With all the inquiries and speculations about the future of Bitcoin and Ethereum, many individuals fail to see the emergence of numerous vibrant crypto assets and to understand how Blockchain technology has evolved far beyond this original scope. Despite the common belief that encapsulates the crypto landscape into a story dedicated to Bitcoin, you should acknowledge the existence of the thousands of other options, including BNB, SOL, XRP, and DOGE.
Among the four altcoins mentioned before, Binance (BNB) stands as the most valuable one, with a live market cap of USD 75,542,887,470 (at the moment of writing). BNB was created in July 2017 and plays a crucial role in any investment portfolio, being distinguished for a multitude of reasons. Here are a few:
- BNB is backed by Binance, one of the largest and most reputable cryptocurrency exchanges.
- BNB holders continue to enjoy discounted trading fees.
- BNB works in a scarcity model called a token burn mechanism that can increase the value of BNB over time.
- BNB forms strategic partnerships and collaborations with reputable companies, such as Travala, CoinDFlip, and Swipe.
However, responsible traders always do their own research and picture the bigger picture of the crypto ecosystem, as it is much more complex and volatile than it might appear at first glance.
With no further ado, it is time to explore what Binance Coin (BNB) has to offer in terms of uses and innovations, as well as its key features.
Uses of Binance Coin
Binance Coin (BNB) extends beyond the Binance exchange, offering several uses that benefit traders with an upgraded experience. A few notable examples include:
- Trading: Significant discounts are available for those who opt to use BNB for transactions. Furthermore, if you’re a VIP user, you can receive a 25% discount. Check out the benefits of BNB to learn more.
- Token Sales: BNB plays a vital role in the broader cryptocurrency ecosystem. It allows users to participate in token sales on Binance Launchpools and Hodler airdrops.
- Credit Card Payments: Whenever shopping online, playing in-store, or using a crypto credit card, you can benefit from seamless, fast, and low-cost payments.
- Booking Travel Arrangements: BNB can be used to book flights, hotels, and other travel arrangements through partners such as TravelByBit.
- Entertainment: BNB can be used for many different functions, from buying virtual gifts, music, lottery tickets, and game rewards.
- Loans and Transfers: BNB has made collateral borrowing possible on the Binance Loans Platforms. Moreover, several apps were developed that allow BNB’s users to split bills and pay through Binance Coin.
Innovative Features and Upgrades of Binance Coin
Binance has long implemented sought-after innovations that target BNB’s functionality and value proposition, using strategic initiatives and technological advancements to achieve its purpose. The introduction of Binance Smart Chain (BSC) signifies Binance’s commitment to advancing blockchain technology and constant efforts to meet the ever-expanding demands of its versatile user base.
Launched in September 2020, Binance Smart Chain has provided traders with a scalable and efficient blockchain platform, offering services for decentralized applications (dApps) and smart contracts. BSC serves as a pivotal factor in the future of decentralized finance through its independent operational framework and an approximate 3-second block time for swift transactions.
BNB is expected to grow significantly in utility and demand, facilitated by DeFi growth, NFTs, and gaming applications.
BNB Price Predictions
In 2025, BNB is expected to see fluctuations from a low of $581 to a high of $1249, with the projected average price estimated to be $927.
In 2026, BNB is forecasted to see a minimum price of $728 and a maximum of $1424, with an average price of $1076.
In 2027, BNB is expected to reach its highest point of this decade. If interest in cryptocurrencies continues, the price of BNB might be pushed higher, towards $1,500.
In the very best case and under stable conditions, BNB might touch $2,000 by 2030, indicating exceptional growth potential within a prosperous market environment.
Should You Buy Binance Coin Now?
Due to factors such as geopolitical uncertainties and market sentiment shifts, BNB has experienced a 10% decline. However, that doesn’t necessarily imply that BNB will face challenges in the future, as it will experience beneficial outcomes from the upcoming blockchain enhancements, such as the planned BNB Smart Chain upgrade.
As long as you’re comfortable with cryptocurrencies’ volatile nature, buying BNB could present a solid opportunity for your portfolio and long-term earnings. Approach your journey with patience, and make it a habit to stay consistently informed about market news, ensuring you’re always aware of the latest trends and developments.
What Should Influence Your Decision to Selling Your Binance Coin?
Assuming you’re already an owner of BNB and want to be aware of what would be the optimal time to sell it, you should carefully consider the following factors:
- Market Condition and Technical Indicators: If BNB experiences a significant price decline or approaches a resistance level that reminds you of previous price reversals, you might have a potential selling opportunity.
- Market Sentiments and Latest News: Any news and developments related to Binance and the cryptocurrency market are valuable and extremely relevant. Positive news has the power to drive prices up, while negative news can have the exact opposite effect. For instance, if Binance publicly discusses new features or significant partnerships that enhance BNB’s features, it may serve as a potential indicator for an upcoming price rise.
- Tax Implications: Selling BNB implies some tax consequences that you should be aware of. It’s better to consult with a tax professional, as there are many jurisdictions in which selling cryptocurrency can trigger significant capital gains taxes.
Lastly, the decision is up to your goals and instincts. Be mindful not to fall victim to the powerful emotions of fear and greed, as both can distort decision-making and lead to costly mistakes in this fast-moving market.
