Binance Coin, commonly known as BNB, is a significant player in the cryptocurrency market. It is a decentralized blockchain digital asset issued by Binance, based on the Ethereum network. The token has a fixed total issuance of 200 million, and Binance conducts quarterly token burns based on the platform's trading volume each quarter. The burn records are publicly announced, and users can verify them through blockchain browsers, ensuring transparency. The burning process will continue until the total supply of BNB is reduced to 100 million.
However, there seems to be a misunderstanding in the question. BNB was not first listed on Binance in 2020. Binance, the world - leading cryptocurrency exchange, was established in July 2017. BNB was launched around the same time as part of Binance's ecosystem. It serves as fuel for the Binance ecosystem and the decentralized exchange. BNB has found its way into multiple use - cases, such as allowing users to get up to a 50% discount when using it to pay for trading fees on Binance. It can also be used for payments in applications like Monaco Visa and for purchasing virtual gifts on the Uplive live - streaming platform.
As of 2025, BNB has shown remarkable growth. Since its launch, the price of BNB has increased by over 10,000 times in 8 years, with its price exceeding $700 in July 2025. Binance's automatic burn mechanism has reduced the total supply to approximately 139.28 million BNB, which has increased its scarcity and attracted institutional investors with large - scale capital allocations.
The BNB Chain, initially launched by Binance in 2017, has evolved from an Ethereum - based token worth $0.15 to a decentralized blockchain powerhouse. The network supports over 1,000 decentralized applications (dApps) spanning from DeFi to NFT sectors. In 2025, it processed over 340 million transactions in a single week, accounting for 18.76% of global blockchain activity. The popularity of the BNB Chain's meme - coin ecosystem can be attributed to several factors:
The cryptocurrency market is constantly evolving, with new tokens being released regularly. For example, BonFi (BNF) was first issued on October 26, 2020. It is an Ethereum - based token with a maximum supply of 1 billion BNF. As of July 2025, its price has remained relatively stable at $0.00006439. The token's historical highest price was $0.05 on April 11, 2021, and its historical lowest was $0 on October 18, 2022.
When exploring new cryptocurrency releases, investors need to conduct thorough due diligence. They should analyze factors such as the project's whitepaper, the team behind it, the use - case of the token, and the market demand. Additionally, understanding the token's issuance mechanism, including the initial offering price, crowdfunding price (if any), and the potential for future burns or supply adjustments, is crucial.
The cryptocurrency market is highly volatile and speculative. While new tokens may present opportunities for high returns, they also come with significant risks. Therefore, it is essential for investors to have a clear understanding of their risk tolerance and investment goals before entering the market.
In conclusion, BNB has a long - standing history and has become a cornerstone of the Binance ecosystem. Meanwhile, the continuous emergence of new cryptocurrencies like BonFi adds more diversity to the market. As the blockchain technology continues to develop, we can expect to see more innovative projects and token releases in the future.
Q: When was BNB first listed on Binance? A: BNB was not first listed on Binance in 2020. It was launched around the time when Binance was established in 2017.
Q: What is the use of BNB? A: BNB can be used to pay for trading fees on Binance with a discount, for payments in certain applications, and for purchasing virtual gifts on some platforms.
Q: How do I evaluate new cryptocurrency releases? A: You should analyze the project's whitepaper, the team, the token's use - case, market demand, issuance mechanism, and other relevant factors. And always DYOR (Do Your Own Research) before investing.
Q: What are the risks of investing in new cryptocurrencies? A: The cryptocurrency market is highly volatile and speculative. New tokens may face issues such as lack of adoption, regulatory uncertainties, and technological failures, which can lead to significant losses.