Standard Chartered Analysts Predict BNB Price To Reach $2,775 by 2028

Binance Coin (BNB), the native cryptocurrency of Binance’s smart contract platform called BNB Chain, could see significant gains in the next few years. According to a new report from Standard Chartered, a central international bank, BNB could rise from its current price of around $600 to $2,775 by the end of 2028. 

The report explained why BNB is likely to grow steadily and become even more critical in digital assets.

Analysts Reveal BNB Follows Bitcoin and Ethereum’s Market Path

According to Geoff Kendrick, head of digital assets research at Standard Chartered, BNB has moved in line with Bitcoin (BTC) and Ethereum (ETH) since May 2021. 

This means BNB’s price and volatility have matched the market movement of these two top cryptocurrencies. Kendrick believes this pattern will continue, possibly helping BNB grow in value over the next four years.

Binance Gives BNB Price a Strong Support System

Analysts at Standard Chartered highlighted that one of the main reasons BNB is so valuable is its strong connection to Binance, one of the world’s biggest centralized exchanges. The trading company uses BNB for many things on its platform, such as trading discounts, paying fees, and more.

As long as Binance stays popular and trusted, BNB will continue to have strong demand. Kendrick believes that BNB’s main value drivers, such as its use on Binance, will not change anytime soon. 

This stability could help BNB grow steadily and become a reliable crypto asset for investors. Kendrick even suggests that BNB could become a benchmark for digital assets, similar to how Bitcoin and Ethereum are often used to measure the crypto market.

BNB Chain Is Simple, Yet Focused

BNB Chain, which recently completed its Lorentz Hard Fork, is the blockchain that supports the BNB token. It is a layer-1 smart contract platform, just like Ethereum and Avalanche. However, Kendrick pointed out that BNB Chain is more focused and “old-fashioned.” It is mainly used for decentralized exchanges (DEXs), lending protocols, and liquid staking.

Unlike Ethereum, which supports a wide range of apps, from Non-Fungible Tokens (NFTs) to games, BNB Chain sticks to what it knows best. This might seem like a weakness, but it can actually be a strength. By focusing on a few key uses, BNB Chain avoids being too complicated, which could help the BNB price maintain steady growth.

With a strong connection to major cryptos and the backing of Binance, BNB has a good chance of rising to $2,775 by 2028. While it may not be the most popular token in the market, its solid foundation could make it one of the more reliable options for long-term investors.