🚨LATEST CRYPTO NEWS : THE FULL HISTORY OF BINANCE CRYPTO COIN ( BNB ) | Daily Crypto History

#Crypto #bnb #bitcoin #todaynews BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem. It was launched in 2017 and has become one of the most prominent cryptocurrencies in the market. Here's a brief history of BNB: ### 1. **Launch and ICO (2017)** - **Initial Coin Offering (ICO):** Binance Coin was launched through an ICO in July 2017. The total supply of BNB was capped at 200 million coins. - **Purpose:** Initially, BNB was created as a utility token to pay for trading fees on the Binance exchange. Users who paid fees in BNB received discounts. ### 2. **Early Utility and Growth (2017–2018)** - **Trading Fee Discounts:** BNB provided tiered discounts on trading fees during its early years (50% in the first year, 25% in the second year, etc.). - **Token Burn:** Binance introduced a quarterly token burn mechanism to reduce the total supply of BNB. A portion of the BNB collected from fees is burned to increase scarcity and value. ### 3. **Expansion of Use Cases (2019)** - **Binance Chain and Binance DEX:** In 2019, Binance launched its own blockchain, Binance Chain, and migrated BNB from the Ethereum network (ERC-20 token) to its native BEP-2 token. Binance DEX, a decentralized exchange, was also launched on Binance Chain. - **Wider Adoption:** BNB began to be used beyond trading fee discounts, including payment for goods and services, participation in token sales on Binance Launchpad, and staking in various Binance ecosystem projects. ### 4. **DeFi and Binance Smart Chain (2020)** - **Binance Smart Chain (BSC):** In 2020, Binance introduced BSC, a blockchain designed to support smart contracts and decentralized finance (DeFi) applications. BNB became the native token for transaction fees on BSC. - **DeFi Boom:** BSC became a major competitor to Ethereum due to its lower fees and faster transaction times. This significantly boosted BNB's utility and demand. ### 5. **Market Growth and All-Time Highs (2021)** - **Price Surge:** BNB experienced a massive price rally in 2021, reaching an all-time high of over $600 in May 2021 during the broader cryptocurrency market surge. - **Ecosystem Expansion:** Binance expanded its ecosystem with new products like NFT marketplaces and staking opportunities, further increasing BNB's use cases. ### 6. **Regulatory Challenges and Adaptation (2022)** - **Regulatory Scrutiny:** Binance faced regulatory challenges in various jurisdictions, but the company and its ecosystem continued to grow. - **Enhanced Ecosystem:** BNB's utility was bolstered by partnerships, integrations with decentralized applications (dApps), and adoption in new blockchain projects. ### 7. **Ongoing Developments (2023 and Beyond)** - **BNB Chain:** Binance rebranded its blockchain ecosystem as "BNB Chain" to emphasize decentralization and community-driven development. - **Use in Web3:** BNB continued to play a critical role in Web3 innovations, including DeFi, NFTs, and gaming. - **Token Burn Program:** Binance maintained its quarterly token burn schedule, with an ultimate goal to reduce the total supply to 100 million BNB. ### Key Features of BNB - **Utility Token:** Used for transaction fees, DeFi, staking, and more. - **Deflationary Mechanism:** Quarterly burns reduce its supply. - **Ecosystem Integration:** Central to Binance's broad range of products and services. ### Price History Highlights - **2017–2018:** Traded below $10 during its initial phase. - **2020:** Rose steadily during the DeFi boom. - **2021:** Surged to over $600 during the crypto market bull run. - **2022–2023:** Stabilized amidst market corrections and ongoing developments. BNB remains a cornerstone of the Binance ecosystem and a leading cryptocurrency in terms of market capitalization. Its future depends on the growth of the Binance ecosystem and broader adoption of blockchain technology. Follow Daily Crypto History for DAILY updates on bitcoin, Ethereum, Solana, crypto, & MORE! We cover Bitcoin, Ethereum, Cardano, NFTs, altcoins, metaverse, mining, trading, investing, technology, Web3, & everything crypto related. Our personal goal is to use altcoins to stack more Bitcoin. Daily Crypto History is run by Mr. Emu. Videos are NOT offers to buy or sell securities. Videos are not 'buy' or 'sell' signals of any kind. ALL videos are for informational and entertainment purposes only. Investing and trading in cryptocurrencies is VERY RISKY. Daily Crypto History , we are NOT financial advisors and are strictly operating off of opinion and information found publicly online. Again: Our videos are NOT buy or sell signals. All investments you make are on you. 🚨We will NEVER reach out to you on ANY platform (Telegram, YouTube, Gmail) for ANY opportunity. We do NOT solicit! Beware of scammers! *The channel is not responsible for the performance of sponsors and affiliates