![]() ![]() There is a long journey ahead indeed, but let’s look at the journey so far.įrom paying Binance trading fees through to sending tokens on BSC, the amount of BNB transactions has continuously ris en. To reach ETH’s position, BNB needs to multiply its market cap five times to reach BTC, it needs to grow twenty times. It follows Ethereum in second place and Bitcoin in first. In this article, we'll explore BNB’s rise to the top, its utility and use cases, and a comparison of BNB to other top-ranking cryptocurrencies.īNB holds the third-largest cryptocurrency position by market cap at the time of writing at over $42 billion (USD). The initial price during the ICO was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB, which, at the time, equaled roughly $0.15 per 1 BNB. Paying transaction fees in BNB offers users a significant discount. BNB was immediately usable as payment for transaction fees on the new cryptocurrency exchange,, launched just 11 days after the ICO. It initially found its way to the crypto market through an Initial Coin Offering (ICO) taking place from June 26 to July 3, 2017. On Bybit, you can trade BNB as a USDT Spot pair ( BNB/USDT ), USDT Perpetual ( BNBUSDT ) or USDC Perpetual ( BNB-PERP ).BNB launched just over three years ago. You can buy BNB from any top crypto exchange, including Bybit. These include Trust Wallet, MetaMask, Atomic Wallet, Guarda and many others. ![]() Read more: What Is Binance Coin (BNB) and Is It Worth Investing In? How to Store BNBīNB can be stored in most wallets compatible with BNB Smart Chain and Ethereum. The founder of BNB is Changpeng Zhao (commonly called CZ), who is also the founder and CEO of Binance. The current circulating supply of BNB is 163,276,974 coins. BNB has an Auto-Burn system designed to reduce its total supply to 100 million. However, the total supply has been reduced due to various BNB token burn events. Half of these (100 million coins) were released to the public through the ICO. Utility token for games and DApps on BNB ChainĪt launch, BNB had a total supply of 200 million coins. What Is BNB Used For?Īs one of the most utility-enabled cryptocurrencies in the space, BNB has many use cases, which include: In mid-June 2022, BNB broke that critical support level and dropped to $197, but has since recovered and is back above $200. From there, the price gradually declined to find support around $261.īNB continued to drop back to around $261 after slight pumps in the rest of 2021 and most of 2022. BNB’s price spiked from $43.23 in mid-January 2021, breaking through the $100 level in the second week of February to hit a high of $338.07 that month.Īfter a slight correction, the phenomenal price hike continued and climaxed at its highest price to date of $686.31 on May 10, 2021. It was highly bullish for the first half of that year. It wasn’t until January 2021 that Binance Coin’s price began to pump. From there, BNB traded sideways for the rest of 2019 and all of 2020. The bullish momentum continued in the following months, hitting its highest price that year of $38.92 on June 22, 2019. However, BNB’s price recovered as the Binance Chain mainnet was launched in April of that year. By the end of 2018, BNB was trading below $10, a trend that continued until March 2019. It continued with the same bullish momentum for most of that month before a gradual decline to a low of $4.58 at the beginning of February.īy March, BNB had returned to its double-digit level, which it held until October of that year. From the start, BNB price had traction and attained double digits by the end of the year at $10.48 on December 27.īNB opened 2018 on a high note with a spike to $24.37 in early January. Binance Coin (BNB) Priceīinance Coin was launched through an initial coin offering (ICO) held between June 26 and Jat a token price of $0.15. ![]() While BNB is associated with Binance, holding BNB doesn’t entitle one to the profits generated by the company and doesn’t represent one’s investment share in it. Therefore, BNB is available in BEP-2, BEP-20 and ERC-20 token formats. ![]() Originally built on Ethereum as an ERC-20 token, BNB was later swapped with BEP-2 tokens at a ratio of 1:1 following the launch of Binance Chain (now BNB Beacon Chain) on April 23, 2019.įurther, the launch of Binance Smart Chain (now BNB Smart Chain) allowed BNB to exist in BEP-20 format. It's also the cryptocurrency powering the BNB Chain ecosystem, which includes Binance Launchpad, Binance DEX and BNB DApps. BNB is the native coin of BNB Smart Chain and BNB Beacon Chain. ![]()
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