Introduction to Binance Coin (BNB)
BNB (Binance Coin) is the native cryptocurrency of Binance, one of the world's largest cryptocurrency exchanges. Launched on July 26, 2017, BNB serves as the backbone of the Binance ecosystem with a maximum supply capped at 200,000,000 tokens.
Core Features of BNB:
- Utility Token: Used for trading fee discounts (up to 50% savings), payments via Monaco Visa/Uplive, and DeFi ecosystem participation.
- Deflationary Model: Binance conducts quarterly burns of 20% profits to reduce supply, enhancing token scarcity.
- Market Position: Currently ranked #3 by market cap ($925.7B) with 14.1M BNB in circulation.
👉 Discover how BNB fuels the Binance Smart Chain
BNB Tokenomics Breakdown
| Metric | Value |
|---|---|
| Total Supply | 200,000,000 BNB |
| Circulating Supply | 14,088,500 BNB |
| Current Price | $657.12 (24h -0.73%) |
| 24h Trading Volume | $533.26M |
BNB Founder Profiles
- Changpeng Zhao (CZ): Former OKCoin CTO turned billionaire within 180 days. Featured on Forbes' 2018 cover as the #3 crypto billionaire.
- He Yi: Ex-VP of Yixia Technology (creator of popular apps like Miaopai). Co-founded Binance after leaving OKEx.
Key Use Cases for BNB
- Exchange Benefits: Reduced trading fees on Binance.
- Payment Integration: Accepted by Monaco Visa and Uplive for services/gifts.
- DeFi Participation: Governance and staking across Binance Smart Chain projects.
👉 Explore BNB's latest price trends
Frequently Asked Questions (FAQs)
What makes BNB unique among exchange tokens?
BNB combines utility (fee discounts, payments), scarcity (burn mechanism), and ecosystem integration (Binance Smart Chain).
How often does Binance burn BNB?
Quarterly burns occur using 20% of Binance's profits until 100M BNB are destroyed.
Where can I spend BNB?
Major platforms include Monaco Visa, Uplive, and select Binance-partnered merchants.
Why did BNB's price surge historically?
Exchange growth, burning mechanism, and expanding utility drive demand against a shrinking supply.
Final Thoughts
BNB exemplifies how exchange tokens can evolve into multifaceted ecosystem assets. Its deflationary model and real-world adoption position it as a benchmark in crypto economics. For deeper analysis, monitor on-chain metrics like holder distribution and burn rates.
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