Michael GrawBanano (BAN) is a meme cryptocurrency based on the code of Nano. It offers fast and free transactions and enables many ways for users to get free Banano tokens, which helps the cryptocurrency to be more decentralized.
Banano is currently trading at less than $0.01, but what does the future of this cryptocurrency look like? In our Banano price prediction guide, we’ll explain what Banano does and what it could be worth in the future.
Banano Price Prediction Summary
Based on our research, here’s what Banano could be worth in the years ahead:
- End 2023: Adoption and recovery should increase significantly in the crypto during 2023, so we believe Banano will go to $0.012 by the end of 2023.
- End 2024: Provided that Banano pivots towards a more utility-centric direction, we can see this crypto reaching $0.015 by the end of 2024.
- End 2025: Blockchain technology is rapidly developing, and its growth will cause more demand to flow into the market and result in a BAN price of $0.027 by the end of 2025.
Banano Coin Price History
Banano was created as a meme cryptocurrency in 2018 by some of the developers of Nano. The coin was made using a hard fork of the Nano blockchain, meaning that it shares much of the underlying code. This is what allows Banano to offer fast and free transactions.
When it first launched, the Banano team airdropped BAN crypto to any Nano token holders who opted in. At the time, 1 BAN was worth just $0.00041. The price was steady until early 2021, when interest in meme coins like Dogecoin skyrocketed and Elon Musk tweeted that Dogecoin was headed to the moon.
Banano skyrocketed to an all-time high of $0.05 in May 2021, but fell back to $0.01 per BAN by the following month. Renewed interest in meme coins sent Banano up to $0.04 per BAN in October 2021, but the coin retreated back to $0.01 in January 2022.
Banano price chart
Since then, the price of Banano has largely tracked trends in the broader crypto market. The coin steadily lost value through the first few months of the year, then gained ground to $0.017 in April 2022 before falling to a low of $0.004.
Here are the key events in Banano’s price history:
- Banano launched in 2018 at a price of $0.00041
- Banano reached an all-time high of $0.05 in April 2021
- Banano fell to $0.01 by early 2022
- Banano has declined with the broader crypto market over the first half of 2022
- The retrace continued till the end of 2023, and after a minimum uptick in 2023, the token is once again trending at the low value of $0.0046.
Banano Crypto Price Prediction 2023
Going into 2023, the crypto market is likely to experience a slow but steady recovery. Investment into the crypto space during 2022 will start to pay off and investors will be more willing to take on more long term crypto investment risks as the market recovers. That could increase interest in riskier coins like Banano and increase adoption of BAN tokens.
A small but steady increase in adoption could lead to modest, but appreciable gains in BAN’s value. We predict a price of $0.012 by the end of 2023, which is a gain of 76% from today’s price.
We’ve also written a Spell Token price prediction for 2023 – 2025.
Banano Crypto Price Prediction 2024
2023 has changed the narrative for most memes, and they can’t solely bank on their marketability in order to grow in value. They need actual use cases, and so far, what Banano has presented to us is severely limited.
This approach would have a snowball effect on Banano – and now in a positive way. Early 2023 charts have shown that the Banano price will have an uptick in 2023, but 2024 may see a retrace. However, a minor uptick is also possible thanks to the community still being willing to give this asset a chance. With that in mind, we predict that Banano will be worth $0.015 by the end of 2024.
Banano Coin Price Prediction 2025-30 Prediction
As the price of Banano rises and the coin becomes more widely used, it will also become more decentralized. This is a benefit because it dilutes the voting power of Banano’s biggest token holders and makes the project more sustainable. Combined with Banano’s support for fast, fee-free transactions, this could provide an important tailwind for the coin’s value in the years ahead and make it a crypto with the most potential.
By 2025, we anticipate that Banano will be worth $0.027 – an increase of nearly 300% from today’s price.
Predicting Banano’s value to 2030 is more difficult, since it is possible that new blockchain technologies will disrupt the crypto market and displace coins like Banano. However, in the absence of major disruptions, we expect an overall increase in value for the crypto market and particularly for highly decentralized tokens like BAN.
Based on this, we predict that BAN will be worth $0.065 in 2030. This is a gain of 850% from 2022 prices.
Potential Highs & Lows of Banano Coin
Banano’s price rise is likely to be highly volatile, as is often the case for meme coins. The coin has likely already tested its lowest value in 2023 when it reached $0.004, and we believe it will be at its highest point at the end of the year at $0.008, making it one of the most volatile cryptocurrency.
In 2024, Banano’s price could be much more volatile, with the coin retesting the $0.004 low or touching its recent high of $0.018. In the years beyond 2024, we expect Banano to retest its all-time high of $0.05 per coin. We expect Banano’s lows to be higher than those during the crypto winter.
| Year | Potential Low | Average Price | Potential High |
| 2023 | $0.004 | $0.010 | $0.012 |
| 2024 | $0.009 | $0.021 | $0.051 |
| 2025 | $0.025 | $0.026 | $0.027 |
What is Banano Coin Used For?
Banano is a general-purpose cryptocurrency that has a wide range of uses. That makes it more appealing to a wide variety of potential investors, which is ultimately good for the adoption and decentralization of the coin. We’ll take a closer look at some of the key uses of Banano crypto.
Fast and Free Transactions
Banano offers fee-free transactions that can be processed in less than 2 seconds. This is thanks to the cryptocurrency’s use of Directed Acyclic Graphs (DAGs), which give each account holder their own blockchain to manage. Banano uses the same technology as Nano, which has proven to be one of the more secure and fast cryptocurrencies for sending money between people.
Banano’s low price makes it especially useful for small-dollar transactions like tipping. The Banano development team has created a wallet that specifically allows for tipping posters on Reddit with BAN, and it can be used to quickly and freely send BAN to anyone for any purpose.
Earning Free Crypto
Users can earn free BAN tokens in several ways using what Banano’s developers call ‘faucets.’ There are currently 3 faucets. One is a messaging app that gives users Banano just for sending messages. Another is a platform where users can contribute CPU power to medical research (more on that below). The third faucet offers free BAN tokens in exchange for providing CPU power to proof of work blockchains.
Earning free Banano is useful because users can convert their BAN tokens to any other cryptocurrency through a crypto exchange. They can also hold BAN or send it as tips.
Supporting Medical Research
Banano has partnered with [email protected], a medical research platform that uses distributed computing power to determine how proteins fold. This research provides important insights into diseases like Alzheimer’s, and Banano is one of the top 10 community partners for [email protected]
In return for contributing computing power, users receive free Banano. In the future, it’s possible that Banano could partner with more research platforms or nonprofits to direct its community’s unused computing power.
Decentralized Finance
Banano offers a wrapped version of the BAN token that can be used for decentralized finance (DeFi) applications on blockchains like Polygon and Fantom. Banano itself does not offer a crypto staking platform at this time, but the ability to wrap BAN means that users can take their Banano tokens to existing DeFi apps.
What Drives the Price of Banano?
The price of Banano is largely driven by the interest in meme coins generally. The price of Banano exploded when Dogecoin and Shiba Inu were skyrocketing thanks to the attention of Elon Musk. Although Banano is not based on the doge meme, its fortunes are still tied to those of doge-themed coins.
More broadly, Banano’s price is driven by supply and demand. The coin has a maximum supply of 2 billion tokens, of which around 1 billion are currently in circulation.
For now, the price is kept low in part thanks to the fact that Banano is free to obtain through the platform’s faucets. As long as Banano is free to obtain, the coin won’t be worth much. However, free distribution is good for Banano in the long run because it gets the BAN coin in the hands of more people. The more decentralized Banano is, the more stable the platform and cryptocurrency will be and that will increase investors’ confidence in the coin in the years ahead.
We’ve also written a guide about Doge Dash. Check out our Doge Dash price prediction for 2023 – 2025.
Is Banano the Best Coin to Buy in 2023?
While there’s a lot to like about Banano, it’s not our top pick as the best cryptocurrency to buy in 2023. That title belongs to Love Hate Inu, a unique memecoin project that leverages the community aspect of the memecoin space to bring in a unique utility.
Love Hate Inu is a crypto DAO project that aims to create a decentralized global voting platform on which users can participate in online surveys and get rewarded for it. Voting takes the form of staking LHINU tokens then being rewarded with voters and also rewards in the form of more tokens.
That staking mechanic ensures that votes are conducted fairly, and in order to ensure that whales don’t control a particular survey, the staking period is another factor that adds more weight to the voting power. This unique memecoin also has great aesthetics and allows users to create their own online polls.
Love Hate Inu is currently available as a presale – which will allow users to get in early at a price of $0.000000085. The listing price of this token is set at $0.00000145, meaning that early movers will make a profit of 70.5% just from the presale rounds.
Check out the official site at the link below to learn more about this high potential alternative to Banano.
Conclusion
Banano is a promising meme coin that offers fast and free transactions. In the bull case, an optimistic Banano price prediction could be $0.012 by the end of 2023, and $0.027 by 2025. However many meme coins fail in the long term.
While BAN is interesting, we think LHINU is the best new crypto to buy in 2023 in the meme coin niche, with its unique utility and vote to earn mechanics. Check out the presale to invest in LHINU today at a discounted price.
Love Hate Inu - Next Big Meme Coin
- First Web3 Vote to Earn Platform
- Vote on Current Topics and Earn $LHINU Tokens
- Secure, Reliable and Anonymous Voting
- Rug Pull Proof - 90% of Tokens Available in Presale
- Accumulate Voting Power by Staking $LHINU Tokens
FAQs
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This article was written for Business 2 Community by Michael Graw.
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