The first coin launched on Binance was Binance Coin (BNB), introduced during an Initial Coin Offering (ICO) in July 2017. At the time of its launch, BNB was priced at $0.10 per token. Initially, BNB started as an ERC-20 token on the Ethereum blockchain before transitioning to Binance's native blockchain in April 2019.
As of September 2024, Bnb is trading around $521, reflecting its significant growth over the years. BNB has become integral to the Binance ecosystem, used for reducing trading fees, participating in token sales, and powering various services on Binance's blockchain platforms. The token also benefits from Binance's quarterly auto-burn mechanism, which reduces its supply over time, potentially increasing its value by making it scarcer.
This impressive journey highlights BNBâs evolution from a simple utility token to a key player in the cryptocurrency space, securing its position as one of the top digital assets in the market today.
