Standard Chartered: BNB +360% By 2028

The analysts' forecast of $2,775 is based on historical trading data for the Binance token since 2021.

By the end of 2028, analysts at UK bank Standard Chartered predict that Binance's cryptocurrency BNB (BNB) will grow by 360%.

"We expect this relationship to continue, with BNB rising from the current $600 to $2,775 by the end of 2028," Kendrick said. "Since May 2021, BNB has traded nearly in line with an unweighted basket of Bitcoin and Ethereum in both yield and volatility."

BNB Price Targets. Source: Standard Chartered Research

As of 7 May, BNB is the fifth largest cryptocurrency with a market capitalisation of $88 billion. The token reached an all-time high of around $788 in early December 2024.

According to the article, Kendrick considers BNB a standard asset in the cryptocurrency market. According to the expert, BNB's deflationary nature and its affiliation with Binance support its long-term value, even though it may lag behind Bitcoin and Ethereum in terms of market capitalisation.

Only 45 validators are chosen every 24 hours using the proof-of-stake authority consensus process used by the BNB Chain blockchain, determined by the amount of tokens staked by each validator. According to Kendrick, this system makes the BNB Chain much more centralised than, for example, Ethereum, which has more than 1 million validators.

The centralised structure of the BNB Chain and the lack of new use cases since the DeFi (decentralised finance) boom of 2021 have led to very low developer activity compared to blockchains such as Avalanche and Ethereum, Kendrick noted. However, he added that upgrades such as the recent Pascal and the upcoming Maxwell could increase developer activity on BNB Chain over time.

The BNB token has nonetheless seen strong user adoption due to its integration with Binance, where token holders receive discounts on trading fees, Kendrick said. This has partly helped keep BNB Chain active despite growing competition from other ecosystems such as Solana, Kendrick noted.

The BNB token also benefits from its deflationary model, he added. Binance uses token burn (destruction) mechanisms designed to reduce the total supply and create a deflationary effect, which supports the cryptocurrency price. The exchange destroys a portion of the BNBs spent as commissions on the Binance Smart Chain and also conducts quarterly burns.

In early May, former Binance CEO Changpeng Zhao visited Kyrgyzstan, where he was appointed as a cryptocurrency advisor. He suggested that Bitcoin and BNB be the first cryptocurrencies to be included in a national cryptocurrency reserve by the Kyrgyz government.