Binance is most certainly one of the most popular and biggest crypto exchanges with great authority in the market, although it is not among the first. Binance has a major ecosystem that includes many blockchain-based and crypto products, which is not the case with many crypto exchanges. As the native crypto exchange, Binance Coin (BNB) went through a major surge several weeks ago when Binance announced launching several new cryptocurrency products. At the time, BNB surged to reach a new all-time high on February 19th, trading at 339$. Binance Coin is trading -23% down compared to its ATH, however, new rises are evident across BNB charts. Despite the dips, Binance Coin is likely to reach 1000$ by the end of 2022.
How Can Binance Coin (BNB) Reach 1000$ by the end of 2022?
Binance Coin is currently trading below its ATH, at the price of 256$, however, the yearly chart is reading over 2300% returns, indicating that BNB has had a bullish period. Even though BNB dipped since making it to a new ATH, we mustn’t forget that these dips mostly hit the market in March. March is known to be a rather bearish period in the crypto market judging by the historical data, which is how we can expect a bullish reversal in trends with the ending days of March. At the current pace of growth, with nearly 100% of gains on the 30-day chart, Binance Coin has enough time to recollect bullish momentum and head for its ATH and higher to break the resistance of 400$ from where it could reach 500$ in case it sets new support levels. By 2022, Binance is likely to introduce new products and attractive listings, strengthening its operations, which could reflect on the price of BNB positively.
Image credits: Cover photo taken from DataDrivenInvestor on Medium
