According to Coin Price Forecast, Binance Coin will hit $ 2,184 by mid-2021 and end the year at $ 5,351, an increase of + 856%.
The current price of Binance Coin is $ 339.12, hitting an all-time high of $ 606 on April 21, 2021. With a market capitalization of USD 51,940,319,129, Binance Coin is the fourth largest cryptocurrency in the world.
The reason for the rise in Binance Coin is the Binance Smart Chain (BSC), a parallel chain for dApps and DeFi services. According to a report, high Ethereum transaction fees are often cited as the main reason BSC usage has increased so much. Another reason is the increased trading activity of Binance Coin. Also, high usage of the Binance Exchange would further increase the demand for BNB and increase their price.
Binance Coin has huge potential and is powered by the Binance Smart Chain. The price hike shows its potential since inception, and the possibility that DeFi will replace traditional funding will continue to benefit it.
All of the above factor does Binance coin as a great investment opportunity among other cryptocurrencies. “But there are also some concerns that need to be addressed. The biggest is that the DeFi market could actually gobble up the Binance Exchange. Binance is trying to maintain its central role in the digital asset markets as emerging DeFi projects like Uniswap, Curve, Balancer and SushiSwap attract a greater proportion of the industry’s trading volume, ”said CoinDesk’s Muyao Shen.
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