![]() Today, the Binance chain is used to process payment transactions. Dateīinance Network has a high reach due to its popularity and has been at the forefront of innovation in the cryptocurrency space. Today, the Binance coin is trading at around $420, indicating how far the crypto has come and people’s trust in the coin. By March 10, 2021, the crypto set a new all-time high of $690. However, this was only a glimpse of things to come. In January 2021, the crypto was already trading at $44. ![]() The prices would continue to rise, and by December 2020, the prices were already trading at $38. After that, the prices would start to rise fast, and by November of the same year, the Binance coin was trading at over $2. Price Historyīinance Coin started trading at below a dollar, and by September 2017, the crypto was trading at around $0.17. In a Binance token burn done in April 2021, the platform was able to burn cryptos worth over $596 million. These coins are then permanently destroyed. Rather than let the excess Binance coin stay on the market every quarter, Binance uses a fifth of its profits to buy coins in its treasury. The Binance platform has a unique way of solving the problem that occurs with an oversupply of crypto. A third of the funding would go to building the Binance platform and performing upgrades. The remaining 50 percent to various participants ( approximately 100 million coins)Īccording to the ICO plan, almost half the funds raised during the process would cater to the project’s marketing.40 percent to the founding team ( approximately 80 million coins).10 percent to angel investors (approximately 20 million coins).The coin would later be transferred to Binance’s chain, becoming native to the Binance chain.Ĭreators of Binance coin agreed that the crypto would have a maximum of 200 million BNB tokens. During the launch, there was an initial coin offering (ICO). Binance coin was launched in July 2017 and ran the Ethereum blockchain ERC-20 standard.
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