BNB Launch and Growth: In July 2017, Binance Coin (BNB) launched at 0.10 USD during its ICO, raising 15 million USD. Its transition to the BNB Smart Chain in September 2020 improved transaction speed and efficiency, aiding its rise.
Incentives for Traders: Traders receive a 25% discount on fees when using BNB on Binance, appealing especially to HIGH-frequency traders. This cost reduction reinforces BNB’s attractiveness, fostering widespread adoption and market trust.
Partnerships and Market Position: Strategic partnerships, such as with Circle for USDC, extend BNB’s usefulness beyond trading fees. Despite facing legal hurdles, BNB’s established reputation remains strong compared to emerging tokens like Lightchain AI (LCAI).