Standard Chartered Predicts BNB Could Reach $2800 by 2028, Drawing Parallels to Bitcoin and Ethereum's Performance

The prediction is based on a stable correlation with BTC and ETH, but market volatility leaves room for doubt.

Standard Chartered is known for its bold predictions, and this time, the bank has set a massive price target for BNB, the world's fifth-largest cryptocurrency by market capitalization.

According to the bank's analysis, BNB could hit a staggering $2,800 by 2028.

This prediction is based on a stable correlation that has been observed between BNB, BTC, and ETH since May 2021. Throughout this period, all three cryptocurrencies have moved almost in lockstep with one another.

"Since May 2021, there has been a strong correlation between the price performance of BNB, Bitcoin, and Ethereum, with all three cryptocurrencies moving almost in lockstep with one another," Standard Chartered said.

"This correlation is particularly evident when comparing the percentage changes in the coin prices over periods of three to six months. This consistent pattern provides a basis for predicting BNB's future price movements."

However, it's important to note that the crypto market is known for its volatility, and there is no guarantee that this correlation will continue in the coming years.

"The crypto market is renowned for its volatility, which could introduce uncertainty into the prediction. However, the stable correlation observed between BNB, BTC, and ETH provides a unique perspective on the potential price trajectory of BNB."

Moreover, the upcoming BNB ETF filing by VanEck could further boost BNB's adoption and price potential.

"The recent filing by VanEck for a BNB spot ETF is a significant step in expanding institutional access to crypto products. As the first-ever BNB ETF, its approval could broaden the participation in the BNB ecosystem and contribute to the coin's price gains."

This ETF would allow institutional investors to gain exposure to BNB in a more regulated and familiar format, which could lead to increased demand for the coin.

"This ETF would provide a convenient and regulated avenue for institutional investors to allocate capital to BNB, thereby increasing institutional involvement in the coin and potentially driving up its price."

"A deeper level of institutional involvement could also foster greater adoption of the BNB ecosystem, ultimately benefiting the coin's long-term value."

However, Standard Chartered's prediction is a long-term one, and there are many factors that could affect BNB's price in the short term.

At present, BNB is trading at $604.8, while Bitcoin is at $71,126.8 and Ethereum is at $2,019.7.