BNB price prediction: will the UK relaunch and 200M GameFi fund push its value higher?

By: Milko Trajcevski
Milko Trajcevski
Milko leverages his passion for cryptocurrencies and teaches investors something new each day. During his spare time, he loves… read more.
on Dec 6, 2021
  • The BNB token has seen an increase in trading volume by 36% in the last 24 hours.
  • Binance Smart Chain and Animoca Brands formed a $200M fund for GameFi projects.
  • Binance will relaunch in the UK in 6 to 12 months, according to their CEO.

Binance BNB/USD is by far one of the largest cryptocurrency exchanges on a global scale based on the daily trading volume.

Binance Coin is the cryptocurrency that is issued by the Binance exchange and trades with the symbol BNB.

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The Binance Chain is Binance’s blockchain network that launched in April of 2019, two years after the company was founded.

UK relaunch and 200 million GameFi fund as a catalyst for growth

On October 23, we saw how the Binance Smart Chain developer came up with a way to make BNB even more of a deflationary token.

On December 6, Binance Smart Chain (BSC) and Animoca Brands announced that they would launch a $200 million investment program with the goal of incubating any early cryptocurrency-related gaming projects that are built on top of the BSC.

As one of the largest blockchain ecosystems, BSC will invest from its $1 billion accelerator arm for decentralized finance (DeFi), Non-Fungible tokens (NFTs), and GameFi.

Here, we can see that there is a push towards further development on the Binance Smart Chain.

Alongside all of this, Binance’s CEO, Changpeng Zhao, also announced that they would launch an FCA-compliant U.K. entity within the span of the next 6 to 12 months. Additionally, Binance has also been on a PR push in the last few months welcoming regulators.

All of this has the potential to make the Binance Smart Chain grow, and as such, increase the value of the BNB token.

Should you buy Binance Coin (BNB)?

On December 6, Binance Coin (BNB) had a value of $552.

To get a better perspective as to exactly what kind of value point this is for the token, we will go over its all-time high value as well as its performance in November.

The ATH value point of BNB was at $686, which occurred on May 10. Here, we can see that the token was higher in value by $134 or by 24% at its all-time high-value point.

In terms of the performance in November, on November 1, the token had its lowest point of value at $514.

Its highest value point was on November 7, when it climbed to $668, which was the highest value point of the month. Here we can see that from November 1 to November 7, the token climbed by $154 in value, an increase of 30%.

However, from November 7 to December 6, we can see that the token decreased in value by $116 or by 17%.

With all of the aforementioned efforts and PR as well as BSC push, the token has the potential to reach $600 by the end of December, making it a solid buy.

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