped to 22.04 USD. The total trading volume of Binance Coin (BNB) for yesterday was of 376,729,341 USD.

Prediction:

As of now, Binance Coin (BNB) is approaching at a fast pace toward its all-time-highs of 24.91 USD which it hit at the time of crypto market’s parabolic surge during late-2017 and early-2018. Interestingly, Binance Coin (BNB) is the only major cryptocurrency to come this close to its all-time-highs, at the time when most of the cryptos are still trading down 80% or more from where they were in Early-January of 2018. Looking into the latest ventures of Binance and their efforts to expand the company in order to increase the utility of Binance Coin (BNB), it is highly likely that the cryptocurrency’s price will continue to surge. It is further speculated that Binance Coin BNB will soon set a fresh all-time high.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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