Investors are rushing to find the next cryptocurrency to blow up after the breakout quarter for altcoins. Bitcoin (CCC:BTC) is treading water at the $60,000 mark, while smaller plays are getting lots of love. While Wall Street speculates on the next coin to see meteoric gains, one pick is rising to the top. Binance Coin (CCC:BNB) is ascending today, and its newest unveiling is exciting the whole crypto world, and probably Elon Musk. The result is a wave of Binance Coin (BNB) price predictions.
This morning, Binance announced its newest coin option. The new coin is that of a tradable stock token. While Binance is planning on making a multitude of these tradable stock tokens, the first the company is offering users is a tradable Tesla (NASDAQ:TSLA) token.
Each coin will be worth one Tesla common stock share. Users will have the option to purchase fractional tokens, and can invest in as little as one-hundredth of a coin. The coins are backed by a depository portfolio of the underlying Tesla stock that represents the coins. Transactions of the coin will use Binance’s flagship token, BNB.
Because the Tesla coin is released by Binance and transactions will be tied to BNB, the company is seeing the BNB coin appreciate greatly with the news. Binance Coin is up over 23% in the last 24 hours, and is trading for about $578 per share.
Importantly, many see this announcement as a strong bridge between the crypto world and the traditional stock market. As such, interest in Binance Coin (BNB) price predictions has risen.
Binance Coin (BNB) Price Predictions
Let’s take a look at some of these BNB price predictions:
- Digitalcoin is predicting that by December, BNB will have a value of $830.
- WalletInvestor sees the coin reaching $684 in a year.
- CryptoNewsZ is pricing BNB at $800 by year’s end.
- LongForecast is incredibly bullish on BNB, predicting a multithousand-dollar valuation in December. The crypto analysis platform is calling for a price of over $2,300 by the end of 2021.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.