In 2017, Binance - then just a new exchange in the cryptocurrency market - launched its own coin called Binance Coin (BNB). At the time of its launch, Binance Coin was extremely low in price because Binance was still a newcomer compared to many other major exchanges, and their coin had not yet attracted attention in the market.
However, the situation has changed remarkably. To date, Binance has become the largest cryptocurrency exchange in the world, excelling in trading volume as well as weekly visits, far surpassing many other competitors. At the same time, Binance Coin has also climbed to fourth place in the ranking of top cryptocurrencies by market capitalization.
The extraordinary growth of Binance Coin
Initially, Binance Coin was sold through an initial coin offering (ICO), where buyers could use Bitcoin or Ethereum to purchase BNB. July 25, 2017, was the date when BNB's first price was recorded on CoinMarketCap, at just $0.10. If you had bought $1,000 worth of BNB at that time, you would have owned about 10,000 BNB.
The current value of 10,000 BNB
Currently, the price of Binance Coin has risen to $600. This means that your $1,000 investment from 2017, with 10,000 BNB, is now worth over $6 million - exactly about $6.9 million.
The peak of Binance Coin
In fact, if you sold this amount of BNB on May 10, 2021, when Binance Coin reached its all-time high price of $690.93, your initial investment of $1,000 would be worth nearly $7 million. The growth of Binance Coin is one of the most exemplary cases of the explosive growth potential of cryptocurrencies.