Binance’s native cryptocurrency, BNB, continues its remarkable ascent, surpassing the $1,050 mark and setting a new all-time high. This surge has propelled Binance’s market capitalization to nearly $147 billion, solidifying its position as the world’s largest cryptocurrency exchange.
BNB Price Movement – Binance
Reflecting on its humble beginnings, BNB was priced at just $0.10 during its Initial Coin Offering (ICO) on July 2, 2017. Over the span of approximately 3,000 days, the token’s value has skyrocketed by 10,000 times. In a heartfelt social media post, Binance founder Changpeng Zhao (CZ) expressed his awe at this achievement.
“As an individual member of the community and a BNB holder, I extend my gratitude to everyone within the BNB and cryptocurrency ecosystems for their unwavering support. We’ve faced challenges along the way, but through hard work, innovation, and resilience, we’ve come this far. This is truly a community-driven success!”
“This is just the beginning. Together, let’s aim for the next 10,000x!” CZ added.
BNB’s recent rally coincides with reports that Binance may soon be free from U.S. regulatory oversight. The exchange has petitioned the U.S. Department of Justice to terminate the monitoring period imposed as part of its 2023 money laundering settlement. Ending this oversight could allow Binance to fully restore its operations post-penalty.
In May, the U.S. Securities and Exchange Commission (SEC) announced a settlement with Binance, concluding its investigation without further action. Following this, CZ expressed his desire for a presidential pardon from Donald Trump, citing his collaboration with Trump’s World Liberty Financial project, which launched the USD1 stablecoin.
Adding to the positive momentum, the U.S. Federal Reserve recently cut interest rates by 0.25%, marking its first rate reduction in nine months amid a weakening labor market. This move is expected to stimulate growth across digital assets, including BNB.
Currently, Binance commands over 41% of the global daily cryptocurrency trading volume, boasting more than 280 million registered users and approximately $90 billion in daily trading volume.
