🚗 #GateSquareCommunityChallenge# Round 1 — Who Will Be The First To The Moon?
Brain challenge, guess and win rewards!
5 lucky users with the correct answers will share $50 GT! 💰
Join:
1️⃣ Follow Gate_Square
2️⃣ Like this post
3️⃣ Drop your answer in the comments
📅 Ends at 16:00, Sep 17 (UTC)
BNB price forecast: The target for Binance Coin is 1000 dollars, but HYPER exceeds 11 million dollars
After more than a year of sideways movement, the BNB price prediction is finally gaining momentum as Binance Coin has reached a new all-time high.
Since March 2024, Binance Coin has consolidated, but last month's optimistic momentum pushed it to a new all-time high of $810. While the broader market is experiencing a downturn, BNB has maintained stability, reaching a new ATH of $883.86.
This rise is based on strong foundations, such as institutional adoption and the growing utility of Binance Coin. Thanks to this strong momentum, BNB's market capitalization has increased to 120 billion dollars, making it the fifth largest cryptocurrency.
As Binance Coin rises in the rankings, another utility coin – Bitcoin Hyper – comes into the spotlight, distinguished by its revolutionary Bitcoin infrastructure. Due to strong investor demand, the HYPER presale has surpassed the 11 million dollar mark, showcasing its explosive growth potential.
Analysts' Latest BNB Price Predictions
With Binance Coin reaching record highs, the market is dominated by analysts' forecasts. Currently, BNB tokens are trading at $865, having increased by 3.36% in the last 24 hours. Although there may be fluctuations in the short term, the first target remains $1,000, which is approximately 15% more than the current price.
Notable technical analyst Dzhavons Marks recently announced that BNB has completed a bullish divergence pattern, and a breakout could drive the price to a target level of $1085.7. He reiterated his analysis last week, informing his followers once again that a further 30% increase could be expected.
Meanwhile, another cryptocurrency analyst Lenaerts Snaiders believes that BNB could experience a pullback to the support levels of $806 or $770 before the next rise. He also mentioned that if momentum returns after the pullback, the cryptocurrency could soon reach an ATH.
Despite the correction in the cryptocurrency market, BNB remains stable; however, experts believe that traders should prepare for potential short-term volatility.
Institutional accumulation in BNB coin will accelerate
BNB follows a similar acceptance model to Bitcoin, its price reaching a new all-time high and expanding its corporate acceptance.
Last week, BNC, BNB Network Company, became the largest corporate holder of BNB by purchasing 200,000 BNB tokens worth 160 million dollars.
The acquisition took place after a private placement of 500 million dollars led by 10X Capital in collaboration with YZi Labs, funding a treasury strategy that now makes BNB the company's main reserve asset.
According to Binance founder CZ, at least 30 companies plan to accumulate BNB coins as state treasury companies, and several companies have already added this asset to their portfolio, institutional pressure indicates an increase.
Another driver of demand is the BNB supply reduction mechanism, which does not add new tokens but rather removes them. Over the past seven years, it has consistently destroyed 31% of the total token supply. This steady reduction decreases the BNB supply, which helps to raise the price forecast for BNB.
As the demand for large-cap tokens like BNB increases, investors balance them with the rapidly growing small-cap tokens. One of the standout representatives of this season is Bitcoin Hyper, which is experiencing enormous demand.
Bitcoin Hyper: early stage infrastructure project
Bitcoin Hyper is yet another top choice asset that could benefit from the current market correction. The meme coin/Layer 2 project has already gained investor trust, attracting 11 million dollars in its current presale.
The project introduces the first revolutionary token launch platform on the Bitcoin blockchain. BTC liquidity exceeds 2 trillion dollars, but launching any token has faced technical difficulties, as it is slow and has scalability issues. However, HYPER's revolutionary Layer 2 increases Bitcoin's TPS to thousands, creating a Solana-like ecosystem for Bitcoin.
Why Bitcoin Hyper could be the next big coin:
For investors looking for the next layer 2 growth opportunities, Bitcoin Hyper revolutionizes Bitcoin utility and creates a massive market from its $2 trillion of unused capital, becoming the first layer 2 ICO to do so.
Early users are continuously accumulating HYPER tokens before their listing on major exchanges.