In the cryptocurrency world, Binance Coin (BNB) is the fuel that drives the BNB Chain ecosystem. As a favorite among investors, BNB sees consistent demand throughout the year. Let’s take a look at Binance coin price prediction.
When you look at the 6-month chart, it’s easy to see that BNB was able to ride out the storm in the crypto markets and come out mostly unharmed. While Bitcoin and Ethereum are down nearly 75% from their peaks, Binance Coin is down nearly 50%.
On Thanksgiving Day, November 23, the cryptocurrency was trading at $297, a gain of 1.5% from the previous trading day. However, following the fallout from FTX, investors appear bearish, and user interest in purchasing tokens appears to have waned.
Also Read: Bitcoin Index: ‘Extreme Fear’ Grips Market as BTC Consolidates at $16,000
Binance BNB December 2022 Price Prediction
According to a poll published by CoinMarketCap today, cryptocurrency investors are pessimistic about BNB. The community has not predicted a large drop in BNB’s price, but they do expect the coin to move relatively sideways.
According to market consensus, the price of BNB will drop to $289.4 by the end of 2022, or $8, or 3.5%, below its current value.
Also Read: Here’s Bitcoin Price Every Thanksgiving From 2010 to 2022
Why Does Binance Coin Remain Strong?
There are still a lot of people using the BNB Chain, with around 1.27 million unique addresses being used on a daily basis despite the market downturn. As a result of this advancement, it has become the most dynamic blockchain among its peers in the business world.
Furthermore, while most cryptocurrency exchanges are under scrutiny, Binance stands tall and proud. Binance is actively hiring at a time when other major exchanges are cutting back due to the prolonged bear market.
Also Read: Will Ethereum Fall to Three Digits By the End of November 2022?
The CEO of Binance has stated that the company will not be expanding beyond its current size of 8,000 workers. The company, which already dominated the global market, announced nearly 2,000 new job openings in June of this year. For this reason, the BNB Chain is consistently able to draw in new investors from January to December.
Disclaimer: This isn’t financial advice; it’s just for education. Crypted Crypto can’t guarantee its accuracy. Every investment and trade carries some risk, so always do your own research. Invest only what you can afford to lose.
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