Makati City, Metropolitan Manila Area Mar 9, 2025 (Issuewire.com) - Orion Depp Research has reissued its original Binance (BNB) investment thesis, highlighting its early prediction of Binance’s market dominance. Orion Depp, a leading institutional cryptocurrency VC fund manager and founder of Orion Research, has made publicly available his original Binance Coin (BNB) research report, first released in February 2018 when BNB was trading below $10. As one of the first U.S.-based crypto research analysts to cover alternative cryptocurrencies, Orion's research played a crucial role in legitimizing altcoins as an asset class among institutional investors and buy-side mutual funds.
Originally published when Binance Coin ($BNB) was valued at $9.85, the report projected a price target of $100, citing Binance’s innovative tokenomics, including buybacks and burns, profitability, and anticipated catalysts. At a time when in-depth analyses of altcoins were rare—before the widespread influence of crypto Twitter—the report helped BNB gain recognition as a leading altcoin and spurred institutional interest in digital assets beyond Bitcoin and Ethereum.
“When we first analyzed Binance BNB, the crypto market was primarily driven by Bitcoin and Ethereum,” said Orion Depp. “Identifying potential in an emerging altcoin like BNB was considered high-risk, but I saw the vision behind CZ’s strategy and Binance’s ecosystem. Today, BNB has grown into one of the most reputable cryptocurrencies, validating our early predictions.”
In 2018, the cryptocurrency industry was still in its early stages, and altcoins lacked the credibility of more established digital assets. Orion Depp was among the first traditional sell-side equity research analysts to provide formal coverage on alternative cryptocurrencies, pioneering the application of traditional equity valuation models to the crypto market. His approach integrated fundamental research, comparative valuation (COMPS), and key catalyst identification.
Beyond Binance Coin, Orion Depp later expanded his research coverage to other significant projects such as Zcash (ZEC), Decred (DCR), Ontology (ONT), and VeChain (VET). In 2021, he co-founded Master Ventures Management (MVIM), a crypto-focused venture capital firm investing in blockchain-based startups. Orion has also served as a strategic advisor to over 20 blockchain initiatives across major ecosystems like Solana, SUI, and Ethereum.
The decision to revisit this original research aligns with a renewed wave of institutional interest in cryptocurrency markets. “This report underscores the importance of fundamental analysis when evaluating digital assets, just as in traditional equity markets,” Orion Depp stated. “The same research methods used to analyze BNB in 2018 remain relevant today and offer valuable insights for navigating the evolving crypto landscape.”
As part of a broader initiative, Orion Research is relaunching its platform to provide high-quality institutional-grade analysis for investors seeking deeper insights into the cryptocurrency sector. The research platform will deliver event-driven analysis, detailed research insights tailored for sophisticated investors, and broad sector coverage spanning Layer 1 protocols, decentralized finance (DeFi), AI-driven projects, and blockchain-based gaming. The full Binance Coin ($BNB) research report is now publicly accessible on Orion Depp’s Medium page. Orion Research currently provides analysis on 14 cryptocurrencies across multiple sectors, including Aptos ($APT), Bitcoin ($BTC), Ethereum ($ETH), Solana ($SOL), ChainGPT ($CGPT), Genopets ($GENE), Sui ($SUI), Algorand ($ALGO), Hedera ($HBAR), Stellar ($XLM), Ripple ($XRP), Dogecoin ($DOGE), Toncoin ($TON), and Movement Labs ($MOVE). New research reports will be released bi-monthly on Orion Depp’s X (formerly Twitter) and Medium channels, focusing on major market drivers, ecosystem advancements, and upcoming product launches.
Orion Depp is a prominent cryptocurrency VC fund manager, research analyst, and blockchain project advisor specializing in crypto capital markets. He co-founded and formerly led Master Ventures Investment Management, a top-tier crypto VC firm, and has advised more than 20 blockchain projects across ecosystems like Solana, SUI, and Ethereum. His expertise spans tokenomics, fundraising, and securing exchange listings on platforms such as Binance and Coinbase. A former management consultant at Bain & Co. and an equity analyst at a global top-10 hedge fund, Orion holds advanced finance degrees from The Wharton School and USC. He is currently ranked as the #6 crypto influencer on Fanadise’s CryptoRank.
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