Analysts assert that the price of Binance Coin (BNB) may reach $1,360 in a new bull cycle according to the 'Realized Price' model, which considers network activity and trader participation.
The 'Realized Price' Model and Its Significance
The 'Realized Price' model measures the average price of coins in circulation by accounting for supply and daily transaction fees on the BNB Smart Chain. This metric serves as a proxy for network activity and trader interest in this cryptocurrency.
Potential Growth During Altcoin Season
CryptoQuant notes that if an altcoin season occurs, BNB could potentially rise by 70% from current levels. However, there's a caution: the $1,360 mark has repeatedly acted as a saturation zone where rallies have cooled in past cycles.
Observing Historical Trends
BNB has previously demonstrated growth that reaches approximately double its realized price. Currently, this figure is near $680. Thus, a target at $1,360 seems realistic, but traders are closely monitoring whether history will repeat itself or if demand can finally push the coin above this long-standing ceiling.
Thus, the potential for further growth of Binance Coin to the $1,360 level theoretically exists, especially if a new period of active trading in altcoins begins. However, historical data suggests a need for caution.
