Binance is the world’s largest cryptocurrency exchange, and it facilitates vast amounts of trading volume every day. The Binance Coin reduces transaction fees for users. So, its popularity continues to grow as we head into 2021. In this article, we present our BNB Price Prediction for October. Our forecast covers all factors influencing price and tells you how to invest in a coin with 0% commissions!
Binance Coin Price, the Story of 2021 So Far
Binance Coin is the native cryptocurrency of Binance exchange. The coin trades under the symbol’ ‘BNB” and can be bought or sold on various crypto-exchanges, including the Binance exchange. Initially running only on Ethereum blockchain, but now it has its blockchains known as Binance Chain.
The Binance Coin has a maximum supply of 200 million tokens. In addition, every three months, the coins are destroyed, which makes their value increase. At no time will the coins overpopulate the supply change.
Binance Coin is an exciting cryptocurrency that aims to cut down trading fees for Binance platforms. It also has the potential of becoming a useful form of payment in both crypto and non-crypto activities, thanks to its acceptance from major companies like Shopping.io & Travala.
Source: TradingView
The Binance Coin was one of the most successful coins in 2019, with a rise that saw its price increase by 1440%. However, after reaching an all-time high at $692, it fell heavily to stabilize around 250 dollars per coin. Since July 2021, there has been some bullish momentum, as prices increased 100% between those dates. This prompted many investors back into trading on this popular crypto exchange again. Binance Coin seems ready for another massive bull run.
BNB Price Prediction for October
Looking at the Binance Coin price chart, you can see that prices were steadily trending upwards – although they weren’t accelerating as much. This might be because there is a low level of momentum to fuel further upward movement in this particular cryptocurrency’s value.
Source: EconomyWatch
The recent price action has been volatile and confusing, with a range-bound pattern emerging. Price will now look to find support at $250 before bouncing back up again. There are bullish characteristics that indicate the price might rise.
Fundamental Analysis
Binance Coin (BNB) is a token used on the Binance platform to reduce transaction fees. However, it has seen recent growth in value as more investors find interest and new uses for this digital asset, making them an attractive prospect with potential riches.
One reason to invest in Binance Coin is that it can be a cheaper option for getting Bitcoin exposure. Buying one bitcoin might give you direct access too, but buying any amount of binance coins will let your portfolio grow.
BNB will be a good investment if you want to invest in the crypto market. Binance, with its large exchange and strong community of investors, is poised for growth as prices continue their upward trajectory towards new highs.
Binance Coin Prices for October
The Binance coin, also known as “BNB,” is predicted to reach $511 at the end of October 2021. But you should expect some volatility in these figures depending on whether there have been any major news events that affect their value over time, which could increase its rate.