![]() ![]() ![]() These external contributors are becoming significant players, including merchant payment companies, travel booking platforms, in-game rewards offerers, and virtual gift providers. As the ecosystem has matured with decentralized applications and use cases, so too has the adoption of BNB.Ī large, diverse BSC and DeFi community developing new projects has become the token’s principal advocate. There is no single reason why users hold BNB, and many likely have BNB for reasons that vary.īNB Chain has shown to be hugely popular with developers and users alike. BNB is also available for use as collateral for crypto loans. ![]() Millions of customers use BNB for trading and transaction fees and much more. Here it has a place as the network’s native token and also powers the recently launched BNB Smart Chain. Deployed initially on Ethereum as an ERC-20 token, BNB has since migrated to its new home: BNB Chain. These cases aren’t just limited to the Binance ecosystem either. We are now dealing with a token with its own native blockchain and a vast range of use cases. BNB’s simple purpose of paying discounted Binance trading fees was only the beginning. What started as a simple utility token has evolved into something much more complex. How did BNB get to where it is now, from not even being in the top five just two months ago? March 2021 saw over 84 million alone, and the upward trend looks to grow. There is a long journey ahead indeed, but let’s look at the journey so far.įrom paying Binance trading fees through to sending tokens on BSC, the amount of BNB transactions has continuously ris en. To reach ETH’s position, BNB needs to multiply its market cap five times to reach BTC, it needs to grow twenty times. It follows Ethereum in second place and Bitcoin in first. In this article, we'll explore BNB’s rise to the top, its utility and use cases, and a comparison of BNB to other top-ranking cryptocurrencies.īNB holds the third-largest cryptocurrency position by market cap at the time of writing at over $42 billion (USD). The initial price during the ICO was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB, which, at the time, equaled roughly $0.15 per 1 BNB. Paying transaction fees in BNB offers users a significant discount. BNB was immediately usable as payment for transaction fees on the new cryptocurrency exchange,, launched just 11 days after the ICO. It initially found its way to the crypto market through an Initial Coin Offering (ICO) taking place from June 26 to July 3, 2017. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |