-0.62%

Market Change

$1 533 025 827 542.76

Total Market Cap

$152 636 810 806.20

Total Volume

16071

Cryptocurrencies

3 GWEI

8 GWEI

10 GWEI

Ethereum gas price

43.04%

BTC Dominance


Binance Coin (BNB)
Binance Coin

BNB -0.51%

24h Change

$51 820 159 707.49

Market Cap

$1 733 429 333.80

24h Volume

$336.56

Current Price

Tech Specs

Last historical data: 2021-01-22T08:14:09.000Z

Decimal places: 0

Algorithm: N/A

Prooftype: N/A

Country origin:

Genesis date: 2017-07-08

Liquidity score: 69.428

Publi interest score: 3.191

Community score: 62.902

Developer score: 77.23

Coingecko score: 63.752

Market cap rank: 11

Coingecko rank: 10

Alexa rank: 888

Bing matches: 0

Binance Coin (BNB)

Binance Coin is the cryptocurrency of the Binance platform.

It is a trading platform exclusively for cryptocurrencies.

The name "Binance" is a combination of binary and finance. Thus, the startup name shows that only cryptocurrencies can be traded against each other.

It is not possible to trade crypto currencies against Fiat.

The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters.

The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing. In total, there will only be 200 million BNBs.

Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors.

The coin can be used to pay fees on Binance.

These include trading fees, transaction fees, listing fees and others.

Binance gives you a huge discount when fees are paid in BNB.

The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount.

This structure is used to incentivize users to buy BNB and do trades within Binance. Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018.

The coins are then burned.

This means that they are devaluated to increase the value of the remaining coins.

This benefits investors.

In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas. Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.

Binance Coin is used for trading on the Binance exchange.

When using Binance Coin you will receive a discount on the fees you need to pay.

Binance aims to create a Decentralized Exchange (DEX) where Binance coin will function as the underlying token.

Binance Coin is built on the Ethereum blockchain.