Crypto community with 83% historical accuracy sets BNB price for May 31, 2022

As the price of Binance’s native token (BNB) records a massive spike on May 5 in response to French financial regulators approving Binance and the cryptocurrency exchange committing $500 million to Elon Musk’s Twitter takeover, the community has projected it would continue ascending.

Indeed, the community of voters at CoinMarketCap has estimated, with a historical accuracy rate of 83% and 4,817 votes, that the largest crypto exchange’s digital currency would trade at an average of $423.99 by the end of May 2022.

Specifically, the forecast price indicates a $14.55 or 3.55% increase from the decentralized finance (DeFi) asset’s current value of $409.44. 

BNB May price prediction. Source: CoinMarketCap

Meanwhile, the votes from 2,187 community members for the end of June have set a tad higher growth goal than May’s – estimating that the coin would trade at $425.45 on June 30, which is a $16.01 or 3.91% increase on the current price.

Based on the performance of its previous projections, the crypto community has historically anticipated the price of BNB with an accuracy rate of 83.06%.

BNB price estimate historical accuracy. Source: CoinMarketCap

Elsewhere, in early March, Finbold had reported on experts’ predictions that the price of BNB could continue to grow steadily over the next ten years, even surpassing $2,400 by 2030. As for the nearer future, these experts have said that the token would trade at around $527 by the end of 2022.

BNB price analysis

At press time, Binance Coin traded at $409.56, which demonstrates a 4.64% increase on the day and a 1.6% gain compared to seven days ago. 

BNB seven-day price. Source: CoinMarketCap

It will be interesting to observe how everything will play out for BNB and whether the experts’ and community’s expectations of its future price advance will indeed come true.

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