Binance Coin (BNB) is the native token 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 in the top 1,000 cryptocurrencies in the world by market cap, valued at $89,276,781,926. The current price of BNB is $580.32, which is -0.428%
lower than yesterday. Prices have ranged between $589.06 and $578.61 over the past 24 hours. All prices are listed in US dollars and accurate as of July 24, 2024 08:07 UTC.
Recent BNB developments
30 April, 2024: Former Binance CEO Changpeng Zhao (known as CZ) was sentenced to 4 months in prison. He pleaded guilty to US money-laudering violations. 3 October, 2023: Binance's regulatory issues are ongoing: In September, Binance asked a US court to dismiss the SEC lawsuit, lost its banking partner in France, and the firm was pressured into selling its Russian business. 1 September, 2023: opBNB, a layer-2 network for Binance Chain goes live on the mainnet. June 19, 2023: BNB Chain launches opBNB, a layer-2 testnet based on Optimism, which is a layer-2 scaling solution for EVM-compatible blockchains.
How we keep this BNB guide up-to-date
BNB price data is regularly updated through data feeds so you always have the latest information.
BNB performance data is regularly updated using automated comparisons.
BNB at a glance
Information last updated July 24, 2024 08:07 UTC.
Coin symbol
BNB
Coin Marketcap
US$89,276,781,926
Total BNB supply
153,856,150
Circulating BNB
153,856,150
Current price
US$580.32
All time high
US$717.48
All time high date
June 06, 2024
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
BNB price performance over time
Historical prices compared with the price of US$580.32.
1 hour
0.11%
24 hours
-0.43%
7 days
1.40%
14 days
10.84%
30 days
4.56%
60 days
-3.63%
200 days
89.61%
1 year
143.93%
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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