Analysts Predict Trading Price Of Binance Coin On December 31, 2022

For over two weeks, the cryptocurrency industry continued facing a downtrend. Its demise came just because of the collapse of the cryptocurrency exchange based in the United States, the FTX exchange.

Finally, the impact of the FTX collapse has started to fade and things seem to be recovering for the cryptocurrency industry.

Binance Coin (BNB) is Recovering

Just like the rest of the cryptocurrency industry, BNB is also experiencing a recovery. It is also moving in the upward direction and things are now looking fine for the digital asset.

BNB coin is a decentralized finance token that is the native token running on the ecosystem of the BNB chain. It is the native token of Binance, which is the largest crypto exchange in the entire world.

It is quite surprising to see that among all the major cryptocurrencies, BNB has recorded significant gains. This is a remarkable performance demonstrated by BNB in the recent trading sessions.

BNB is yet to Bring in More Investors

Although BNB has demonstrated a strong performance in recent trading sessions, still, not many bullish investors have joined the cause. It is expected that soon, more investors will be joining the trend.

Over time, as the investors see the price of BNB moving in the upward direction, they will continue regaining their confidence. With their confidence level rising, the trading price of BNB would begin surging.

The data shared by CoinMarketCap shows that according to analysts, the trading price of BNB may hit a low of $289.4.

The analysts predict that BNB would end up at this figure by the end of 2022. The information has been shared by the research team at CoinMarketCap on November 23.

The CoinMarketCap has shared information and results gathered from the voting among the investors showing what they think of BNB’s future.

Most analysts predicted that the trading price of BNB would lose its value by the end of 2022. A total of 768 votes have been passed that show that its value may lose its strength by the end of 2022.

According to the analysts, the trading price of BNB is currently trading at $295.66. However, by the end of the year 2022, BNB would experience a major decline, which may pull BNB even lower.

User Activity is rising

Despite the market downfall, the level of user activity is constantly rising on the BNB network. At the moment, the daily user activity is as high as 1.27 million active users.

This means that the BNB Chain is the most adopted network when it comes to having the most active users. The Polygon and the Fantom networks are the ones following BNB Chain with 834,000 and 457,000 active users.

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