If you know a thing or two about crypto, you’ve surely heard about Binance. It’s a reputable exchange that also created the BNB Chain ecosystem for Web3 apps. The Celo platform might not enjoy the same popularity, but it’s an intriguing project that primarily focuses on providing payment infrastructure for mobile users.
Is it the right move to convert CELO to BNB at this point? Our guide will help you answer that question by presenting details about both platforms and their price details and forecasts!
What Is CELO?
Celo is a project that joins the crypto idea for financial activities to be available globally in a simple and efficient manner. It offers a payment infrastructure where you can send money between mobile phone numbers. Celo uses a two-coin system, with a stablecoin cUSD connected to the US dollar and a CELO token used as the network’s native coin.
It’s possible to develop decentralized apps on the Celo platform. Owners of the CELO coins can vote on potential platform changes. The network uses the PoS consensus mechanism based on the Byzantine Fault Tolerance. The maximum supply of CELO tokens is one billion, and only about half is currently in circulation.
CELO Price Prediction
Forecasts can be an important factor when assessing if a cryptocurrency is worth investing in. Whether it’s the XVG price prediction or learning more about other tokens of interest, discovering what the experts have to say can be of the essence.
CELO isn’t among the top 100 crypto tokens, but it’s close and worth checking out. It has a single token value set at around $0.5, with the project’s market cap of about $240 million. During the crypto boom in 2021, CELO was worth $10.66, so the question is if it can ever return to those heights.
It won’t happen anytime soon, according to analysts from Priceprediction.net. CELO will use 2023 to stabilize, putting its value over $0.6 until the end of the year. In 2024, the value could be anywhere from $0.8 to $1 or more. It’s far more realistic to expect that CELO will reach $2.5 in 2027, reaching its ATH by 2031.
What Is BNB?
BNB is a crypto token that’s the native coin of an ecosystem called the BNB Chain. The platform was launched by Binance with the goal of speeding up the exchange and supporting different utilities. The token was first available on the Ethereum network, but it migrated to the Build N Build (BNB) Chain later.
The network allows users to build dApps, and many payment, travel, service, and entertainment apps are present in this ecosystem. That includes HTC, Travala.com, Axie Infinity, BitTorrent, and many others. At this point, the total supply of BNB coins is about 153 million, although there’s a burning mechanism that contributes to the token’s scarcity.
BNB Price Forecast
BNB is among the most valuable coins in the crypto market, with the current value set at $238 and a market cap of around $36.5 billion. Binance is serious about supporting the project and coin, but can its value go even higher?
According to experts, yes, and the only question is which heights BNB will reach. The majority agrees that the token’s value won’t change much by the end of 2023, with only rare experts placing it at over $300 at some point. The next year is likely to bring a major improvement, with the values placed anywhere from $327 to $600 or more.
As for long-term forecasts, BNB could reach anywhere from $482.50 to $1.590.77 in 2028, and the available predictions for 2032 put it as high as $2,500. Binance is more careful in its BNB targets, and its prediction is that BNB could reach $341.56 by 2030.
CELO to BNB Swap or Not?
Celo is undoubtedly an interesting project, and it has found its way to attract crypto investors. However, there’s no doubt that BNB enjoys higher value, a better reputation, and quite possibly a larger increase in the future. It seems like investing in the BNB coin is a smart choice, but make sure you are okay with that choice. Ultimately, it’s you who should decide if any token deserves a place in your portfolio!
