The Growth of Binance Coin (
$BNB ):-
#BlackRock #RiseofAltCoins #BinanceSquareFamily #binance #CZBÄ°NANCE đ„°đ„° From Inception to DominanceSince its inception, Binance Coin (BNB) has rapidly evolved from a utility token within the Binance ecosystem to one of the most influential cryptocurrencies in the worldđ€.
This article explores BNB's journey from its launchđ„, highlighting key milestones, growth factors, and its current status in the cryptocurrency marketđ€đ€.
The Inception of Binance CoinBinance Coin was launched through an Initial Coin Offering (ICO) in July 2017 by Binanceđ„°đ„°, one of the worldâs leading cryptocurrency exchanges founded by Changpeng Zhao (CZ)âșïžâșïž.
The ICO raised approximately $15 millionđłđł, and 200 million BNB tokens were createdđ„°đ„°, with 100 million made available for public sale.Initiallyđđ, BNB was introduced as an ERC-20 token on the Ethereum blockchain. Its primary purpose was to facilitate trading fee discounts on the Binance exchangeâșïžâșïž.
Users who paid their trading fees with BNB received significant discountsđ„°đ„°, an attractive proposition that drove early adoption.đ€đ€Transition to Binance ChainIn April 2019đ
, Binance launched its own blockchainđž, Binance Chainđł, and subsequently migrated BNB from the Ethereum network to its native blockchainđ«¶.
This move significantly enhanced BNBâs functionality and utilityđ€. Binance Chain was designed to offer high performance for trading and issuing new digital assetsđ€, positioning BNB as a core component of a burgeoning blockchain ecosystem.The launch of Binance DEX (decentralized exchange) on Binance Chain further bolstered BNB's utilityđ€đ€.
Binance DEX provided a decentralized trading platform where BNB played a crucial role as the primary trading pair for various assets and as the gas fee token for transactions on the network.đđso probably BNB will continue rise in its journey.đ„°đ„°