Binance is one of the biggest cryptocurrency exchanges in the world, and in July 2017 it released its very own cryptocurrency named Binance Coin (BNB). Binance Coin now makes up 3% of the total value of the biggest 250 cryptocurrency coins as of October 2021.
While its current value is not much compared to the crypto giants, Binance Coin garnered a lot of attention when its price almost reached $900 back in May 2021. The current price of Binance Coin is $457.78, which is 36% higher than what it was just one month ago.
All prices are quoted in US dollars.
The chart above is an index that compares the performance of both Binance Coin and Bitcoin over the last 90 days. An increase in the index from 100 to 110 would represent a 10 percentage point increase in the value of that coin. Bitcoin has increased by 45% over the last 3 months while Binance Coin has increased by 40% over the same period.
Over the last 24 hours, the price of Binance Coin has changed by -$27.53, with a 24-hour low of $449.11 and a high of $485.30. The number of Binance Coin currently in circulation is 168,137,036, with a maximum supply of 170,532,785.
Binance Coin is the third biggest cryptocurrency in terms of market capitalisation (total value in existence) and there is currently $77 billion worth of Binance Coin out in the wild. Binance Coin surpassed a market cap of $100 billion for the first time in April 2021. Bitcoin, the most popular cryptocurrency, has a market cap of $1,114 billion.
Over the last 24 hours, there has been $2 billion worth of Binance Coin traded. The graph below depicts the volume of Binance Coin traded daily. This figure can be somewhat volatile, with $1 billion being traded on one of its worst days and $5 billion on one of its best.
The price of Binance Coin can also be very volatile with many external factors coming into play, from high-profile celebrities tweeting about coins to countries outright banning the use of cryptocurrencies for domestic purchases. While there are some excellent guides out there covering how to invest in Binance Coin, it would be wise to invest with caution.
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