It’s been an absolutely wild day in the world of crypto. For investors involved in any crypto exchange, this is even more true. The ongoing saga between FTX (FTT-USD) and Binance (BNB-USD) continues, with news that Binance will be buying out its competitor this morning creating shockwaves through the industry. For investors, this has created a flurry of interest around Binance price predictions, as well as predictions around where FTX’s FTT token could be headed.
For a while there, it looked like FTT could be headed for the graveyard. A plunge of nearly 70% intraday has been seen for FTT, spurred by initial selling pressure from Binance, which held a significant portion of outstanding FTT tokens related to previous financings. The reason for the selling, as InvestorPlace’s Brenden Rearick points out, relates to “a report revealing FTX sister company Alameda Research’s massive FTT holdings.”
In essence, Binance caused a run on FTX’s core token, which was supporting the liquidity of its underlying exchange. After this selloff, Binance appears to have signed a letter of intent to acquire FTX, clearly at more reasonable terms.
This should be a big win for shareholders in Binance and the BNB crypto. Let’s dive into just how much of a catalyst the experts seem to think it is.
Binance Price Predictions
For context, BNB crypto currently trades at $325.22 per token, at the time of writing.
- Walletinvestor provides a 1-year forecast of $237.72 per token for BNB.
- While that might seem like a bearish price prediction, Gov Capital goes a step further, with a 1-year price target of $16.62 for this token.
- Finally, Digitalcoinprice provides some bullish predictions, with a 2023 and 2027 price prediction of $537.17 and $1,032, respectively, for BNB.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.