Standard Chartered released an analysis of BNB cryptocurrency, predicting significant price growth by 2028. The report examines both current positions and future trends in the market.
Analysis of BNB by Standard Chartered
The forecast suggests that BNB's price could reach $2,775 by the end of 2028, indicating an increase of over 360% from current levels. Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, noted that "BNB has been almost exactly in line with an unweighted basket of Bitcoin and Ethereum in terms of both return and volatility since May 2021."
Structure and Features of BNB
Kendrick described BNB as a 'benchmark-like' asset in the cryptocurrency market. While BNB may be weaker in terms of absolute returns and market cap compared to Bitcoin and Ethereum, its long-term value is supported by its deflationary structure and its close relationship with the Binance exchange. The BNB Chain's 'proof of staked authority' consensus model, which works with just 45 validators, results in a more centralized network.
Long-term Prospects for BNB
Kendrick emphasized the strong user demand due to the utility features of BNB, such as reduced trading fees on the Binance exchange. Additionally, the dominance of decentralized applications like PancakeSwap plays a crucial role in maintaining the network's effectiveness despite increasing competition from rival ecosystems.
Standard Chartered's price forecasts for BNB indicate a positive outlook for the cryptocurrency, driven by its deflationary model and sustained user demand.
