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BNB (BNB) price, chart, coin profile and news

Find the latest BNB (BNB) price, coin profile, news and history to get you started with BNB trading and investing.

BNB
BNB- USD
$325.78
- $6.10 ( - 1.84%)
MULTICOIN-CAPITAL-PORTFOLIO

What is BNB?

Binance Coin (BNB) is the token native 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 $44,537,876,543. The current price of BNB is $330.15, which is 0.562% higher than yesterday. Prices have ranged between $334.08 and $327.75 over the past 24 hours. All prices are listed in US dollars and accurate as of February 05, 2023 05:02 UTC.


Recent BNB developments

12 October, 2022: Binance completed a hard fork on the BNB Smart Chain. The hard fork was a solution to the exploit that caused an estimated loss of US$100 million on Oct 6. The intention was not to replace the missing funds from the network but to prevent the exploit from reoccurring. The price of BNB was largely unaffected, dropping about 5% over the course of the week – in line with general market movement.
6 October, 2022: BNB Smart Chain was successfully exploited when a hacker created 2 million BNB tokens worth approximately US$570 million out of thin air. The cybercriminal then attempted to exchange the coins for other cryptocurrencies and transfer them off the network. However, they were unable to withdraw the full amount due to the quick response of validator nodes halting the network – an estimated US$100 million was taken.

What is Cardano?

ADA is the native cryptocurrency of the Cardano blockchain. The primary use of the coin lies within the network's proof-of-stake mechanism.

This involves token holders locking away (staking) ADA coins to validate transactions and secure the blockchain.

A transaction fee must be paid in ADA when using the Cardano blockchain. This allows validators in the network to complete the transfer within Cardano's settlement layer (see below for more details). All applications that are built on the Cardano blockchain will use ADA for transactional fees.

The coin also carries monetary value and, therefore, can be used to transact between friends, pay for goods and services and deposit funds on an exchange or decentralised application.

The supply of tokens is capped at a maximum of 45 billion ADA. Cardano is being built with two layers – the Cardano Settlement Layer and the Cardano Computation Layer. The two layers provide the flexibility businesses need to tailor smart contracts to their requirements.

  • Cardano Settlement Layer. The settlement layer acts as the platform's balance ledger. It uses a proof-of-stake (PoS) algorithm to generate new blocks and confirm transactions.
  • Cardano Computation Layer. The execution layer for smart contracts. The Cardano team will soon be launching a new programming language (Plutus) that will be used to build smart contracts.

Instead of using a proof-of-work consensus algorithm like Bitcoin, Cardano uses a proof-of-stake algorithm called Ouroboros. Under this system, blocks are generated and transactions verified by slot leaders, or validators. Anyone who holds ADA tokens can become a slot leader, with slot leaders randomly chosen using a coin-flipping protocol.

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BNB (BNB) price

Use our graph to track the performance of (BNB) over time.

BNB at a glance

Information last updated February 05, 2023 05:02 UTC.
Coin symbol BNB
Coin Marketcap US$44,537,876,543
Total BNB supply 157,219,629
Circulating BNB 134,940,327
Current price US$330.15
All time high US$686.31
All time high date May 10, 2021
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$330.15.

1 hour 0.19%
24 hours 0.56%
7 days 7.91%
14 days 10.43%
30 days 28.73%
60 days 13.77%
200 days 23.01%
1 year -17.47%

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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