Standard Chartered recently released a report predicting that BNB will rise to $2,775 by 2029. BNB is highly integrated with Binance, supporting its long-term value. Binance's recently promoted Binance Alpha activity has continuously set new trading volume records, but the scoring system, which heavily depends on Alpha Token trading volume, has raised dissatisfaction among many users due to constant point inflation.
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ToggleStandard Chartered 2029 Target Price: BTC 500K, ETH 7.5K, BNB $2,775
According to The Block, Standard Chartered's Global Head of Digital Assets Research, Geoffrey Kendrick, recently released a report predicting that Binance's BNB will rise to $2,775 by 2029, which is 4.6 times its current price. During the same period, Bitcoin's target price is $500,000, and Ethereum's is $7,500.
BNB's High Integration with Binance Supports Long-Term Value
Standard Chartered believes that although BNB's actual performance and circulating market cap metrics may not be as strong as Bitcoin and Ethereum, BNB's deflationary nature and its connection to the Binance centralized exchange support its long-term value.
BNB Chain is Binance's Layer 1 blockchain, using a Proof of Stake consensus model that selects 45 validators every 24 hours based on staked token amounts. Kendrick notes that this setup makes BNB Chain more centralized compared to peer networks like Ethereum, which have over a million validators. However, the recent Pascal hard fork and the upcoming Maxwell upgrade in June can help increase developer engagement.
BNB's integration with the Binance centralized exchange supports its strong user demand. Token holders can receive trading fee discounts based on their BNB balance and trading volume. This utility tied to the exchange, along with the dominance of decentralized exchanges like PancakeSwap on the BNB Chain, helps BNB Chain remain active despite increasing competition from other ecosystems like Solana.
Binance Alpha Daily Trading Volume Near $300 Million, Alpha Points Volume Sparks Controversy
Binance recently launched Binance Alpha Points to encourage user activity within the Binance Wallet ecosystem. The higher the points, the more eligible users are for TGE activities or Alpha airdrops. However, since the points heavily depend on Alpha Token trading volume, the constant point inflation has sparked dissatisfaction among many users, as the cost of volume trading is significant, essentially becoming a method only accessible to large traders.
(Learn how to efficiently obtain Binance Alpha Points to compete for TGE and airdrop opportunities)
According to @pandajackson42's data, on May 6th, Binance Alpha 2.0's trading volume reached $290 million, setting a new historical high. KMNO's trading volume was $94.3 million, and B2 reached $60.9 million. Additionally, Binance Alpha 2.0's daily transaction count exceeded 1 million.
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