2017
BNB was launched in July 2017 at $0.15 per coin, and it quickly rose in value. By the end of the year, the BNB price had reached $7.70, an increase of over 5,000% from its launch price.
BNB performed well in 2017 for a few reasons. Binance, one of the most widely used cryptocurrency exchanges globally, used BNB as its native token. This meant that BNB had a lot of value, as it could be used to pay for all trading fees on the Binance platform.
Additionally, the entire cryptocurrency market was experiencing real growth in 2017. Bitcoin and Ethereum, the two most significant cryptocurrencies, saw price increases of over 1,000% and 900%, respectively. This had a ripple effect, driving up the BNB price as well.
2018
The BNB price fell sharply in 2018, along with the rest of the cryptocurrency market. By the end of the year, BNB's price had fallen to $6.00, an 80% decrease from its previous all-time high.
The cryptocurrency market as a whole experienced a major correction. This was due to a number of factors, including regulatory uncertainty, increased competition, and a lack of institutional adoption.
2019
BNB's price began to recover in 2019. The BNB price crossed the $30 mark in the first half of the year, but it began to decline once again in the second half due to a hack.
The hack resulted in the loss of $40 million worth of cryptocurrency, including BNB. This event damaged Binance's reputation and led to a decline in trading volume on the exchange.
2020
The price of BNB remained relatively stable through 2020 and reached its previous highs of $30-$40 mark by the end of the year.
The stability in BNB's price was a good sign, especially given the outbreak of the COVID-19 pandemic.
2021
BNB's price reached its highest price paid of $690.93 in May. After finding a bottom of around $261, the price of BNB steadily climbed back up throughout the year.
2022-23
Since the start of 2022, the price of BNB has decreased consistently, going from above $500 and mostly settling between $200 and $350. In 2023, Binance Coin hit its lowest price paid of the year at $210.58 per BNB token, before rebounding to nearly $324 in December along with the rest of the cryptocurrency market.
