Standard Chartered Forecasts $2,775 for Binance’s BNB by 2028

According to a research report shared by Standard Chartered, the Binance Coin (BNB) can record a price increase of more than four times its current price value. Geoff Kendrick, the head of research at Standard Chartered Bank, disclosed his bullish outlook for the altcoin in a report shared on Tuesday. Kendrick notably asserts that BNB, the fifth-largest cryptocurrency by market capitalization, could hit a $2,775 price point by 2028. The price forecast, slightly bold, suggests that BNB bulls could accumulate gains going up to 364.047% over three years. As the analyst wrote in the research report; “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,” Kendrick’s optimistic outlook centers on the success of the leading cryptocurrency exchange Binance, which he believes has armed the BNB token with long-term potential. With Binance maintaining its position as one of the top exchanges, “BNB’s value drivers are unlikely to change anytime soon,” the analyst added. The recent BNB spot-based ETF filing from VanEck has bolstered trust among key players, who are confident that an approval from the U.S. SEC could catalyze a major price rally. Despite upholding a bullish sentiment, Standard Chartered maintains that the asset faces many risks and market barriers. The bank observed that regulatory uncertainties, market volatility, and macro instability could extensively affect growth. Meanwhile, BNB has entered the new week with bulls reclaiming buying power. As a result, the asset has cleared off losses from the previous weekend and is now emerging as the best performer within the top 5 category. BNB was valued at $613 per coin at the time of their report.

Source: ZyCrypto