The price of the native coin from BNB Chain (formerly BSC) grew by 50 percent in late 2021 but was much lower in 2022. In December 13, 2023, for example, a single BNB coin was worth more than 254.95 U.S. dollars - a value that very different to the all-time high of 600 U.S. dollars in November 2021. Regardless, Binance Coin ranked in the top 10 most expensive cryptocurrencies in 2022. Noticeable is that the price increase of BNB in November 2021 coincides with a similar price change for Ethereum (ETH) - a cryptocurrency where BNB initially originated in 2017 before coming on its own years later.
BNB's history: From reward token in 2017 to an ecosystem after 2019
As the name suggests, Binance Coin or BNB originally started as an extension of the Binance.com trading platform - the most used cryptocurrency exchange in the world. It initially functioned on the Ethereum blockchain network as an ERC-20 token, offering incentives to owners like reduced trading fees, affiliate rewards, or a lottery ticket system ('Launchpad') that let users invest in new, Binance-selected crypto projects. In 2019, however, BNB moved away from the Ethereum network and migrated to Binance's self-developed blockchain: Binance Smart Chain or BSC (called BNB Chain since February 2022). Here, BNB started to support a chain that initially did not focus on hosting decentralized apps but focused on high transaction speed and being able to handle large amounts of traffic.
DeFi and GameFi: the main segments for BNB
BSC, however, made significant strides in 2021 partly due to traffic overload and high gas prices on Ethereum as well as the growing interest in both Decentralized Finance (DeFI) and NFTs. Much like Cardano, Solana, and Terra, Binance Smart Chain consequently became a valid alternative to Ethereum: The total value locked (TVL) of BNBs blockchain within DeFi, for example, ranked only behind that of Terra and Ethereum in early 2022. Another area where Binance's blockchain and token play a significant role is that of GameFi - or 'play-to-earn' blockchain games that are powered by cryptocurrencies. Some of the more well-known and most popular NFT games like Alien Worlds and Axie Infinity run on the blockchain behind BNB.
FAQs
BNB price in September 2017
BNB started from 6.88 INR on 16th September 2017 and slowly leaped towards 11.23 INR on 30th September 2017.
How much was Binance Coin when it first came out? ›
Price history
Binance initially created the BNB coins to enable it to raise funds through an ICO. The BNB price at the time of the ICO was 15 cents. Binance offered 100 million BNB coins for sale and raised funds worth nearly $15 million at the time in BTC and ETH.
Where will Binance be in 5 years? ›
Our most recent Binance Coin price forecast indicates that its value will increase by 2.68% and reach $614.85 by April 26, 2024. Our technical indicators signal about the Bullish Bullish 88% market sentiment on Binance Coin, while the Fear & Greed Index is displaying a score of 72 (Greed).
How much will 1 BNB be worth in 2025? ›
BNB (BNB) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 637.92 |
| 2026 | $ 669.82 |
| 2027 | $ 703.31 |
| 2030 | $ 814.17 |
1 more rowBNB's integration with Binance Smart Chain has further enhanced its utility. #BSC is a blockchain network that facilitates fast and inexpensive transactions, enabling decentralized applications (dApps) to run efficiently. The growing popularity of BSC increases the demand for BNB, potentially driving its value higher.
What makes Binance coin valuable? ›
BNB's total supply is capped at 200 million coins, according to Binance. This limited supply creates scarcity, a factor that could potentially drive up the value of BNB over time. As an investor, understanding a cryptocurrency's supply limit can offer insight into its potential future value.
How many Binance coins are left? ›
How Many BNB Are There in Circulation? There is an initial maximum supply of 200,000,000 BNB coins, of which 168,137,036 are currently in circulation as of September 2021. Binance conducts quarterly burning of the BNB supply, with the goal of reducing the total supply by half — or 100,000,000 BNB.
What is the most profitable coin in Binance? ›
Bitcoin (BTC) retains its position as the leading cryptocurrency by market cap, and its dominance garners attention from investors.
Is Binance Coin worth buying? ›
Binance coin (BNB) may be an excellent choice if you want to invest in a major cryptocurrency other than Bitcoin or Ethereum. ... It's also used as a utility token for Binance Smart Chain (BSC). Traders use BNB to pay for trading fees, and by using BNB, they receive a 25% discount.
Which coin will boom in 2024? ›
Although Uniswap (UNI) and Stacks (STX) are considered among the best cryptocurrencies to invest in the crypto market, KangaMoon is regarded as the hottest meme coin of 2024.
Our Binance Coin price prediction for 2030 projects that the potential high of the BNB coin may be $2296, with a potential low of $1947 in the crypto market.
Will BNB reach 1000 dollars? ›
You can participate in IEO if you have BNB tokens, so each such project provokes a demand for Binance Coin. Will Binance Coin reach $1,000? Binance Coin would need to gain 221.13% to reach $1,000. According to our Binance Coin prediction algorithm, Binance Coin will hit $1,000 in May 2024.
Can BNB reach $10,000? ›
While it's possible that BNB could reach $10,000 per coin, it's important to remember that this is speculative and there is no guarantee that this will happen.
Which coin is best to buy now? ›
Here are six of the best cryptocurrencies to buy now:
- Bitcoin (BTC)
- Ether (ETH)
- Solana (SOL)
- Avalanche (AVAX)
- Polygon (MATIC)
- Cardano (ADA)
Based on our analysis of factors like market sentiment, Binance exchange growth, and BNB utility expansion, BNB is likely to reach $550 by 2024. Much will depend on whether the cryptocurrency bull run continues over the next two years. However, predicting prices has inherent uncertainties.
How much was BNB ICO in 2017? ›
The price of Binance Coin during the token sale was $ 0.15 per BNB. The Binance Coin token sale started on Jun 26, 2017, and lasted until Jul 3, 2017. Compared to its initial token sale price, BNB is currently showing an ROI of 3,980.08x against the US dollar, 151.62x against Bitcoin, and 0.00x against Ethereum.
What is the total value of Binance? ›
Binance is the world's largest crypto exchange by trading volume, with $76 billion daily trading volume on Binance exchange as of August 2022, and 90 million customers worldwide.
How much is Binance valued? ›
Bloomberg's wealth index has cut the value of Binance.US to zero, despite it being valued at $4.2 billion following a funding round in March 2022.
How much is a Binance worth? ›
The live price of BNB is $ 602.16 per (BNB / USD) with a current market cap of $ 88.87B USD. 24-hour trading volume is $ 1.43B USD.
