Key BNB Token Metrics
- Coinrank: #20
- Token Type: Utility token (ERC-20)
- Mineable: No
- Circulating Supply: 154,532,785 BNB
- All-Time High: $793.90
- All-Time Low: $0.0979
- Release Date: July 8, 2017
Live BNB Price Data
- Current Price: $659.96 USD
- 24h Trading Volume: $161.99M USD
- 24h Change: -0.59%
What Is Binancecoin (BNB)?
Binance Coin (BNB) is the native liquidity token of the Binance cryptocurrency exchange, one of the world’s largest trading platforms. BNB serves as a cross-asset within the Binance ecosystem, enabling users to pay for transaction fees at a discounted rate.
Core Features:
- Fee Discounts: Traders using BNB receive rebates on exchange fees, phased over five years.
- Quarterly Coin Burns: Binance burns (destroys) 20% of its quarterly profits in BNB tokens, reducing supply until 50% of the total supply is eliminated.
Multi-Platform Utility:
- Binance Chain: Powers the decentralized Binance DEX, where BNB is the base liquidity token.
- Launchpad: Hosts token sales (e.g., BitTorrent’s BTT), requiring BNB for participation.
Why Invest in BNB?
- Strong Ecosystem Backing: Direct integration with Binance’s growing suite of products enhances demand.
- Deflationary Model: Regular coin burns may increase scarcity and long-term value.
- High Liquidity: Widely traded on Binance with stable market depth.
👉 Explore BNB’s latest price trends
FAQs About Binancecoin
1. How do I use BNB for fee discounts?
Hold BNB in your Binance account, and fees will automatically be deducted from your BNB balance at a discounted rate.
2. What happens during a "coin burn"?
Binance uses profits to buy back and permanently destroy BNB tokens, reducing total supply.
3. Can BNB be mined?
No, BNB is an ERC-20 token with a fixed supply; it cannot be mined.
4. What’s the role of BNB on Binance DEX?
BNB acts as the primary trading pair and liquidity token on Binance’s decentralized exchange.
👉 Learn more about Binance’s ecosystem
Note: Data is subject to market fluctuations. For real-time updates, refer to trusted crypto tracking platforms.
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