Since its inception in 2017, Binance has evolved into the world's largest cryptocurrency exchange by daily trading volume. Central to its ecosystem is BNB (Build and Build), a utility token that has significantly influenced the crypto landscape.
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๐ The Rise of BNB
Launch and Initial Offering: BNB was introduced in July 2017 through an Initial Coin Offering (ICO), with an initial price of approximately $0.10.
Price Trajectory: As of May 30, 2025, BNB is trading at approximately $669.96 USD.
Market Capitalization: With a circulating supply of around 140.89 million BNB, the market cap stands at approximately $94.39 billion USD.
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๐ง Utility and Use Cases of BNB
BNB serves multiple functions within and beyond the Binance ecosystem:
Trading Fee Discounts: Users can use BNB to pay for trading fees on the Binance exchange, often receiving discounts.
Transaction Fees: BNB is used to pay for transaction fees on the BNB Chain, which includes both the BNB Beacon Chain and BNB Smart Chain.
Token Sales: Participation in token sales hosted on Binance Launchpad often requires BNB.
Payments: BNB can be used for online and in-store purchases, including booking travel accommodations through platforms like Travala.com.
DeFi and DApps: BNB is utilized in various decentralized finance (DeFi) applications and decentralized apps (DApps) within the BNB Chain ecosystem.
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๐ BNB's Price Performance Over Time
BNB has shown remarkable growth since its launch. Here's a snapshot of its price evolution:
Year Average Price (USD) Highest Price (USD) Lowest Price (USD)
2017 $1.94 $11.30 $0.0961
2018 $11.19 $24.91 $4.25
2019 $20.12 $39.45 $5.49
2020 $21.34 $39.48 $6.61
2021 $378.53 $689.72 $35.24
2022 $324.37 $532.41 $199.22
2023 $295.00 $350.00 $250.00
2024 $500.00 $794.30 $400.00
2025 $675.41 $689.23 $669.76
Note: The 2025 data reflects the price as of May 30, 2025.
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๐ฅ Token Burn Mechanism
Binance employs a quarterly token burn mechanism to reduce the total supply of BNB, aiming to eventually burn 100 million BNB, which is 50% of the total supply. This deflationary model is designed to increase the value of the remaining tokens over time.
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๐ BNB Chain Ecosystem
The BNB Chain, comprising the BNB Beacon Chain and BNB Smart Chain, supports a wide range of applications, including DeFi platforms, NFTs, and gaming. This ecosystem fosters innovation and provides developers with the infrastructure to build decentralized applications.
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๐ผ Investment Considerations
Volatility: Like all cryptocurrencies, BNB is subject to market volatility.
Regulatory Environment: Investors should stay informed about regulatory developments that may impact Binance and BNB.
Utility and Adoption: The continued expa