Folks, $BNB has reached new heights again! Witnessing the growth of BNB has been truly shocking, and today I must share its legendary journey with you all 🚀
July 2017: Birth of ICO, initial brilliance
In 2017, it was the golden age of ICOs, with various projects springing up like mushrooms after rain. $BNB burst onto the scene at that time, issuing 100 million tokens, and the price was so low it was hard to imagine, around $0.10, a definite 'bargain price.' Initially, it was like a 'discount coupon' for exchange fees; who would have thought it would later become a significant ecological token in the crypto field? With low fees and a discount strategy for BNB payments, @binance soared rapidly. By early 2018, the price of $BNB skyrocketed to around $18, starting its journey of value discovery.
April 2019: BNBCHAIN mainnet launched, setting sail independently
In this year, Binance launched its own @BNBCHAIN and migrated BNB from the Ethereum ERC-20 to BEP-2, like a child growing up and leaving the 'foster home' to have a real home. Moreover, Binance also created Binance DEX, which, although it did not initially explode like @Uniswap and @PancakeSwap, laid a solid foundation for the subsequent expansion of the BNB ecosystem.
May 2019: Hacker attack, crisis and responsibility
Binance faced a major crisis when hackers exploited phishing and API vulnerabilities to steal 7,000 BTC, worth about $40 million. But @cz_binance (Big Brother is really impressive) did not evade responsibility; instead, he publicly apologized and activated the SAFU fund, fully compensating users for their losses. This move stabilized user confidence and demonstrated Binance's strong accountability during the crisis.
September 2020: Binance Smart Chain launched, a starting point for takeoff
The launch of BSC was a key turning point for BNB's development! This Ethereum-compatible smart contract chain allowed BNB to become a gas token, transforming its role from a mere discount voucher to the 'fuel' for ecosystem operation. In the second half of 2020, BSC experienced explosive growth, with gas fees on @Uniswap being outrageous, while Binance's own @PancakeSwap rose to prominence. Various altcoins grew wildly on BSC, leading to a massive increase in BNB usage and a skyrocketing price. By February 2021, $BNB successfully broke through $300, officially entering the 'high price club' of cryptocurrencies.
Since 2021: Regulatory storms, survival in adversity
Regulatory bodies from multiple countries have taken action against Binance, with the UK's FCA, Singapore's MAS, Japan's FSA, and others issuing warnings that Binance is operating 'without authorization.' $BNB has also fallen multiple times due to regulatory headwinds. However, CZ did not sit idly by; he published a lengthy article expressing willingness to embrace regulation, actively transforming into a compliant institution, and even recruited a number of former government officials as advisors. In June 2023, the SEC sued Binance.US and CZ, alleging that BNB was a security, causing a short-term price drop. However, by November, Binance was fined $4.3 billion, which can be seen as a temporary conclusion to this regulatory storm.
April 2024: CZ imprisoned, ecosystem independence
CZ was sentenced to 4 months in prison, and this news shocked the entire crypto circle. But strangely, BNB not only didn't crash but instead rebounded after the bad news was exhausted. This also marks the official transition of BNB to a new stage of 'de-CZ, driven by a strong ecosystem.' CZ's statements after his release and his outlook on the future ecosystem have shown everyone the resilience and potential of the BNB ecosystem.
2024 - 2025: Innovation continues, a promising future
Today's BNB ecosystem continues to evolve, introducing scaling solutions like opBNB and zkBNB to address network congestion and high transaction fees. Recently, MEME plays have also been thriving on BSC, and everyone is looking forward to the arrival of the BNB ETF. I believe that on the path of continuous innovation and expanding application scenarios, $BNB to the moon is not a dream!
