Binance Coin (BNB) Price
Binance Coin (BNB) is amongst the most popular altcoins on the market, currently being the 7th largest cryptocurrency in terms of total market capitalization.
BNB had a very impressive run back in 2017. Following its ICO, during which it was sold at an average of $0.10 per BNB, the cryptocurrency surged to peak of around $24.46 in early January 2018. However, 2018’s prolonged bear market did take its toll on the coin, causing it to lose around 80 percent of its value.
2019, however, has seen BNB recover probably better than any other cryptocurrency on the market. Not only did it grew steadily throughout the year, Binance Coin actually became the first cryptocurrency to surpass its all-time high value of January 2018. In late April 2019, BNB was trading at above $25.
Binance Coin (BNB) Price Chart
If you’re thinking of investing in BNB, one of the most important things you’d have to be able to read is its price chart. It reflects the historic movement of BNB’s price and it can enable traders to identify past, existing, and even future trends.
Looking at BNB’s price chart, we can see that the cryptocurrency is performing strong throughout 2019. However, it’s not just its dollar value that’s increasing. BNB is also performing very good against Bitcoin (BTC), despite the recent increase in Bitcoin’s value as well.
About Binance Coin (BNB)
Binance Coin is without a doubt one of the most popular cryptocurrency exchange tokens. It’s the native token for the leading crypto exchange when it comes to traded volumes – Binance.
BNB was introduced through the popular means of raising funds back in 2017 and 2018 – an initial coin offering (ICO). It was held in July 2017 and the ICO price for 1 BNB was $0.10. Obviously, the altcoin has increased impressively in value ever since.
The primary use of BNB is to reduce the trading fees on the cryptocurrency exchange. Users are given different discounts if they choose to pay their fees with BNB instead of with fiat currencies.
Recently, however, Binance has also introduced their Launchpad platform. It is designated to feature pre-selected projects in the so-called Initial Exchange Offerings. Users are able to participate using only BNB. These events have proven to be particularly popular and the buying demand has so far been huge, which in turn creates more demand for BNB as well.
Initially, BNB was launched as an ERC20-based token on the Ethereum Network. However, Binance has recently launched the mainnet for their decentralized exchange Binance Chain and is working towards migrating all currently existing ERC20 BNB to BNB on their own network (BEP2 BNB).
Binance Coin (BNB) Price Analysis
As we mentioned above, Binance Coin is one of the best performing cryptocurrencies throughout the entire 2019. What is more interesting about it is that it has been growing steadily during the year, well before Bitcoin’s latest rally in early April.
In fact, by that time, BNB had already gained about 183 percent against the dollar and about 150 percent against Bitcoin.
Bitcoin’s rally at the beginning of April, however, propelled further gains in BNB as well. Since then, BNB has added another 30 percent to its dollar value.