Binance’s native cryptocurrency, BNB, continues its remarkable ascent. The token has surged past the $1,050 mark, setting a new all-time high. Binance’s market capitalization has soared 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 your 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!” – Changpeng Zhao.
BNB’s recent surge coincides with positive developments regarding Binance’s regulatory status in the U.S. The exchange has petitioned the U.S. Department of Justice to terminate its monitoring agreement stemming from the 2023 money laundering plea deal. Ending this oversight could enable 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 Binance’s collaboration with Trump’s World Liberty Financial stablecoin project.
Adding to the optimistic outlook, the U.S. Federal Reserve recently cut interest rates by 0.25%, marking its first easing in nine months amid a weakening labor market. This move is expected to stimulate growth across digital assets, including BNB.
Currently, Binance dominates the global cryptocurrency market with over 41% of daily trading volume. The platform boasts more than 280 million registered users and processes approximately $90 billion in daily trades.
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