Standard Chartered sees BNB hitting $2,775 by 2028, driven by exchange utility, deflationary supply, and market correlation with BTC and ETH.
Background
- Standard Chartered has intiated formal research coverage on Binance’s BNB token, forecasting a significant price increase from its current level of around $600 to $2,775 by the end of 2028.
- The projection represents more than a 360% gain, aligning BNB’s future trajectory with the performance trends of Bitcoin and Ethereum.
- The report, authored by Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, outlines BNB’s tight price correlation with BTC and ETH since mid-2021 and anticipates that relationship to persist.
- BNB Chain, Binance’s Layer 1 blockchain, currently operates under a “proof of staked authority” model with only 45 validators elected daily, a contrast to Ethereum’s decentralized validator network, which exceeds 1 million nodes.
Why should you pay attention?
- A $2,775 price target from a global bank lends institutional weight to BNB’s long-term viability, despite concerns over its centralization.
- The forecast comes amid increasing scrutiny and competition from more decentralized blockchains, highlighting BNB’s resilience through strong exchange-linked utility and user incentives.
- With a deflationary tokenomics structure and continued token burns, BNB offers a unique supply-side appeal that could support upward price movement even amid ecosystem stagnation.
Who said what?
- Geoffrey Kendrick, Standard Chartered:
“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum… We expect this relationship to continue… driving BNB’s price to $2,775 by end-2028.”
- Kendrick described BNB as “benchmark-like,” adding that its deflationary model, Binance integration, and consistent user demand support its valuation, even if developer activity on BNB Chain lags behind peers.
- He acknowledged that BNB Chain’s limited validator count and underwhelming post-DeFi boom growth could limit its appeal but said upcoming upgrades, such as June’s Maxwell update, could help turn that around.
Zooming out
- Kendrick’s bullish projection adds to a series of optimistic crypto forecasts from Standard Chartered, including a $500K Bitcoin prediction by 2028 and a tenfold increase for Avalanche’s AVAX.
- The BNB prediction highlights the role of exchange-linked tokens in crypto’s evolving market structure and reflects a growing institutional appetite for assessing token valuations beyond BTC and ETH.
- As Binance continues to dominate spot trading volumes globally, BNB’s performance remains closely tied to the platform’s reach, making it a unique hybrid between a Layer 1 token and an exchange reward mechanism.
- Whether BNB hits its $2,775 target may depend on Binance’s continued dominance, the success of its upcoming technical upgrades, and broader market support for centralized-but-functional blockchains.
