BNB Key Metrics Overview
Here are the essential Binance Coin statistics in a clear Markdown table:
| Metric | Value |
|---|---|
| Coin Rank | #20 |
| Mineable | No |
| Token Platform | Ethereum (ERC-20) |
| All-Time High | $793.90 |
| All-Time Low | $0.0979 |
| Circulating Supply | 154,532,785 BNB |
| ICO Price | N/A |
| Token Type | Utility Token |
| Release Date | July 8, 2017 |
BNB Price Live Data
The current Binance Coin price is $659.96 USD with a 24-hour trading volume of $161.99 million USD. BNB has shown a -0.59% price movement in the last 24 hours.
Understanding Binance Coin (BNB)
Binance Coin serves as the native cryptocurrency of the Binance ecosystem, the world’s leading cryptocurrency exchange by trading volume. Created by prominent industry figures including Changpeng Zhao (CZ), BNB has evolved from a simple exchange token to a multifaceted digital asset with numerous use cases.
Core Utility Functions
- Exchange Fee Discounts: Traders using BNB for transaction fees receive progressive rebates over 5 years
- Quarterly Coin Burns: Binance systematically destroys 20% of profits in BNB until 50% of total supply is eliminated
- Cross-Asset Liquidity: Functions as a base trading pair across Binance’s spot and futures markets
Expanding Ecosystem
- Binance Chain: Powers the decentralized Binance DEX with BNB as its foundational asset
- Launchpad Platform: Exclusive token sale platform requiring BNB for participation (e.g., BitTorrent’s BTT sale)
- Payment Integration: Accepted by various merchants and service providers globally
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BNB Market Dynamics
The token maintains strong liquidity, primarily concentrated on Binance exchange platforms. With the growth of Binance’s decentralized exchange (DEX), BNB’s utility continues expanding across both centralized and decentralized finance landscapes.
Future Developments
Binance consistently innovates with new BNB applications:
– Enhanced staking rewards
– Cross-chain interoperability features
– Expanded merchant adoption programs
– Governance mechanisms for decentralized decision-making
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Frequently Asked Questions (FAQs)
What makes BNB different from other exchange tokens?
BNB stands out due to Binance’s industry dominance, regular token burns reducing supply, and expanding utility across DeFi, payments, and token launch platforms.
How often does Binance conduct BNB burns?
Binance executes quarterly burns, permanently removing BNB from circulation based on exchange profits, with a target of eliminating 50% of total supply.