Will BNB Hit $1000 Post Bitcoin Halving 2024?

BNB is a leading crypto asset that has been ranked in the top 10 for the past few years. With the 2024 Bitcoin halving having recently begun, experts believe the post-halving rally could pay big dividends for BNB, causing it to outperform all other crypto assets. I believe. The market prediction for BNB is that, considering that BNB is the native currency of the largest exchange Binance, there is a good chance that it will surpass the all-time high of $690 and break the $1,000 barrier.

BNB was first launched in 2017 as an ERC-20 token on Ethereum by leading crypto exchange Binance. The exchange then launched its own blockchain network, Binance Smart Chain (now known as BNBChain), with BNB becoming the native currency for payment of transaction fees and staking for validators. I did.

Since its launch in 2017, the token has gained an incredible 579,967% from its all-time low of $0.096 to its current market price of $557. Data from Coinmarketcap. In the previous cycle, it hit an all-time high of $690 in May 2021.

BNB Price (Year-to-date) – Coinmarketcap

BNB has already surpassed some major crypto assets such as Ethereum in annual returns and has soared more than 85% since last year. Many BNB purchases are made due to BNB’s huge availability on the Binance exchange, which is used by around 70% of crypto traders worldwide.

Is it possible for BNB price to reach $1,000?

Despite these healthy gains over the past few years, BNB is expected to reach new highs in the next cycle. BNB’s psychological price mark of $1,000 could probably be the next target for most traders and investors. If BNB’s price reaches its target, it would represent an 80% increase from the current market price and a 44% increase from the current all-time high. This goal for BNB seems fair considering its current position as the third-largest crypto asset, as we have seen the altcoin rise over 100% during altseason. With the adoption of cryptocurrencies rapidly expanding across the retail industry, it is likely to rise further in the next cycle.

Also read: 15 Significant Signs of a Crypto Bull Run

Binance is currently the most popular cryptocurrency exchange, and its ecosystem token, BNB, is being watched by leading crypto analysts, traders, and investors. BNB will also be used to pay transaction fees on BNBChain, which could significantly increase market demand. BNB price could probably reach new highs in late 2024 to early 2025, when the peak alto season is expected.

Also read: Could AVAX rise to $150 after Bitcoin halving?

FAQ

BNB price is expected to break through its all-time high of $690 and set new highs during the post-halving rally in 2024 and 2025.

BNB price may rise due to several factors such as increased activity on the BNB chain, potential Altseason spikes, and usage on Binance.



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