The native token of Binance crypto exchange and BNB Chain called Binance Coin (or BNB) may break through to $2 thousand or even higher. According to a report by investment firm Hash Global, the token is ready for a price of $2039.58, which is 155% higher than the current price of $852. On the back of this news, the price of BNB has already jumped by 12.27% over the past 24 hours.
Binance founder Changpeng Zhao (CZ) noted that previous Hash Global forecasts were more or less accurate.
“I’m not an expert on valuation models, but Hash Global’s previous predictions have been pretty accurate. The value of a token has to have many components, so if such a simple formula can cover all aspects of value, it is impressive. Market prices often deviate from fundamentals — sometimes higher, sometimes lower. Binance will continue to build to strengthen the fundamentals of BNB’s value and leave the pricing to experts like Hash Global.”
In its report, the investment firm noted that the Binance ecosystem includes both the Binance Exchange (CEX) and BNB Chain. Therefore, it took into account the total economic activity stimulated by BNB in both segments, including: a portion of the commissions for spot and derivative trading on Binance CEX paid using BNB and total commissions on BNB Chain. For the calculation, the following annual economic growth rates of the ecosystem were assumed to estimate the nominal total economic value: 2025-2027: 25%, 15%, and 10% respectively; From 2028 onwards: a long-term stable growth rate of 3%.
Meanwhile, investors are awaiting the release of the US Consumer Price Index (CPI) data. Many expect CPI and core CPI to rise. This could lead to the Federal Reserve leaving interest rates unchanged again.
BNB and the entire cryptocurrency market may suffer under such conditions.
However, many experts expect the Federal Reserve to cut interest rates by 25 basis points in September this year. This will only stimulate the market.
Source: Hash Global
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