BNB bnb Price
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- ETH 0.18
BNB Price chart
|CATEGORY categories||BNB Price $309.82||All-time high $686.31||Days since ATH 686|
|Price change -$19.6 (-5.9501%)||Date of ATH May 10, 2021||% of ATH 45.45%|
Binance Coin (code: BNB)
Founded Date: 3 July, 2017
Binance Coin(BNB) - Coin Trading Data
|Value 24h low||$306.46|
|Value 24h high||$329.72|
|Trade Volume for 24h||$978.76M|
|Current Circulating Supply||157.9M|
|ICO Price and ICO ROI||0.1 USD 3098.2x|
|Price Change 24h %||-5.9501%|
Binance Coin(BNB) ATH - All Time High Price
|BNB ATH Price||$686.31|
|Days Since ATH||686|
|ATH Date||May 10, 2021|
|All Time High %||45.45%|
Table of contents
- Stock Market Price Graph Today
- Current Value and Cost
- All Time High Price
- Binance Coin Profile
- History of Binance
- Regular Coin Burning
- Mining BNB
- BNB Evolution
- Binance's Biggest Hack
- Advantages and Disadvantages of Binance Coin
- Why Did Binance Coin's Price Grow So Much?
- Exchange Rates on Trading Markets
Binance Coin Profile
The main difference between Binance Coin and other cryptocurrencies is that it is a currency for the largest exchange Binance, which provides a variety of opportunities for its use. For example, with the help of BNB tokens you can pay the commission for buying and selling cryptocurrencies when trading on the Binance exchange, which gives you a discount on the size of your commission.
It can also be used to pay fees for transfers and withdrawals from the exchange, buy digital currencies available for trading on the exchange, store tokens and get extra income for it, and borrow cryptocurrency and leave BNB tokens as collateral.
In addition, this token is used as a native token during IEO on Binance Launchpad, and, in contrast, to convert other cryptocurrency leftovers: you just click a button and turn them into some amount of BNB, without paying any commission.
The cryptocurrency exchange Binance itself appeared in 2017, offering users a number of advantages compared to the existing sites at the time. For example, it offered a revolutionary scheme for exchanging one cryptocurrency for another. In addition, users received round-the-clock support service, user-friendly controls, low commissions, and high transaction speed.
BNB Chain Tech Roadmap
History of Binance
Changpeng Zhao, the founder of Binance, a programmer from China, started his cryptocurrency activities back in 2014 with an unsuccessful investment in bitcoin. Nevertheless, four years later, Changpeng Zhao appeared on the cover of Forbes, ranking third on the list of people who became cryptocurrency billionaires. And in 2022, Changpeng Zhao became the richest man in the cryptocurrency world according to Bloomberg. His fortune is valued around $96 billion.
In July 2017, he organized an Initial coin offering, which resulted in the sale of 100 million coins. After the ICO ended, it turned out that a total of $15 million in investments had been raised. The new crypto exchange was named after the merging of the two English words Binary and Finance. As a result, Binance Coin gave Changpeng Zhao the opportunity to create a highly successful centralized business. In 2018, quarterly profits were already estimated at hundreds of millions of USD.
Regular Coin Burning
Once every three months, Binance exchange removes coins from circulation, during which the exchange spends 20% of its quarterly profit to purchase tokens, after which the developers destroy these tokens without the possibility of their recovery. A total of 100,000,000 tokens will be withdrawn from circulation in such a way.
This is how the exchange administration is dealing with the devaluation of its coins. This method began when the cryptocurrency BNB switched to its own blockchain, Binance Chain. Since then, the creator of the exchange set a goal to decrease the number of issued coins by half, thanks to which the BNB coin is growing in value. As a result, the remaining coins will be used as fuel for the system's vitality in Binance.
You are not able to mine BNB as a proof-of-work cryptocurrency because the Binance blockchain uses proof-of-stake Byzantine Fault Tolerance (BFT) consensus mechanism.
Approximately 200 million coins have been released in total, most of them distributed among the creators, investors (who invested during the ICO gathering) and project sponsors. There are currently no plans to release new coins, so there is no way to get them other than by purchase.
Binance launched 28 fiat channels this year, and as a result, users can buy BNB in 46 fiat currencies using different payment methods, including debit card, credit card and bank transfer. This is a very important stage for the acceptance of the whole crypto industry.
With BNB you can not only book hotels, bars, flights, cafes and restaurants, but also buy things online and even take credit. According to the latest information, BNB currently has more than 200 different uses, and more than 150 cryptocurrencies support BNB around the world.
In addition, third-party exchanges are also adding support for the BNB token, for example, Bithumb Global, the largest cryptocurrency exchange in South Korea, has launched a trading pair BNB/USDT, which has certainly helped to popularize the token.
At the beginning of 2022, Binance announced that BNB would become a bridge in the merger of two projects: Binance Chain and Binance Smart Chain. The common network was named BNB Chain and became compatible with Ethereum blockchain. The project supports smart contracts and decentralized applications (DApps). It is also possible to store a BNB coin in this chain and earn some interest.
Binance's Biggest Hack
On October 7, 2022, cryptocurrency exchange Binance has temporarily suspended transfers and other transactions after it discovered a vulnerability in its blockchain-based Smart Chain (BSC) network. Because of this vulnerability, attackers were able to steal between $100 million and $110 million, according to Engadget.
Advantages and Disadvantages of Binance Coin
|Pros of Binance Coin||Cons of Binance Coin|
|The commission discount motivates investors to use BNB when they pay commissions, and so increases the demand for this coin. However, this discount will not last forever; after 4 years of use, it will disappear.||The limited functionality of the coin. Since the main purpose of this coin is to make inner payments, although the cryptocurrency is available and tradable with a huge number of currency pairs, it cannot be used outside of cryptocurrency exchange.|
|There are many different currency pairs with BNB. All coins available on Binance can be bought quickly without any problems using BNB.||Exposure to hacking attacks. Binance exchange is quite often threatened by hacking and phishing attacks, and was successfully hacked in 2022.|
|The speed of transactions and high technology also boost demand for BNB. Approximately, the exchange processes approximately 1.5 million transactions every second.||Dependence on the Binance exchange. One of the biggest disadvantages of BNB is that its growth is directly connected to the reputation of the Binance exchange. This means that it is very difficult for this cryptocurrency to move forward on its own, and any problems at Binance have a direct impact on BNB's reputation.|
|Destruction of coins directly affects the cryptocurrency rate: burning decreases the volume with increasing demand for BNB and in this way creates a deficit, which increases the rate of this cryptocurrency.|
Why Did Binance Coin's Price Grow So Much?
In general, we can distinguish three reasons.
- The first one is the popularity of the creator of Binance, Changpeng Zhao. This person has a lot of experience in various structures: he worked at Bloomberg Agency, at the Tokyo Stock Exchange, as well as developed software for traders.
- The second thing is the popularity of the Binance exchange itself. Millions of people use its services, and therefore they have to deal with BNB.
- The third reason can be called an aggressive and creative marketing of this project.
Q&A For Binance Coin Cryptocurrency
How much is a one BNB worth now?
1 BNB worth $309.82 now.
What is the price of bnb?
The price of bnb is $309.82.
What is the BNB max supply?
The max supply of BNB is 157.9M.
What is the BNB stock symbol or ticker?
The stock symbol or ticker of BNB is bnb.
How many bnb coins are there in circulation?
There are 157.9M coins in circulation of bnb.
What is the exchange rate of BNB(bnb)?
The exchange rate of BNB is $309.82.
What was BNB's trading volume in 24 hours?
BNB's 24-hour trading volume is $978.76M.
What was the highest price paid for BNB?
BNB reached a record high of $686.31 on May 10, 2021
BNB Exchange Rates on Trading Markets
|#||Exchange||Pair||Price||24h volume||Volume %||Updated|
|1||Binance||BNB/USDT||$308.46||$179.1M||18.76%||54 minutes ago|
|2||CoinDCX||BNB/USDT||$312.85||$155.85M||16.33%||6 hours ago|
|3||Nami.Exchange||BNB/USDT||$309.7||$62.4M||6.54%||15 minutes ago|
|4||Azbit||BNB/USDT||$309.35||$61.69M||6.46%||43 minutes ago|
|5||Vindax||BNB/USDT||$307.56||$58.08M||6.08%||30 minutes ago|
|6||Binance||BNB/BUSD||$308.52||$50.3M||5.27%||an hour ago|
|7||BiONE||BNB/USDT||$321.16||$35.16M||3.68%||10 hours ago|
|8||Binance||BNB/BTC||$309.17||$21.87M||2.29%||56 minutes ago|
|9||CoinDCX||BNB/BTC||$312.68||$16.06M||1.68%||6 hours ago|
|10||Vindax||BNB/BTC||$307.43||$12.34M||1.29%||an hour ago|
|11||Vindax||BNB/ETH||$305.31||$11.67M||1.22%||18 minutes ago|
|12||Tidex||BNB/USDT||$312.84||$10.71M||1.12%||6 hours ago|
|13||BitMart||BNB/USDT||$313.36||$9.5M||0.99%||6 hours ago|
|14||P2B||BNB/USDT||$309.37||$9.39M||0.98%||6 minutes ago|
|15||Bitrue||BNB/USDT||$312.83||$9.15M||0.96%||6 hours ago|