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BNB Basks In The Green As Price Glows 5.84% In Fields Of Red

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Cryptocoins News / NewsBTC 21 Views

While the rest of the tokens are smothered in red Wednesday, Binance Coin (BNB) is relishing its place in the green zone for the third day in a row this week.

Binance Coin’s price surged by 5.84% and is currently trading at $256.54 as of this writing. The coin currently has a total market cap of $41,367,894,785.

The coin is primarily targeting 61.80% on the upside, and then shooting for the next target at $265.7. Its third target is 23.60%.

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BNB is bracing itself on the downside at a fib level of 98%; next is at 127.20%, and the third at 161.80%. Its
24-hour price outlook is at the $293.6 to $249.8 range.

The 24-hour price range for BNB is between $239.6 and $249.8. In addition, the coin’s weekly or 7-day price range is seen between $239.6 and $270.93. On average, the 30-day price is at $239.6, or a spike of 1.17%.

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For Reference: BNB Price On Same Date In 2021 At $313.7

Binance Coin was reported at $249.3 yesterday and in the green lane for the second day in a row.

According to Fintech and crypto analysts, BNB is forecasted to end in 2022 at $274. Finder polled around 54 individuals and predicted that BNB price will shoot for $781 in 2023.

Kevin He, CloudTech Group COO, made a forecast that BNB will gallop at $250 by the end of the year. More so, He predicted that BNB will soar to $1,000 by 2030, He believes that the coin will come on strong mainly because of Binance’s robust ecosystem.

Joseph Raczynski, a Thomson Reuters futurist, and technologist, who believes in the power and dominance of Binance as a global change, is extremely bullish than other panelists.

Raczynski is fully convinced that “While BNB is not decentralized; it still can serve a purpose for fast and cheap transactions. That has a cost though. Binance could change parameters on the token without general consensus and they are far more likely to be a single point of failure.”

BNB total market cap at $41.5 billion on the weekend chart | Source: TradingView.com

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BNB Seen Climbing To $3,000 In 2030

Ben Ritchie, Digital Capital Management managing director, believes that the BNB ecosystem is bound to continuously grow and can even soar to $3,000 in 2030.

Meanwhile, BNB Chain is also bent to build a layer 2 chain in the Binance networks which are incredibly helpful in buffering the costs and expensive gas fees in the future which are also the same problems experienced by Ethereum.

With Binance Coin issues with SEC, Martin Froehler, Morpher CEO, believes that SEC has this thinking that every single crypto is a security and that BNB was in effect sold to U.S. customers.

Roughly 50% of the panelists recommend holding Binance Coin, 30% say yes to selling the coin, while 20% say to buy BNB.

Featured image from Finance Zipmex, chart from TradingView.com

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