The coin witnessed a boost in its price towards the end of 2017 and the beginning of 2018 as part of the market-wide bull run, today referred to as the 2017-18 cryptocurrency bubble. Binance Coin Timelineīinance Coin is launched by Binance on the Ethereum chain as part of its Initial Coin Offering (ICO). However, such development is dependent on the progress of crypto trading and the adoption of Binance products in the blockchain infrastructure. Experts continue to believe that the market will rebound from the current $390 price line and eventually meet the long-term target of $1000. Binance CEO Changpeng Zhao has publicly stated that the goal with BNB was to create an asset that would eventually grow to the heights of Apple and Amazon. HSBC Bank recently became the third UK-based bank to block credit card payments to Binance stating 'possible risks to customers' as a reason for implementing the restriction.īNB’s position as a crucial part of Binance’s long term focus continues to add to its credibility, and therefore its value. However, this has also meant that the coin is likely to be influenced by the regulatory challenges faced by Binance and the recent surge in central banks’ resistance to cryptocurrencies.

The largest of these was held in April when Binance destroyed over $600 million worth of BNB pushing its price closer to the $600 mark.īinance Coin has also strongly reacted to an increase in trade volume on the Binance exchange. These burn events have historically affected the price of BNB. With a strict maximum supply of 200 million BNB tokens, Binance uses one-fifth of its profits to permanently destroy, or 'burn,' Binance coins held in its treasury as a way of maintaining scarcity and eventually reduce the supply of BNB from 200 million to 100 million. The future price of Binance Coin is expected to surge based on the growth potential of BSC. This improvement in value can be attributed to an overall uptick in the popularity of the Binance Smart Chain and the gap between BSC and Ethereum projects.Īs of April 2021, the transaction volume on the Binance Smart Chain was triple the volume of the Ethereum blockchain, particularly in Southeast Asia. This means that BNB follows market trends and surges in price as crypto adoption advances.Ģ021 has been a crucial year for BNB as the crypto coin has witnessed a dramatic surge in its price from $37.31 in the first week of January to a high of $686 in May. Binance Coin’s value has inherently been tied together with that of its blockchain and to the performance of the Binance exchange. Key News for Binance CoinĬreated in 2017 as a utility token for discounted trading fees via Binance, BNB’s numerous applications today include payments for transaction fees, travel bookings, entertainment and financial services. This section explains the key issues affecting BNB’s price and provides a brief look into the price timeline of the currency.

These can be beneficial in analysing its price and forecasting future value. It is crucial to understand past performance and the factors that drive a crypto coin before investing in it. A Brief History on the Price of Binance Coin In other words, the coin certainly doesn’t lack use cases.

Meanwhile, BNB is at the heart of it all, bringing benefits such as fee discounts within the exchange, offering smart contracts and dApps creation, and also fuelling the growth of Binance’s DeFi sector. Its ecosystem also includes the Binance Launchpad, which introduced the IEO trend for the first time in 2019. This is a rich ecosystem that consists of two blockchains, a main centralised exchange, a DEX, multiple fiat-to-crypto subsidiaries around the world, and many other acquired businesses, as well as those launched by Binance itself. Binance Coin is the native cryptocurrency of the Binance exchange and its entire ecosystem.

Binance coin price in 2018