Standard Chartered's Astonishing Prediction: BNB to Soar 100% Before Year-End! How Credible Is It?

TradingKey - BNB has shown weak performance over the past month. It has only fluctuated around $600. However, there are two potential positive factors that could drive its price up in the future.

Since the U.S. President announced a delay in tariffs on April 9, Bitcoin (BTC)  has been on a steady rise. It has increased by 25% and is nearing the $100,000 mark again. In contrast, Binance Coin(BNB) has remained stagnant, hovering around $600 with minimal price movement.

BTC and BNB price fluctuations over the past year, source: CoinMarketCap.

Despite BNB's recent struggles, Standard Chartered remains bullish. They predict BNB could double by the end of the year, reaching $1,275. But how likely is this?

At the end of April, Binance founder Changpeng Zhao revealed that they are consulting multiple countries on establishing cryptocurrency reserves. He suggested that countries like Kyrgyzstan include both BNB and BTC in their strategies. Additionally, VanEck has submitted a spot ETF application for BNB.

These two developments are significant. They could greatly increase the demand for BNB. If approved or adopted, it’s not impossible for BNB’s price to double.