A crypto trader made over $1 million by holding BNB tokens bought in 2017.
- One investor made a 1,000x return from Binance Coin (BNB).
- The tokens were held for eight years without selling.
- BNB just hit a new all-time high of over $1,000.
Long-Term Holding Pays Off
According to blockchain data, an early investor bought $1,000 worth of BNB tokens in 2017. Back then, BNB traded at about $1 per token. Now, BNB has reached a price of over $1,000. That means the original investment is now worth more than $1 million.
The wallet, known as “0x850,” still holds the tokens. The investor hasn’t sold them, even after this major gain. The data comes from the blockchain analysis platform Nansen.
BNB Hits All-Time High
The price of BNB went up sharply this week. It touched a new all-time high of $1,005. This rise may be part of what many call an upcoming “altcoin season.” That’s when smaller crypto coins go up in price faster than larger ones like Bitcoin or Ethereum. The record price shows that more traders and investors are paying attention to BNB.
Why BNB is Gaining Value
BNB is the main token on the BNB Chain network. It is also used on the crypto exchange Binance. Marwan Kawadri, head of DeFi at BNB Chain, said the token’s rising demand comes from more users, developers, and capital entering the network. He said these new users and apps create a “flywheel effect,” meaning each adds more value to the token and network.
Former Binance CEO Changpeng Zhao posted on social media about the milestone. He said watching BNB rise from $0.10 to $1,000 in eight years is amazing. He credited the growth to hard work and staying focused through many challenges.
Source: cointelegraph.com
