Cryptocurrency exchange Binance (CCC:BNB-USD) is benefitting from today’s Coinbase (NASDAQ:COIN) IPO (initial public offering). BNB-USD, the native token for the world’s biggest cryptocurrency exchange, notched new all-time highs on Monday before pulling back slightly.
Anticipation for the COIN IPO has driven cryptocurrencies to record highs this week. Binance announced tokenized stock options on Monday by offering a Tesla (NASDAQ:TSLA) token; today’s offering of tokenized COIN should drive similarly large volumes of trading on the Binance platform.
BNB-USD is now the third-largest cryptocurrency in the world, behind Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD). Binance saw its popularity surge in the first quarter of the year due to the high GAS fees associated with Ethereum. In fact, Binance Smart Chain is now the “most used blockchain in terms of unique active wallets.”
Binance (BNB) Price Predictions
With Binance presently trading just under $2,300, what will BNB-USD do next? Here are some Binance (BNB) price predictions:
- On Monday, FXStreet said Binance was positioned to continue the rally to $942 or even $1,128. A corrective consolidation is possible, which would take the stock to $502 and potentially $430.
- Coinpedia has a conservative Binance (BNB) price prediction, saying the token could trade at $500 at the end of 2021, $800 by the end of 2022 and $1,000 by the end of 2025.
- Wallet Investor has a one-year forecast of $684 and a five-year forecast of $1,326 for Binance.
- Trading Beasts predicts Binance will end the year around $457.
- Digital Coin Price has an Binance (BNB) price prediction of $878 by the end of 2021 and $1,744 by the end of 2025.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.