Bnb Price Forecast: How the New Roadmap and Binance’s $500m Fund Can Impact Bnb

Key Insights

• BNB reveals a new roadmap for 2022 to become quicker and more decentralized.
• Binance launches a $500M investment fund to boost crypto and blockchain adoption.
• U.S. SEC launches an investigation against BNB.

Binance Coin (BNB) is essentially a cryptocurrency that has been a part of the Binance exchange and the broader ecosystem.

Its primary use-cases surround trading and fee payment on the exchange.

Being a part of the BNB CHain ecosystem, it is one of the world’s most popular utility tokens.

When we take a look at some of the benefits it offers, users can use BNB to pay for goods or services, even settle transaction fees, participate in exclusive token sales, and more.

When we look at its use-case on Binance specifically, users can save 25% on Spot Trading Fees, 25% on MarginTrading Fees, and 10% on Futures Trading Fees.

Many other use cases are surrounding BNB as well, and this is what has ultimately led this cryptocurrency to achieve such a high level of popularity and appeal.

BNB reveals a new roadmap for 2022, and Binance launches a $500M investment fund

BNB Chain (BNB) has unveiled a new technical roadmap, where they announced plans on how they aim to make the network a lot quicker and more decentralized by the end of 2022.

This announcement was originally made at the BNB Chain Revelation Summit.

The roadmap showcases that the network will increase decentralization with the adoption of BEP-131.

The increased number of validators within the BNB Smart Chain is anticipated as well, as a means of improving security and stability.

The BNB Beacon Chain will also make the Binance decentralized exchange (DEX) open-source by the second quarter, which will improve both transparency as well as multi-chain integration.

Furthermore, according to a blog post made by the company, Binance Labs has closed a $500,000,000 investment fund as a means of boosting blockchain, web3 as, well as value-building technologies.

The new fund is aimed at investing in projects which can expand cryptocurrency use-cases and drive the overall adoption of web3 and blockchain technologies. This fund will invest in three different stages, and these include incubation, early-stage venture, and late-stage growth.

However, not everything is perfect at Binance. As reported by Bloomberg, the U.S. Securities and Exchange Commission has launched a probe against Binance’s native cryptocurrency, Binance Coin (BNB). Specifically, the Commission is investigating Binance Holdings Ltd. for potentially breaking U.S. securities law.

Alongside this, a new report from Reuters claims that Binance has allowed more than $2.35 billion worth of criminal funds to be processed through the exchange unchecked.

Entities believed to have laundered money from Binance also include a North-Korean hacking syndicate, as well as the former largest darknet drug marketplace in the world.

Technical Indicators

At the time of writing, on June 7, 2022, the Binance Coin (BNB) cryptocurrency was trading at a value of $281.90.

Within the last 24 hours, BNB saw an increase in its trading volume by 68.09%.

With that in mind, when we take a look at the all-time high point of value surrounding the BNB cryptocurrency, we can see that it achieved a value of $686.31 on May 10, 2021.

This gives us an indication that at its all-time high, the token was trading $404.41 higher in value, or by 143.46%.

When we dive a bit deeper and go over the historical performance of the token, BNB had a 7-day low at $281.81, while its 7-day high was at $323.30.

Here, we can see a clear indication that the next resistance level that the BNB cryptocurrency needs to breach is the $300 price point, after which it can climb back up to $330 by the end of June.

Keep in mind, however, that BNB needs to avoid dipping under $270 in order to reach this goal, and if it keeps up with its current momentum, we could see a bullish run for the cryptocurrency, especially with all of the current updates and developments surrounding it.

At $281.90, BNB is a cryptocurrency that is worth taking a second look at. While the SEC investigation might worry some investors, the solid roadmap and $500 million funds will boost the overall ecosystem, which could lead to an increase in the overall appeal and value of the BNB cryptocurrency.