Binance Coin (BNB) is the cryptocurrency on which the Binance ecosystem is based. Although originally launched as a token ERC-20 in July 2017 in the blockchain of ethereum (ETH), the token is moved to its own network later.
Binance is one of the largest cryptocurrency exchanges in the world. According to CoinMarketCap, Binance ranks first among spot exchanges with a 24-hour volume of nearly $ 25.16 billion. Second place goes to the Coinbase Global Inc (NASDAQ: COIN) platform , which has a volume of $ 4.63 billion.
The BNB ( Binance Chain or BSC ) blockchain was launched in April 2019 and allows anyone to issue, use and exchange digital assets. This has led to the proliferation of new tokens , some of which have gained popularity in their own right.
Among the tokens of the BSC based on proof of participation (PoS) are PancakeSwap (CAKE), Binance USD (BUSD) and The Graph (TSO).
CAKE, BUSD, and GRT have a market capitalization of $ 5.05 billion, $ 12.67 billion, and $ 4.21 billion, respectively. BNB has a market capitalization of $ 72.6 billion, according to data from CoinMarketCap.
BNB is the fourth largest token by market capitalization, behind Bitcoin (BTC), (ETH) and Cardano (ADA).
How are the returns going?
Since BNB’s launch, the Binance exchange run by Changpeng Zhao has generated increased interest alongside the token .
This year alone, BNB has soared 1,042.5%, outpacing year-to-date gains for both ETH and BTC, which are up 400.95% and 64.73%, respectively.
Dogecoin (DOGE) has advanced an impressive 4,232.64% since the beginning of the year.
History begins to change if we take into account the earnings of the last four years. For comparison, we will take price data from July 25, 2017, the earliest date for which price data is available on CoinMarketCap on BNB.
BNB has risen an impressive 408,379.7% since July 2017. At the time, a single BNB token was worth approximately $ 0.11. At press time, BNB was trading 3.98% higher at $ 432.28 after a 24-hour tracking period.
The Shiba Inu-themed DOGE has had an impressive track record since July 2017 and has soared 13,718.39% to date. DOGE was trading at roughly $ 0.0018 at the time. At press time, DOGE was up 2.12% to 24 cents.
The apex cryptocurrency, BTC, has soared 1,773.8% from the $ 2,576.48 it recorded in July 2017 to its current price of $ 48,278.05.
Lastly, ETH, which is the second largest currency by market capitalization, is up 1,662.30% in a similar period. On July 25, 2017, a single ETH was worth $ 206.71. As of this writing, ETH was up 7.39% to $ 3,642.86 over the course of 24 hours.