Binance’s BNB token seems to be recovering from the recent market correction. The asset is up by 0.8% in the daily charts, 2.7% in the weekly charts, 5.8% in the 14-day charts, and 133.5% since January 2024. Despite the recovery, BNB is still down by 3.8% over the previous month.
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Why Is BNB Up Today?
BNB’s latest rally could be due to a general market resurgence. The cryptocurrency market seems to be regaining lost momentum. Market participants may be betting on a positive environment for the crypto industry after President-elect Donald Trump assumes office after Jan. 20, 2025. Investors may be anticipating a market-wide rally once Trump comes to power.
The crypto market faced a significant price dip last month after inflation in the US rose to 2.7%. The Fed took a hawkish turn with its monetary policy. The central bank announced only two interest rate cuts in 2025 instead of three. Trump’s entry into the White House may reignite investor confidence, and BNB may enter another rally.
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New All-Time High For The 5th-Largest Crypto?
According to CoinCodex, Binance’s BNB will continue to rally over the next few months. The platform anticipates the asset to breach the $1000 mark this year. According to CoinCodex’s estimates, BNB could trade at $1075.56 on Apr. 4, 2025. Hitting $1075.56 from current price levels will entail a rally of about 50.5%.
Changelly analysts, on the other hand, predict BNB will face a correction in January 2025 before entering a rally. The platform anticipates BNB to fall to $576.96 in January 2025. Falling to $576.96 from current price levels will entail a correction of about 19.2%. The platform also anticipates BNB to trade at a potential maximum price of $697.79 in April 2025.
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