Following a significant price increase past $600, BNB is on the verge of reaching a new record high, as forecasted by market experts.
Binance Coin (BNB) is on an upward trajectory, showcasing strength and the potential to surpass its previous all-time high (ATH). In the last day, BNB saw a 7% increase in price, approaching the $610 level.
Why is BNB Pumping?
Experts in the field remain bullish on the token’s future, anticipating further gains that could lead it to break past records in the near future.
The recent climb is a result of various factors, including the overall market trends and Bitcoin’s performance. Additionally, the launch of ether.fi (ETHFI) on the Binance Launchpool, which allows users to earn ETHFI by staking BNB, has contributed to BNB’s price increase.
BNB Price Prediction 2024
Predicting a bullish future for BNB, Crypto analyst Altcoin Sherpa is confident in the cryptocurrency's ability to revisit and possibly exceed its peak price of $686.3. Referencing a chart of BNB's recent performance, Altcoin Sherpa suggests that reaching a new ATH is both plausible and likely.
Supporting this view, Captain Faibik, a noted cryptocurrency trader and analyst, highlights that BNB has surged over 120% since his last forecast. Initially, he predicted that BNB would hit a new ATH in the first half of 2024, and the recent price movement supports this outlook.
Should You Buy BNB Now?
The current price of BNB stands at $611.45 per BNB/USD, with a market capitalization of $91.44 billion USD. The 24-hour trading volume is reported at $5.93 billion USD. The BNB to USD exchange rate is continuously updated, showing a +7.87% increase in the last 24 hours and a circulating supply of 149.54 million.
Currently, BNB is priced at $610, marking a significant 40% increase from the previous week. This sets the stage for BNB's potential ascent to new heights, with investors keenly watching its progress towards an unprecedented ATH.
Given BNB's strong performance history and solid fundamentals, it remains a compelling choice for investment. However, as with any investment, it's essential to conduct thorough research before making a decision.