Native token of leading cryptocurrency exchange Binance BNBcontinues to be on the agenda. The altcoin, traded at $328, has a market cap of $51,181,033.
BNB rallied after March lows and remained stable around $320-330 in April. Will the altcoin be able to make the expected increase in May following the April quarterly burn? Here are the details.
BNB Price Forecast for May 2023
April was a very positive month for the altcoin market, especially for meme coins. Investors expect May to have a similar outlook.
According to the cryptocurrency experts at Changelly Binance Coin It will spend a significant part of May above $330. Forecasts are for the price to go up to $ 353.53. However, a pullback towards the $320.35 levels is also possible. As a matter of fact, May is expected to be generally positive.
BNB’s burning in April failed to produce the expected effect. The main reason for this was that the circulating supply was higher than expected. More than 2 million tokens were burned in April, and the price quickly soared to $349. Although a similar rise is possible in May, there will not be news of a burning like in April. For this reason, it is more possible to have a steady rise instead of sudden rises.
You can follow the current price action here.