Standard Chartered Bank Predicts BNB Will Hit $2,775 by 2028

Standard Chartered Bank has projected that Binance Coin (BNB) could reach $2,775 by the end of 2028. This figure marks a potential increase of over 360% from its current market price of $599.77. 

JUST IN: Standard Chartered Bank predicts $BNB will reach $2,775 by 2028.

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According to the financial firm, BNB trades ‘rich’ by its preferred valuation metric, market cap to chain GDP. This is likely due to its connection to Binance’s centralized exchange and the deflationary tokenomics of BNB.

Key Factors Behind the Forecast

Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, highlighted BNB’s strong correlation with Bitcoin and Ethereum as a significant factor in this projection.

“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility. We expect this relationship to continue to hold, driving BNB’s price from around $600 currently to $2,775 by end-2028,” Kendrick said.

The analyst views BNB as a benchmark-like asset within the crypto market. While it may underperform Bitcoin and Ether in certain areas, the analyst believes that BNB’s deflationary nature supports its long-term value.

Kendrick highlighted that BNB Chain, the Binance-affiliated layer-1 blockchain, uses the “proof of staked authority” consensus model. In this model, just 45 validators are elected every 24 hours based on staked token amounts. Therefore, he claims that this setup makes BNB heavily centralized compared with networks like Ethereum. which has over a million validators.

Binance Influence Fuels BNB Price Prediction

He also mentioned that the asset’s integration with Binance’s exchange will also drive this prediction. Furthermore, the dominance of decentralized exchanges like PancakeSwap within the BNB Chain will contribute. Kendrick noted that this influence remains significant even as competition from other ecosystems like Solana grows.

While the network has seen fewer developers and slower expansion of use cases, the analyst believes that BNB will witness increased market interest in the future. He added that upgrades such as the recent Pascal hard fork could help improve developer engagement over time. The upcoming Maxwell upgrade in June may also contribute to this improvement.

The latest price projection adds to the string of Standard Chartered predictions. Earlier this year, Kendrick estimated that XRP would reach $12.50 by the end of 2028. The firm also revised its forecast for Ethereum (ETH), lowering the price target from $10,000 to $4,000.

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