BNB Coin Could Hit $2,775 by Year-End 2028, Standard Chartered Says
The token has traded like an unweighted mix of bitcoin and ether since May 2021, the report said.
BNB (BNB), the native token of Binance's layer 1 smart contract platform BNB Chain, will likely offer steady returns and could reach $2,775 by the end of 2028, investment bank Standard Chartered (STAN) said in a research report Tuesday.
"BNB has traded almost exactly in line with an unweighted basket of bitcoin and ether since May 2021 in terms of both returns and volatility," wrote Geoff Kendrick, head of digital assets research.
Kendrick expects this relationship to hold and BNB to increase from its current price of around $600 to $2,775 by the end of 2028.
As long as Binance remains one of the largest centralized exchanges (CEX), "BNB's value drivers are unlikely to change anytime soon," Kendrick said, and this means the token could potentially serve as a benchmark for digital assets.
BNB Chain is used almost entirely for decentralized exchanges (DEX), lending protocols and for liquid staking, he noted, meaning it is a "more concentrated and ‘old-fashioned’ smart contract platform than rivals such as Ethereum and Avalanche.".
Read more: Bitcoin to Hit New All-Time High Around $120K in Q2, Standard Chartered Says
