Standard Chartered Says BNB Price Could Top $2,775 as VanEck Files for ETF

In a research note out on Tuesday, the British banking giant’s head of digital, Geoff Kendrick, said:

“BNB has traded almost exactly in line with an unweighted basket of bitcoin and ether since May 2021 in terms of both returns and volatility.”

That’s good news for the Binance exchange and smart chain token. Bitcoin’s price has eclipsed $100,000 again in May, which is typically followed by a substantial increase in some larger-cap altcoins, such as BNB.

BNB Forward Price Growth Fundamentals Strong

Moreover, both BTC and ETH are going in some measure into the US digital asset stockpile planned by the current administration.

The decrease in available supplies to the market and the confidence of the US government will almost certainly drive these two BNB competitors higher and will likely drag Binance’s coin, as well as the rest of the market.

“BNB’s value drivers are unlikely to change anytime soon,” Kendrick added.

The primary value drivers for the BNB token are its extensive, highly active, and deeply liquid ecosystem. The Binance exchange is the most active in the world in terms of daily volume. BNB tokens give users discounts on trading fees.

Furthermore, BNB can be used as the native base layer token for the Binance Smart Chain, a smart contract blockchain like Ethereum and Solana.

VanEck Files For First BNB ETF Application

https://twitter.com/Eljaboom/status/1919341133831819728?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

Professional money managers and advisors can’t really take projections like this very seriously from anonymous X accounts, even if they provide some semblance of analysis for their often highly exaggerated claims.

But, coming from Standard Chartered, that forecast for a 336% ROI by 2028 over May BNB prices is impressive and credible. It wouldn’t be the first time BNB has delivered such performance.

Now, VanEck, one of the Bitcoin ETF issuers, just applied in May to be the first BNB ETF issuer in New York. That should give another primary value driver if approved to keep BNB price growth in line with BTC and ETH as StanChart points out it’s been.

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