BNB Could Reach $2,775 by the End of 2028, Geoffrey Kendrick of Standard Chartered's Head of Digital Assets Research Forecasts

In a new report initiating coverage of BNB Chain, Kendrick emphasized the coin's "old-school" profile, dominated by decentralized exchanges, lending protocols, and liquid staking use cases

Standard Chartered's Head of Digital Assets Research Geoffrey Kendrick predicts that BNB (CRYPTO: BNB), the native token of Binance's Layer-1 blockchain, could reach $2,775 by the end of 2028, supported by its consistent trading correlation with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

In a Monday report initiating coverage of BNB Chain, Kendrick highlights the coin's "old-school" profile, heavily skewed towards decentralized exchanges, lending protocols, and liquid staking use cases, setting it apart from the broader innovation trends seen on chains like Ethereum and Avalanche (CRYPTO: AVAX).

Despite lower developer activity, Kendrick argues that BNB's price stability and predictable behavior make it a better-suited asset class for reliable market benchmarks.

"Both the returns and volatility since May 2021 mirror that index closely, and it trades almost exactly like an unweighted basket of BTC and ETH," he adds.

At present, BNB is trading at approximately $600.

eToro to Set $5B Valuation In Nasdaq IPO, Announces Price Range For Offering

This projection of a rise to $2,775 suggests a more than fourfold increase over the next four years, although Standard Chartered anticipates this to be slower than BTC and ETH due to BNB's limited innovation and ecosystem growth.

The report notes that BNB trades "rich" by the firm's preferred valuation metric, market cap to chain GDP, which is attributed to its connection to Binance's centralized exchange and the deflationary tokenomics of BNB.

Despite having fewer developers and a slower expansion of use cases compared to other chains, Standard Chartered believes that BNB's value will remain closely tied to Binance's prominence in the crypto ecosystem, further reinforcing its utility as a sector-wide indicator.