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Binance Coin (BNB) is the token native for Binance and its blockchain-based ventures. The coin can be used to interact with the Binance cryptocurrency exchange as well as the ever-evolving DeFi ecosystem on the Binance Smart Chain network.
On the Binance exchange, BNB provides users with discounts on trading fees, serves as a trading pair for coins and is used on the Binance Decentralized Exchange (DEX). Fees paid in BNB are periodically “burnt”, which means they are permanently removed from circulation, which in turn decreases the supply and theoretically increases the value. Binance will continue to burn coins until the supply is reduced from 200 million to 100 million.
BNB is also used on the exchange to participate in launchpad events, which are similar to Initial Coin Offerings (ICO).
On the Binance Smart Chain (a smart contract platform developed by Binance based on Ethereum’s codebase), BNB is used to pay gas fees and has a central role in many DeFi applications (dapps). In this way, it is very similar to the role of ETH on Ethereum.
For instance, users can deposit BNB to provide liquidity on the PancakeSwap DEX or be traded for BEP-20 tokens (The BSC version of ERC-20 tokens).
BNB (BNB) is the 5th largest cryptocurrency in the world by market cap, valued at $36,529,377,046. The current price of BNB is $330.6618, which is 3.139% higher than yesterday. Prices have ranged between $330.2649 and $303.8637 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of July 01, 2022 01:07 UTC.
| Coin symbol | BNB |
|---|---|
| Coin Marketcap | AUD$36,529,377,046 |
| Total BNB supply | 163,276,975 |
| Circulating BNB | 163,276,975 |
| Current price | AUD$330.6618 |
| All time high | AUD$1.47 |
| All time high date | May 10, 2021 |
| Notable team members | Changpeng Zhao |
| Partnerships | S.S. Lazio, Chiliz, Brave, Trust Wallet |
| Industry | Decentralised finance |
| Token uses | Transaction fees, staking, payments |
| Network | Binance Smart Chain |
Historical prices compared with the price of $330.6618.
| 1 hour | 2.01% |
|---|---|
| 24 hours | 3.14% |
| 7 days | -1.81% |
| 14 days | 7.20% |
| 30 days | -30.07% |
|---|---|
| 60 days | -42.45% |
| 200 days | -60.47% |
| 1 year | -25.94% |
Disclaimer: Cryptocurrencies, including BNB, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BNB is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the BNB or any other cryptocurrency discussed.
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