In this article we will analyze the trend over time of the price of the crypto BNB (Binance Coin) an
In this article we will analyze the trend over time of the price of the crypto BNB (Binance Coin) and NOT (Notcoin).
The crypto market is experiencing a calm moment, after the declines at the beginning of the week. It is therefore a good time to do some price analysis over slightly longer timeframes.
Summary
The crypto Binance Coin
BNB is the native cryptocurrency of BSC, once known as Binance Smart Chain.
BNB was born as a token on Ethereum in 2017, with the ICO of Binance. At the time, the token was called Binance Coin.
Subsequently, with the launch of the BNB Chain, the denomination Binance Coin was abandoned, because it is no longer just the crypto of Binance but also the native cryptocurrency of BNB Chain.
In turn, BNB Chain is a blockchain ecosystem based on three chains, BNB Smart Chain (BSC), opBNB, and BNB Greenfield.
BSC, however, is the chain most used by common users, so by now BNB is defined as the native cryptocurrency of BSC.
Although BNB debuted on the crypto markets precisely in 2017, thanks to Binances ICO, it was only from the following year that its use began to spread, thanks to the success of the exchange.
Technically BSC was born in 2020, even though the year before Binance had already created another chain that had BNB as its native cryptocurrency.
It is therefore necessary to take different starting points as references to analyze the trend of the price of BNB.
The trend of the price of the crypto BNB (Binance Coin) and the analysis of Notcoin (NOT)
The debut on the crypto markets of BNB in 2017 occurred at a price below 0.1$. However, it is not advisable to take that as the main reference point, because in hindsight it can be said that that price was excessively low.
Already at the end of the year, it had reached a peak higher than $24, and during the bear-market of 2018, it never fell below $4.
As a starting point for the rise in its price, it is probably advisable to take the bottom of 2018, set at around $4.5.
During 2019, with the launch of Binances first chain, BNB transitioned from a token on Ethereum to a native cryptocurrency, and its price over the course of the year reached a peak exceeding $38.
In other words, with the launch of the first Binance chain, BNB recorded new all-time high prices during a year that was not particularly good for the crypto markets, and in the absence of a major bullrun. This speaks volumes about how undervalued it was at the beginning in the crypto market.
In 2020, with the launch of BSC, it did not manage to repeat the boom of 2019, but in December it climbed back above $30 with the start of the last great bullrun.
The historical records
And so during the course of 2021 the price of BNB skyrocketed to more than $650 in less than five months, with a +2,000% that many still remember very well.
At the time, there was a boom in DeFi on BSC, especially thanks to DEX like PancakeSwap.
On one side BNB was necessary to pay the fees on BSC, and with many users flocking to fast and cheap DEXs, the result was a strong surge in the use of this cryptocurrency.
On the other hand, the enormous success of Binance, and the use of BNB as a base for example for Launchpad and Launchpool, contributed to greatly increasing its demand.
During the year it then fell below $300, but in November it managed to climb back above $650.
Despite during the subsequent bear-market of 2022 the price dropped to around $200, and despite this bear-market for BNB extended until October 2023, with the start of the new bullrun crypto started to rise again.
In fact, the all-time high was actually recorded this year, at the beginning of June, when it managed to surpass $700 even if only for a brief moment.
The current situation
It is worth noting that at this moment it is at $575, that is -20% from the highs and at figures lower than even the highs of 2021, but this is a dynamic in line for example with that of Bitcoin.
In the last seven days it has lost only 0.9%, and in the last thirty days 4%. Excluding the peak of June 5 and 6, its current price is quite in line with that of the end of May, although slightly lower.
It should not be forgotten that 2024 started with BNB just above $300, so 2024 remains a very profitable year for now, if we exclude the last three weeks.
Notcoin: the difference with Binance Coin and the price analysis of the crypto
Notcoin, on the other hand, is a whole different thing.
It is a token, NOT, created this year on the Telegram blockchain The Open Network (TON).
It is a sort of memecoin used in some mini-apps on Telegram, particularly in game-fi.
Despite this, it has already risen to 1.5 billion dollars in market capitalization, placing it at the 57th position among the most capitalized cryptocurrencies.
To have some reference points, AAVE for example capitalizes only $1.4 billion, while NOT capitalizes more or less as much as BONK, a well-known memecoin on Solana, and a little less than FLOKI.
It should not be forgotten, however, that NOT landed on the crypto markets only last month.
The trend of the price of NOT
The historical data to analyze is therefore very limited, so much so that no important information can really be drawn from this analysis.
It is worth mentioning, however, that after debuting at around 11 thousandths of a dollar, its price had dropped to below 5 thousandths of a dollar by the end of May.
Despite a disastrous start, during the month of June the price first recovered, but then recorded new all-time highs even at 29 thousandths of a dollar.
On the other hand, being in fact a memecoin it has a very volatile and unstable market value, so it is not surprising that in a month and a half it first recorded a -54% followed by a +480%.
Currently it has returned to -47% from the highs, or about 15 thousandths of a dollar, a level still higher than the initial one.
Although from the highs of the beginning of the month it seems to have done almost nothing but go down, it is not at all possible to exclude some further rally.
It should not be forgotten that the TON ecosystem of Telegram is currently one of the most active.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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