Why Crypto Exchanges Need Their Own Coins and Binance Coin (BNB) Price Prediction 2024-2030

When Bitcoin (BTC) was launched in 2009, getting to own this asset was not an easy task. At that time, most BTC holders used to get this cryptocurrency through mining. One had to negotiate directly with a crypto miner to purchase these digital coins. But in 2010, Bitcoin became available to buy, sell, and trade on online exchanges. As more cryptocurrencies emerged, crypto exchanges became an integral aspect of the ever-expanding blockchain ecosystem. Today, these online platforms facilitate access to a wide array of digital assets.

Over the years, crypto exchanges have adapted to match the requirements of traders and investors as the blockchain industry evolves. Besides increasing the number of cryptocurrencies listed for trading, exchanges often offer new features to improve the user experience on their platforms. As part of these features, some exchanges issue their own coins and tokens, digital assets native to their issuing platforms. But what are the benefits of these crypto exchange coins?

It is important to note that not all crypto exchanges issue their own native tokens. A crypto exchange usually releases its own coin as a fundraising strategy. But these digital assets often play other roles in ensuring an exchange’s smooth operation. For instance, they can be used to reward and incentivize loyal and active users. Other common reasons to issue these assets include improving liquidity on the exchange, paying exchange fees, and governance.

Binance Coin (BNB): The Native Token of the Largest Crypto Exchange

Binance is the largest cryptocurrency exchange worldwide per daily trading volume. Launched in 2017, Binance has already created an entire ecosystem of functionalities for crypto traders and investors, including the Binance Chain, Binance Smart Chain (BSC), Binance Academy, and others. Binance’s native coin, BNB, powers most of these sub-projects. This digital coin has attracted the interest of investors, financially benefiting Binance.

BNB is the best example of a successful crypto exchange coin. As of September 2022, it is the fifth most valuable cryptocurrency by market capitalization. Although it has lost value in the current crypto winter, this coin is still performing better than other prominent cryptocurrencies. The following table summarizes the key stats of this coin as of September 27, 2022.

BNB Price History

According to CoinMarketCap, BNB hit the trading market on July 26, 2017, at an initial price of $0.1077. This coin quickly increased its price, reaching $22.76 on January 5, 2018. However, the price dropped again but remained above the $4 level throughout 2018. In 2019, the BNB price increased again, reaching $38.82 on June 20. The BNB price showed steady growth in 2020. It opened that year at $13.69 and closed at $37.91.

Like other cryptocurrencies, BNB had an outstanding performance in 2021. Since the beginning of that year, the BNB price climbed to new records, setting its all-time high price on May 10 at $690.93. The BNB price had its ups and downs, closing 2021 at $527.35. In 2022, BNB began to lose value, bottoming on June 17, when it traded at $197.04. After that point, the BNB price rebounded, and as of September 27, 2022, it sold at around $275.

Binance Coin (BNB) Price Prediction

Most analysts believe the BNB price will continue growing in the remainder of 2022. But what can investors expect for the following years? Let us answer this question with the next BNB price prediction summarizing forecasts from reputable analysts.

Binance Coin (BNB) Price Prediction 2025

BNB will continue increasing its value beyond 2023. Crypto News Z predicts BNB will trade between $490 and $590 in 2025. Telegaon is more optimistic, indicating a BNB average price of $765.85 in 2025, possibly climbing to $821.13. Price Prediction expects the BNB price to explode in 2025, reaching a maximum of $1,120.89. Accordingly, the BNB average price will be $970.58. Digital Coin Price agrees with the previous prediction, expecting a BNB average price of $1,103.95 in 2025, with a potential maximum of $1,152.01. But the most optimistic forecast is by Coinpedia, which expects a BNB maximum price of $2,007.3 in 2025, averaging $1,450.7 throughout that year.

Binance Coin (BNB) Price Prediction 2030

Crypto News Z forecasts the BNB price to fluctuate between $1,020 and $1,300. Telegaon is slightly more optimistic, with a minimum price of $1,369.18 and a maximum of $1,575.23, averaging $1,479.75. However, other sources expect the BNB price to climb to unprecedented levels in 2030. Digital Coin Price predicts a BNB average price of $3,754.45, with a maximum of $3,834.52. For its part, Price Prediction forecasts a BNB average price of $6,104.65, possibly reaching $7,021.51 in 2030.

Conclusion

Crypto exchanges can issue their own digital coins to raise funds, increase liquidity on their platforms, reward active customers, and for other purposes. One of the most successful cryptocurrencies of this type is BNB, issued by Binance, the largest centralized exchange worldwide. According to most price predictions, BNB will dramatically increase its price in the coming years, showing that Binance will continue to dominate the cryptocurrency exchange industry.

FAQs

How to get crypto exchange coins?

Most crypto exchange coins are initially available for purchase through an initial exchange offering (IEO), an initial coin offering (ICO) for these particular assets. Airdrops are also common when a crypto exchange launches its own digital coin. Alternatively, one can purchase crypto exchange coins from an exchange. LetsExchange.io lists several of these coins for trading, including BNB. On our platform, you can buy and sell cryptocurrencies without registration and at competitive rates.

Is Binance Coin (BNB) a good investment?

The BNB price exploded in 2021, attracting the interest of many investors. Although the crypto winter has negatively affected this coin's price, most experts expect it to rebound in the coming years. Some optimistic predictions expect the price to explode again toward the decade's end. Experts argue that Binance will continue to dominate the crypto exchange industry and, as a result, the BNB price will continue going for several years. Hence, BNB might be an excellent long-term investment. However, remember that cryptocurrencies are highly volatile, and those price predictions might not entirely materialize.

How much will BNB be worth in 2030?

Price predictions for 2030 vary greatly. However, one of the most optimistic forecasts put the maximum BNB price at $7,021.51 in 2030.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.

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