Standard Chartered Predicts 360% Surge in BNB Price by 2028

Standard Chartered, a global financial institution, has projected a significant surge in the price of BNB, the utility token of the BNB Chain ecosystem, over the next four years. According to their outlook, BNB is expected to rise 360% from its current market price of around $604 to $2,775 by 2028. This projection is based on a steady and intentional price increase, with Geoff Kendrick, Standard Chartered’s head of digital asset research, predicting a rally to $1,275 this year, followed by $1,755 in 2026, $2,225 in 2027, and finally trading near $2,800 in 2028.

Despite facing less traction compared to other cryptocurrencies, BNB remains a significant player in the global crypto market, currently ranking as the fifth-largest cryptocurrency by market cap with a valuation of $84.5 billion. Kendrick attributes the expected price uptrend to BNB’s correlation with Bitcoin and Ethereum, noting that since May 2021, BNB has closely mirrored the returns and volatility of these two largest cryptocurrencies. This correlation is expected to continue, driving BNB’s price to new highs as long as Bitcoin and Ethereum appreciate.

Standard Chartered had previously forecasted that Bitcoin would reach $500,000 and Ethereum $7,500 by 2028, further supporting the bullish outlook for BNB. However, Kendrick also highlighted several challenges facing BNB, describing it as an outdated token from the 2021 DeFi boom and a centralized Ethereum backed by Binance. The BNB Chain ecosystem uses a proof of staked authority (PoSA) consensus mechanism, which changes its set of 45 validators every 24 hours, contributing to its centralized nature. Additionally, Binance’s central control and lack of developer traction pose further obstacles.

Despite these challenges, BNB’s ties with the largest crypto exchange by trading volume and its deflationary model have kept it relevant. Its decentralized exchange presence, particularly through PancakeSwap’s sustained user influx, has also ensured BNB’s continued relevance. Kendrick noted that with Binance’s influence and BNB’s sustained correlation with Bitcoin and Ethereum, BNB could serve as a benchmark asset for gaining exposure to the broader cryptocurrency market. This outlook suggests that investors may find value in BNB as a means to capitalize on the broader trends in the crypto market, particularly as Bitcoin and Ethereum continue to appreciate.