BNB's 2017 Price Performance Overview
The year 2017 marked a pivotal period for Binance Coin (BNB), showcasing dramatic price fluctuations that reflected the volatile nature of cryptocurrency markets. Below is a comprehensive breakdown of BNB's daily performance throughout this transformative year.
Key Price Metrics Table
| Date | Opening Price ($) | Highest Price ($) | Lowest Price ($) | Closing Price ($) | Trading Volume ($) | Daily Change |
|---|---|---|---|---|---|---|
| 2017-12-31 | 7.76 | 8.84 | 7.71 | 8.64 | 74,927,904 | +11.34% |
| 2017-12-30 | 8.71 | 8.76 | 7.19 | 7.84 | 72,933,904 | -9.99% |
| ... | ... | ... | ... | ... | ... | ... |
| 2017-07-25 | 0.12 | 0.12 | 0.10 | 0.11 | 145,269 | -8.33% |
Notable Market Movements
December Surge (Q4 2017)
- Record High: $11.30 (December 27)
- Monthly Growth: 240% from November's $2.38 baseline
Key Drivers:
- Binance platform adoption surge
- Bitcoin's historic bull run
- First major exchange token competition
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August Breakout
- Initial Listing Price: $0.10 (July 2017)
- August Peak: $2.75 (August 18)
- Growth Factor: 2,650% in 6 weeks
Catalysts:
- Binance exchange launch momentum
- Early trader incentives
- FOMO (Fear of Missing Out) effect
Critical Price Points
- Annual High: $11.30 (December 27)
- Annual Low: $0.10 (July 25)
- Most Volatile Month: December (37% average daily swings)
- Stabilization Period: September-October ($1-2 range)
Market Analysis by Quarter
| Quarter | Price Range ($) | Key Events |
|---|---|---|
| Q3 | 0.10-2.50 | Binance platform launch, initial token distribution |
| Q4 | 2.38-11.30 | BTC bull market correlation, exchange volume incentives |
FAQ: Understanding BNB's 2017 Journey
Q: What caused BNB's December 2017 price spike?
A: Combination of Binance's growing userbase, token burn announcements, and overall crypto market euphoria during Bitcoin's $20K surge.
Q: How did BNB perform compared to Bitcoin in 2017?
A: While BTC gained 1,300%, BNB outperformed with 11,000% growth from July to December listing prices.
Q: Were there major corrections during the uptrend?
A: Yes - notable 27% drop on August 14-15 and 22% December 30 correction before New Year's recovery.
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Q: What was BNB's utility during this period?
A: Primarily trading fee discounts (50% first year) on Binance exchange, creating direct platform demand correlation.
Q: How does 2017's volatility compare to current BNB markets?
A: Modern BNB shows significantly reduced volatility with established ecosystem use cases beyond just exchange utility.
Technical Observations
- Volume Patterns: Highest trading volumes occurred during price discovery phases (August, December)
- Support Levels: $0.10 held strong through initial months, $1 became new psychological support post-September
- Resistance Breakthroughs: $2.50 and $8 levels required multiple attempts before sustained breaks
Note: All data reflects historic performance and doesn't predict future results. Cryptocurrency investments carry substantial risk.