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Wrapped BNB (WBNB) is the 2631st largest cryptocurrency in the world by market cap. The current price of Wrapped BNB is $274.89618981351, which is 2.718% higher than yesterday. Prices have ranged between $333.64 and $317.17 over the past 24 hours. All prices are listed in US dollars and accurate as of February 03, 2023 12:02 UTC.
Binance Coin or BNB is the native cryptocurrency of the Binance exchange. The Binance exchange is one of the largest cryptocurrency exchanges in the world.
Binance Coin was initially built as an ERC-20 token on the Ethereum blockchain and was used by traders to access discounted trading fees on the exchange.
After the development of the native Binance Chain (BC) in 2019, BNB was also used to pay transaction fees on the blockchain network. The cryptocurrency exchange continued to grow and now BNB can also be used for online and financial services, travel bookings and even entertainment.
Following the success of the BC, the Binance Smart Chain (BSC) blockchain was launched in 2020. The BSC is aimed at smart contract functionality for decentralized application development. The token standard on the BSC is BEP20, which BNB does not conform with. Therefore, wrapped BNB (wBNB) was created as a token compatible with the Binance Smart Chain but that remains pegged to BNB at a ratio of 1:1. wBNB can be used on many dapps within the Binance Smart Chain ecosystem.
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