Standard Chartered, a UK-headquartered global financial institution, has projected BNB price for the next four years, including a rally to $2,775 by 2028.
The prominent financial institution sees BNB, the utility token of the BNB Chain ecosystem, hitting giant strides in the next three years. Specifically, the outlook suggests the token will surge 360% from the current market price of around $604 to $2,775 by 2028.
Before then, Geoff Kendrick, Standard Chartered’s head of digital asset research, speculated a slow but intentional price swell. He predicted a rally to $1,275 this year, then $1,755 and $2,225 in 2026 and 2027, before trading near $2,800 in the subsequent year.
Catalyst for Sustained Rally
Despite less traction coming BNB’s way, it still controls a considerable amount of the global crypto market cap. It currently ranks as the fifth-largest cryptocurrency by market cap, with a valuation of $84.5 billion.
Meanwhile, Kendrick tied the expected price uptrend to BNB’s trend like an outweighed index of Bitcoin and Ethereum. He identified that the asset has been closely mirroring the returns and volatility of the two largest cryptocurrencies in the space since May 2021 and predicted the indexing to continue pushing BNB price to new highs.
This suggests that as long as BTC and Ether continue to appreciate, BNB will follow suit. Notably, Standard Chartered had earlier predicted that Bitcoin and Ethereum would surge to new price discovery in the coming years, specifically forecasting the former would hit $500,000 and the latter $7,500 by 2028.
BNB’s Binance Tie Sustaining Relevance
Remarkably, Kendrick highlighted several downsides contributing to the lack of buzz around BNB in comparison to other caliber assets like Ether and Solana. He called the BNB Chain ecosystem’s native token an outdated token stuck in the 2021 DeFi boom and a “centralized Ethereum backed by Binance.”
The analyst further described BNB Chain as a largely centralized blockchain. It uses the proof of staked authority (PoSA), a consensus that changes its set of 45 validators every 24 hours. Furthermore, Binance’s central control and a lack of developer traction further add to the network’s ordeal.
Nonetheless, its ties with the largest crypto exchange by trading volume and token deflationary model have kept it afloat. Furthermore, its profound decentralized exchange presence, owing to PancakeSwap’s sustained user influx, has ensured BNB’s relevance.
As a result, with Binance’s influence not going away and BNB’s sustained correlation with BTC and Ether, Kendrick noted that BNB could be a proper benchmark asset for gaining exposure to the broader cryptocurrency market.
Meanwhile, CryptoQuant recently called BNB the most resilient asset in the current market, counteracting assertions that the token closely mirrors the market’s tune.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
