BNB was launched in July 2017 through an ICO at around $0.10 per token, created as a utility asset for discounted trading fees on Binance, and successfully raised about $15 million by selling 100 million BNB from its 200 million total supply.
Between 2017 and 2018, Binance rapidly became one of the world’s largest exchanges, with BNB serving primarily as a token for fee payments at a 50% discount in its first year; during this period, its price rose from $0.10 to over $20 in the 2017 bull run, and Binance began quarterly token burns using 20% of profits to permanently reduce supply.
In 2019, BNB’s utility expanded as Binance Launchpad enabled holders to participate in new token sales (IEOs), it was added as a payment method on Binance DEX, and its price climbed above $30 before experiencing a market pullback later that year.
Between 2020 and 2021, BNB experienced massive growth with the September 2020 launch of Binance Smart Chain (BSC), a fast and low-cost blockchain compatible with Ethereum, where BNB became the gas fee token; as DeFi projects migrated to BSC amid Ethereum’s high fees, its price surged from around $30 in late 2020 to an all-time high of about $690 in May 2021.
From 2021 to 2023, Binance faced increasing global regulatory scrutiny, yet BNB maintained its position as a key asset in DeFi, NFTs, and GameFi; by 2023, over 45 million BNB had been permanently burned, while its price fluctuated between $200 and $600.
From 2024 to 2025, BNB Chain introduced upgrades enabling AI-powered dApps, improved cross-chain functionality, and greater scalability, while continuing to drive DeFi, NFT marketplaces, metaverse projects, and tokenized real-world assets; BNB remained among the top five cryptocurrencies by market cap and expanded its utility into payments, gaming, and staking.
Today, BNB stands as a dominant force in the cryptocurrency world, recognized as one of the most widely used and versatile tokens worldwide.
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