Banking giant predicts BNB price to 4x in value

⚈ Forecast based on BNB’s correlation with BTC and utility in Binance ecosystem ⚈ Adoption boost expected from upgrades, ETF filings, and potential state reserves Since initiating its coverage of the cryptocurrency markets in 2021, Standard Chartered has been responsible for multiple exceptionally bullish price forecasts. In its latest note, the bank estimated Binance’s BNB will reach $1,275 by the end of 2025 and a staggering $2,775 in 2028. Geoffrey Kendrick, the bank’s head of crypto research, issued an optimistic prediction that is based on the estimate that the Binance Coin remains an important benchmark for digital assets and has historically maintained a strong correlation with Bitcoin (BTC) and Ethereum (ETH). Between the established correlation and overall strength, Standard Chartered’s forecast can be viewed through the lens of its earlier BTC price prediction. As Finbold reported in late April, the banking giant estimates that the world’s premier cryptocurrency will climb to $200,000 by the end of 2025, and it set its sights for 2028 at $500.000. The ambitious predictions for Bitcoin would see the coin 106.31% from its press time price of $96,942 by December 31 and 415.77% within three years. Under the circumstances, the fact that the BNB forecast estimates a 110.47% rally for the token this year and 358.07% from its press time price of $605 by 2028 falls in line with the correlation thesis. Why BNB is set for a 360% three-year rally Although Standard Chartered’s Kendrick noted that BNB’s developer activity has been comparatively lacking in recent years, he opined that the upcoming Maxwell upgrade and the recent Pascal hard fork would alter the situation. Kendrick also revealed that the token’s low developer activity has been less of a hurdle than it would be for most other digital assets, thanks to its utility in the Binance cryptocurrency exchange ecosystem and use on related decentralized platforms such as PancakeSwap. BNB adoption could skyrocket in 2025 BNB could also potentially receive additional utility and see greater adoption in the relatively near future. VanEck recently filed for a spot BNB exchange-traded fund (ETF), adding to the Securities and Exchange Commission’s (SEC) growing pile of such products it needs to decide on. The SEC is widely expected to approve a significant set of such investment vehicles due to multiple factors, including opening the floodgates with Bitcoin and Ethereum in 2024, growing more crypto-friendly under President Donald Trump, but also due to Trump Media & Technology (NASDAQ: DJT) partnership with Crypto.com to launch digital asset exchange-traded products (ETP). Binance founder and former CEO Changpeng Zhao has also been lobbying for nation states to adopt his company’s cryptocurrency and recommended that Kyrgyzstan include both BTC and BNB in a strategic reserve on May 5. BNB needs to break stagnant performance to meet the target Standard Chartered’s price prediction would require a substantial shift in BNB’s price action. While it would be unfair to say the cryptocurrency has been weak, though it is 13.66% down year-to-date (YTD), it is 75.59% above the high points of its ‘crypto winter’ range between roughly $200 and $350, it has been somewhat stagnant. BNB rocketed from approximately $200 to about $600 between late 2023 and early 2024 and has, despite notable volatility, moved little since. Featured image via Shutterstock Source: https://finbold.com/banking-giant-predicts-bnb-price-to-4x-in-value/