As the price of Binance’s native token (BNB) records a massive spike on May 5 in response to French financial regulators approving Binance and the cryptocurrency exchange committing $500 million to Elon Musk’s Twitter takeover, the community has projected it would continue ascending.
Indeed, the community of voters at CoinMarketCap has estimated, with a historical accuracy rate of 83% and 4,817 votes, that the largest crypto exchange’s digital currency would trade at an average of $423.99 by the end of May 2022.
Specifically, the forecast price indicates a $14.55 or 3.55% increase from the decentralized finance (DeFi) asset’s current value of $409.44.
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Meanwhile, the votes from 2,187 community members for the end of June have set a tad higher growth goal than May’s – estimating that the coin would trade at $425.45 on June 30, which is a $16.01 or 3.91% increase on the current price.
Based on the performance of its previous projections, the crypto community has historically anticipated the price of BNB with an accuracy rate of 83.06%.
Elsewhere, in early March, Finbold had reported on experts’ predictions that the price of BNB could continue to grow steadily over the next ten years, even surpassing $2,400 by 2030. As for the nearer future, these experts have said that the token would trade at around $527 by the end of 2022.
BNB price analysis
At press time, Binance Coin traded at $409.56, which demonstrates a 4.64% increase on the day and a 1.6% gain compared to seven days ago.
It will be interesting to observe how everything will play out for BNB and whether the experts’ and community’s expectations of its future price advance will indeed come true.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
