Binance coin price prediction in 2022 when it has increased 1300% in 2021
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The last day of 2021 is slowly passing. The cryptocurrency market has been extremely volatile over the past year. According to statistics, the price of Binance cryptocurrency (BNB) has increased by 1300%. The growth rate compared to Bitcoin and Ethereum is huge. Let’s see what the Binance Coin price prediction looks like next year – 2022.
Binance Coin outperforms two bigger competitors, Bitcoin and Ether
Bitcoin, Ethereum, Binance coin are currently the 3 largest cryptocurrencies by market value. However, the coin issued by crypto exchange Binance Holdings Ltd has had a breakout year and is up around 1,300%. Far ahead of Bitcoin and Ethereum gains of 65% and 408% respectively. According to statistics from Arcane Research.
BNB is widely used on Binance, the world’s largest cryptocurrency exchange by volume. It is also the primary currency used in Binance Smart Chain (BSC), a blockchain platform that powers smart contracts for use in decentralized finance (DeFi) and other applications. According to Arcane Research, with BSC appearing as a challenger to the Ethereum blockchain that has attracted more followers, it has helped drive the rise of the BNB token.
Other Altcoins, which have seen big gains in 2021, benefited from the explosion of investor interest in digital assets and the expansion of the crypto ecosystem. For example, Solana and Fantom, coins that are connected to other blockchain platforms that support smart contracts, are higher than Binance Coin’s returns.
Binance coin and crypto price prediction in 2022
Arcane Research makes many crypto predictions in 2022 including price, regulation, Bitcoin hash rate, and even the future of XRP and ADA.
“While Bitcoin shows strength in 2021, we have seen a steady flow of capital into altcoins,” the research firm wrote in a note. The company’s analysts predict the strongest momentum for tokens related to the metaverse and GameFi, along with Ethereum heavyweights.
Here is a summary of the predictions for the crypto market in 2022:
- Bitcoin Price will outperform the S&P 500 in 2022. The S&P 500 Index is a set of indexes comprising the 500 largest companies listed on US stock exchanges. This can be seen as an index representing the US stock market.
- BNB and other altcoins with the NFT craze will continue to grow and push Ripple (XRP) and Cardano (ADA) out of the top 10 coins by market capitalization.
- Layer 2 (L2) solutions on Ethereum (ETH) will continue to operate more efficiently.
- NFT will remain one of the prominent trends in 2022. Traditional games will continuously enter the NFT market to take advantage of this lucrative “piece of cake”. Traditional game companies will increasingly include NFT as a feature of their games.
- Many crypto companies will do IPOs (initial public offerings of shares) and some will have valuations above US$5 billion.
- 2022 is likely to see a Bitcoin ETF boom. Bitcoin ETF will hold over 1 million BTC by the end of 2022
- The hash rate will become evenly distributed across many other countries globally.
The upcoming 2022 will be the next challenging journey for the cryptocurrency market when regulations are tighter. Cryptocurrency companies like Binance will have the opportunity to showcase their capabilities. Let’s wait and see what happens.
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