Standard Chartered Bets On BNB Despite Risks

As the crypto ecosystem evolves amidst regulatory uncertainties and hopes of recovery, Standard Chartered surprises with an ambitious projection: BNB could climb to $2,775 by the end of 2028. This estimate, supported by Geoff Kendrick, the bank’s head of crypto research, is based on a strong correlation with the performance of Bitcoin and Ether since 2021. At a time when investors are scrutinizing signals of a new bullish phase, this institutional stance gives renewed momentum to Binance’s crypto.

A Prediction Based on BNB’s Historical Dynamics

Standard Chartered puts forward an ambitious projection : BNB could reach $2,775 by the end of 2028, compared to about $600 currently. This estimate relies on an empirical analysis of the crypto’s past performance since May 2021.

Geoff Kendrick, head of crypto research at the bank, states:

BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ether in terms of return and volatility.

In other words, its historical behavior somewhat replicates an average of the two largest cryptos in the market.

The bank identifies several key elements on May 6, 2025 that justify this projected trajectory :

• A stable statistical correlation since May 2021 : BNB moves in parallel with a BTC/ETH basket, which makes its performance somewhat predictable from a comparative perspective ;
• The price projection based on this relationship : if this dynamic holds, BNB’s price could more than quadruple by 2028 ;
• The strategic importance of Binance : “As long as Binance remains one of the largest centralized exchanges (CEX), it is unlikely that BNB’s value drivers will change anytime soon,” Kendrick affirms ;
• The market’s potential benchmark role : this structural stability could make BNB a reference asset for investors wishing to track the overall evolution of cryptos without limiting themselves to Bitcoin or Ethereum.

This analysis is therefore based on observable technical parameters and an assumption of continuity in the current market. There is no excessive speculation, just the extrapolation of a correlation observed for nearly four years. It is a cautious but quantified approach that lends credibility to this prediction.

A Concentrated Ecosystem

Beyond the price projection, Standard Chartered also emphasizes the particular nature of the BNB ecosystem. The bank points out that the BNB Chain, the crypto’s underlying infrastructure, is “used almost entirely for decentralized exchanges (DEX), lending protocols, and liquid staking”, usage cases that are certainly strategic but relatively concentrated.

It furthermore describes the platform as “more concentrated and more outdated” compared to rivals like Ethereum or Avalanche, which offer more varied ecosystems that are more open to innovation and the integration of complex applications.

This characteristic could have significant implications in the medium term. While BNB’s current stability is an asset for its valuation in the short to medium term, its lack of functional diversification could also limit its disruptive potential.

Moreover, unlike other blockchains that foster the emergence of varied use cases (decentralized AI, DePIN, ZK Rollups), the BNB Chain remains mostly confined to financial and technical use. In other words, its resilience could work against it in a context where innovation becomes the main driver of valuation.

Finally, this prediction fits within a cautious but optimistic reading of the crypto market. If BNB indeed follows its historical correlation with BTC and ETH, then its rise could appear coherent. However, this dynamic rests on a dual condition: the solidity of Binance as a central platform, and the absence of major technological breakthroughs by competitors. In this respect, the prospect of BNB reaching $2,775 by 2028 remains plausible but not guaranteed, and deserves to be closely watched by investors with discernment.