What was the initial price of BNB?
All of the 100 million BNB tokens available for public sale were sold during the ICO at 15 cents per token.
Price history
Binance initially created the BNB coins to enable it to raise funds through an ICO. The BNB price at the time of the ICO was 15 cents.
BNB tokens were dispersed among various participants including angel investors and the Binance founding team as part of the ICO. During the ICO, all 100 million BNB tokens available for public sale were sold for 15 cents each. Binance raised a total of $15 million in Bitcoin (BTC) and Ethereum (ETH) from this ICO.
BNB started from 6.88 INR on 16th September 2017 and slowly leaped towards 11.23 INR on 30th September 2017.
The issue price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB (around 0.11 USD back then). BNB was initially issued as an ERC-20 token (on the Ethereum platform), but it has since been transferred to the main BNB Chain.
BNB is a cryptocurrency created in June 2017, launched during an ICO in July, and initially issued as an ERC-20 token. Designed to be used for a fee reduction on the Binance exchange, its scope was extended over the years. BNB powers the Binance Chain as its native chain token.
BNB is the native token in the BNB Chain ecosystem, which includes BNB Smart Chain (BSC) and BNB Beacon Chain. On BNB Smart Chain, BNB is used to pay for transaction fees and to participate in the network's consensus mechanism.
Here's how BNB coin came into existence: 👉Initial Coin Offering (ICO): Binance conducted an ICO for BNB in July 2017 to raise funds for the development of its cryptocurrency exchange platform. During the ICO, Binance issued a fixed supply of 200 million🤑 BNB tokens on the #Ethereum blockchain using the ERC-20 standard.
BNB, the native token of the Binance Smart Chain (BSC), has an intriguing history closely tied to the evolution of the Binance cryptocurrency exchange. BNB was originally introduced as part of Binance's Initial Coin Offering (ICO) in July 2017. Initially, BNB was launched on the Ethereum blockchain as an ERC-20 token.
When did BNB first launch?
Binance Coin was launched with an initial coin offering (ICO) in July 2017.
Long-term Binance Coin price prediction for 2025, 2026, 2027, 2028, 2029 and 2030. Based on the historical price movements of Binance Coin and the BTC halving cycles, the yearly low Binance Coin price prediction for 2025 is estimated at $ 578.28.
| Year | Price |
|---|---|
| 2025 | $ 580.34 |
| 2026 | $ 609.36 |
| 2027 | $ 639.83 |
| 2030 | $ 740.68 |
Bitcoin was originally worth next to nothing. The transaction that first gave Bitcoin monetary value was in October 2009, when Finnish computer science student Martti Malmi, known online as Sirius, sold 5,050 coins for $5.02, giving each Bitcoin a value of $0.0009 each.
After stints as a technology leader at crypto wallet provider Blockchain and crypto marketplace OKCoin, CZ ventured into building his own exchange, combining the tech performance of high-frequency trading platforms he developed with the promise of crypto. As a result, he launched Binance through a $15 million ICO.
By June 2011, Bitcoin's price had hit nearly $30, a seemingly unimaginable rise from just months before. And that's where it topped out for the year. Bitcoin spent the remainder of 2011 just dwindling to as low as $2, before finishing the year at $4.70.
Can BNB reach $10,000? Binance coin would need to gain 3158.18% to reach $10,000.
According to our Binance Coin prediction algorithm, Binance Coin will hit $1,000 in May 2024. Will Binance Coin reach $10,000? Binance Coin would need to gain 3,111.27% to reach $10,000. According to our Binance Coin prediction algorithm, Binance Coin will hit $10,000 in March 2044.
BNB Price Prediction Summary
BNB is priced at $308.30, down 1.78% in the last 24 hours. The price is down 55.25% from its all-time high (ATH) of $690.93 in 2021. In 2023, BNB dropped 23% due to Binance being sued by the SEC. Our BNB price prediction forecasts an average price of $620 by the end of 2030.
BNB doesn't get mined, and the entire supply of 200 million coins was issued during the ICO instead.
What is the oldest crypto exchange?
Bitstamp is the world's oldest cryptocurrency exchange.
Binance coin is the crypto-coin issued by the binance exchange and trades with a BNB symbol. This coin runs on the Ethereum blockchain with standard ERC 20 and is limited to a maximum of 200 million BNB tokens.
In February 2022, the company changed the token's name to Build'N'Build. At that time, Binance Smart Chain was also renamed to BNB Chain. BNB Chain had previously been criticized for being overly centralized, which had led to several exploits on the network. BNB had 44 validators as of October 2022.
The easiest and safest way to get free $BNB testnet tokens is from the official Binance Smart Chain Faucet. To use the official Binance Smart Chain Testnet Faucet, you need to visit the website, input your #BNB address, complete the CAPTCHA verification, and click "Give me BNB" to receive 0.5 BNB testnet tokens.
BNB's increasing value over the years can be attributed to several factors, including its utility within the Binance platform, the burn mechanism that decreases its supply over time, and the growth and success of Binance as a leading cryptocurrency exchange.
