The cryptocurrency market has been extremely volatile over the past month. Several assets were seen losing all the gains they pocketed during the beginning of the year. Prominent cryptocurrency exchange Binance has also made headlines throughout the last few days for an array of reasons. Amidst this, the platform’s native cryptocurrency, Binance Coin or BNB, was seen struggling. Will the asset carry this trend onto the coming month or witness a change is the real question?
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BNB’s Current Market
During the time of writing, BNB was trading at $648.66. The asset did not witness a major drop or rise in its price over the past 24 hours. It should be noted that the altcoin recorded a massive downfall of over 8% throughout the week.
The chances of the asset hitting $1,000 wasn’t too bleak. BNB hit an all-time high of $793.35 during the final month of 2024. Currently, the asset is trading 18% below this peak. While the immediate goal for BNB is to reach $800, ambitious investors are betting on a bigger milestone of $1,000.
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Historic data highlights that March has been a bullish month for Binance’s cryptocurrency. According to data from CryptoRank, the average monthly returns on BNB in the month of March is at a positive 21.4%. Last year in March, the asset surged by a staggering 51.8%.
$1,000 An Attainable Goal?
Data from CoinCodex revealed that BNB investors could be looking at a new peak in March 2025. With a potential change of 29.44% from current rates, analysts believe that the price of BNB will rise in March. The asset may reach a high of $1,239.68 and a low of $553.66. This comes with an average of $802.22. The potential return on investment (ROI) is 90.98%, indicating a profitable opportunity for long traders.
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