BNB 8th Anniversary: How $100 Became $1 Million in 8 Years?

The cryptocurrency community is celebrating a special event with the 8th anniversary of BNB. From a basic bearish cryptocurrency for Binance users, this token has now become one of the world's leading digital assets. As the token value approaches 700 dollars, its journey once again becomes the center of attention. It's not just about the price, but also about the development path of the project over the past eight years. From 0.06 USD To Crypto Powerhouse At the time of the token's issuance in July 2017, its value was just $0.06. It is mainly used to reduce transaction fees on the Binance platform. Today, Binance Coin has increased in value nearly 10,000 times compared to its initial value. The 8th anniversary of BNB serves as a reminder of one of the most successful token stories in the history of digital asset. CZ Reflects on the Journey The founder of Binance, Changpeng Zhao, commonly known as CZ, shared his thoughts on social media to commemorate this event and celebrate the 8th anniversary of BNB's launch. In a brief post, he pointed out how this token increased in value from $0.06 to $698 over eight years. Many users in the community have responded with excitement and their own memories. The post highlights the changes in the cryptocurrency space since 2017. An Increase is Attracting Attention In the past 24 hours, this currency has risen from 670.40 dollars to 688.70 dollars. Currently, the trading price is at 697.31 dollars, up 1.21%; the trading volume has also increased by 21.21%, reaching 1.99 billion dollars in just one day.

This price increase is accompanied by a bullish trend in the market, as Bitcoin reaches an all-time high of 121,000 dollars. But this price increase does not only depend on market trends. Several major events have contributed to this upward momentum. The Benefits of Businesses Bringing New Ways of Use Another useful thing is the increasing interest from the business community. More than 30 groups are exploring how to use Binance as part of the treasury reserves of public companies. A significant step in this direction comes from 10X Capital, supported by YZi Labs. This company plans to establish a publicly listed fund in the United States with a charter capital of 500 million dollars, built on this digital asset. Such support will attract more attention and trust in the token. Burning a Giant Token Worth 1 Billion USD The 32nd token burn event of Binance is one of the main events that caused the price to surge recently. This time, nearly 1.59 million tokens were burned, with a total value of over 1 billion dollars. The goal of this campaign is to fall the total supply down to 100 million tokens. So far, more than 265,000 tokens have been burned. This deflationary model facilitates scarcity, primarily leading to an increase in value. It also contributes to further excitement for the 8th anniversary celebration of BNB. Not Just a Trading Tool The 8th anniversary of BNB also reflects the remarkable development of this cryptocurrency, extending beyond the scope of trading. Currently, BNB Chain supports decentralized applications, DeFi tools, NFT platforms, and gaming. It has become an indispensable part of the blockchain universe, providing real value to developers, users, and businesses. Looking Ahead After 8 Strong Years Although the cryptocurrency market can be volatile and prices can change rapidly, this 8-year journey demonstrates the resilience of BNB. Celebrating the 8th anniversary of BNB, we can see that Binance has evolved from a humble concept into a giant in the field of digital assets.