Standard Chartered forecasts BNB token could rise 360% by 2028, reaching $2,775. BNB tracks closely with Bitcoin and Ethereum despite limited utility. It ranks fifth in market cap and remains popular among traders. The bank also predicts Bitcoin could hit $200,000 by year end due to shifts in investor strategy.
In a recent analysis, Standard Chartered suggested that Binance’s BNB token could see its price quadruple by 2028, reaching approximately $2,775. This promising outlook is grounded in the idea that BNB behaves like a mix of Bitcoin and Ethereum, making it a compelling investment choice. Currently, BNB ranks as the fifth largest digital asset with a staggering $87 billion market cap, trading around $595 according to CoinGecko.
According to Geoffrey Kendrick, the bank’s Global Head of Digital Assets Research, the BNB token has mirrored the performance of Bitcoin and Ethereum since May 2021, both in terms of returns and volatility. He predicts this trend will continue, propelling BNB from its current valuation to nearly three times its value within the next five years. Despite its limited utility, BNB’s market dynamics appear stable, providing a level of predictability.
The BNB token debuted in 2017 on the Binance exchange, the largest crypto trading platform globally, and initially operated on the Ethereum blockchain. It subsequently became the native currency of the BNB Chain, which caters to developers creating decentralised applications (dApps). However, Kendrick pointed out that this network is not as heavily utilised for development compared to other blockchain networks, which contributes to BNB’s static use cases in the market.
Despite the limited development activity, BNB remains a favourite among traders. Kendrick emphasised that, as long as Binance maintains its dominance in the crypto exchange market, the factors that drive BNB’s value won’t see drastic changes. He further envisions BNB possibly becoming a benchmark cryptocurrency, reflecting broader market trends.
In a related prediction, Standard Chartered also speculated that Bitcoin prices might soar up to $200,000 by the end of the year as investors shift capital from U.S. assets to cryptocurrency, further enhancing the appeal of tokens like BNB in the evolving digital asset landscape.
