Founded by a former Tokyo Stock Exchange engineer, Binance has quickly gained recognition by issuing its native token, BNB. This article analyzes records, market capitalization, and significant investments in BNB.
Price Records of BNB
On July 28, 2023, the price of BNB reached an all-time high of $850. Despite a recent decline of about 12%, this achievement remains impressive. Over the past month, the price showed a +14% ROI and about 35% growth over the past year. Since debuting at $0.10 in July 2017, the ROI stands at 849,900%, indicating an average annual return of 106,237%.
Market Capitalization of Binance
The total market capitalization of the BNB economy surpassed $100 billion in July, happening for the third time since last December and in November 2021. In just eight years, Binance has become a significant player in the market, almost comparable to giants like Amazon. Despite facing some legal issues with U.S. authorities, Binance continues to sustain growth in its market capitalization.
Corporate Investments in BNB
Among the new investors in BNB are companies from the nanotech sector. Chinese firm Nano Labs acquired 120,000 BNB tokens worth $90 million. Windtree Therapeutics, a Pennsylvania biotech firm, announced plans to invest $520 million in their BNB treasury strategy, which may attract major institutional investments.
The success of Binance and its token BNB highlights the active development of the cryptocurrency market. Price records and growth in market capitalization make BNB appealing to investors and strategic partners.
