BNB (Binance Coin) Price Analysis: Comparison with Kaspa and Ethereum

BNB, also known as Binance Coin, is the native cryptocurrency of BSC (Binance Smart Chain).

Initially, it was the Ethereum token used in the Binance ICO in 2017, and later it became the native cryptocurrency first of the BNB chain and then of BSC as well.

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It’s a cryptocurrency worth keeping a close eye on as it has the world’s largest cryptocurrency exchange behind it. This also means that sometimes it moves slightly differently than everything else in the market.

For example, while BNB has recorded an impressive +87% since the start of the year, BTC (Bitcoin) is currently at +56%. Furthermore, another difference is that BTC has already reached an all-time high in 2024, while BNB’s highest price is still $690 in January 2021.

Moreover, this peak was not recorded in September of 2020, but in September, which is a clear difference compared to most other cryptocurrencies.

The current price of around $580 is still only 15% below its peak in March 2021, so it’s possible that BNB could hit a new all-time high in 2024.?

The most surprising thing, however, was something else.?

BNB is one of the cryptocurrencies that only ended its bear market in September 2023, while many others, including Bitcoin and Ethereum, ended their bear market in September of the same year.

In fact, just over five months ago, its price was just over $200, in line with the 2022 bottom.?

Starting at the end of the month, it started rising and has reached an impressive +182% so far, reaching a peak of $645 last week. It was one of the biggest rallies for the world’s major cryptocurrencies in recent years.?

Furthermore, the crash in 2022 was also related to doubts about Binance’s stability, while the continuation of the bear market in 2023 was due to legal issues, especially with the US authorities.

With co-founder Changpeng Zhao stepping down as CEO and appointing new CEO Richard Teng, a new journey has begun and is already bearing fruit.

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