Binance is a top cryptocurrency exchange, and its token, Binance Coin (BNB), is very popular. Right now, the BNB price is $697.35 per (BNB / USD). It has a market value of $100.42 billion USD. The 24-hour trading volume for BNB is $2.81 billion USD, showing strong demand.
In the last 30 days, BNB’s value went up by 13.31%. Over 60 days, it rose by 16.73%, and in 90 days, by 22.02%. These numbers show BNB’s steady growth, making it a great choice for those in the crypto market.
Key Takeaways
- BNB, the native token of Binance exchange, is currently priced at $697.35 per (BNB / USD).
- The Binance Coin has a market capitalization of $100.42 billion USD and a 24-hour trading volume of $2.81 billion USD.
- BNB has shown strong performance, with price increases of 13.31% over the past 30 days, 16.73% over the past 60 days, and 22.02% over the past 90 days.
- Binance, the platform associated with BNB, has experienced significant growth, becoming the largest cryptocurrency exchange in the world within 180 days of its launch.
- BNB can be obtained through various means, including purchasing directly from Binance or trading for other cryptocurrencies on the Binance Exchange.
Understanding BNB: The Native Token of Binance Exchange
Binance Coin (BNB) has become a key player in the digital asset market since 2017. It’s the native token of the Binance exchange. BNB has many uses within the Binance ecosystem and beyond. Let’s explore its origins, main features, and how it works.
Origins and Development
BNB was first introduced through an Initial Coin Offering (ICO) from June 26th to July 3rd, 2017. Just 11 days later, the Binance Exchange opened. Initially, it was an ERC-20 token on the Ethereum blockchain. Later, it moved to the Binance Chain, now called the BNB Chain.
Core Features and Functionality
- BNB offers lower trading fees on the Binance exchange. This helps users save money when trading Bitcoin, altcoins, and other digital assets.
- The token powers the BNB Chain ecosystem. It makes transactions fast and cheap. It also helps in building decentralized applications (dApps).
- BNB can be used for many things. This includes online transactions, purchases, payments, loans, and donations.
Token Economics Overview
The initial supply of BNB was 200 million tokens. But, regular coin burns by Binance have reduced this number. These burns aim to lower the circulating supply, which could raise the value of BNB tokens.
As of May 2024, Binance has done 27 quarterly BNB burns. They destroyed 1.94 million BNB, worth $670.78 million.
The success of BNB is linked to the Binance exchange’s growth. It also depends on the bitcoin and altcoin markets. Investors watch the token’s market cap, trading volume, and price to see if it’s a good long-term investment.
Current BNB Market Performance and Price Analysis
BNB is the token of Binance, a big name in the virtual currency world. Right now, the price of BNB is $697.35 per token. Its market value is a huge $100.42 billion USD.
In the last 24 hours, BNB’s price dropped by 2.75%. The trading volume was $2.81 billion USD. But looking at longer periods, BNB’s story is more upbeat. In the last 30 days, its price went up by 13.31%. Over 60 and 90 days, the gains were 16.73% and 22.02% respectively.
There are 144.01 million BNB tokens in circulation. Binance’s token burn program has adjusted this number. This strategy has helped keep BNB’s value high by making it scarcer and more sought after.
“BNB’s strong performance over the past few months is a testament to the growing mainstream adoption of blockchain technology and the appeal of Binance’s virtual currency offerings.”
BNB is still a top choice for those looking to invest in blockchain and virtual currencies. Its market is worth keeping an eye on.
Historical Price Movements and Market Trends
BNB, the token of Binance, started in 2017. It was first sold during an ICO for 1 ETH or 1 BTC. Since then, it has grown a lot.
Key Price Milestones
BNB has hit many important price points. It reached its highest at $793.86 on December 4, 2024. Its lowest was $0.50 on November 6, 2017. In the last year, BNB’s value went up by 176.38%, showing it’s a strong choice for portfolio management.
Market Cap Evolution
BNB’s market cap has grown a lot since it started. It now has a market cap of $100.42 billion. This shows it’s very important in decentralized finance.
Volume Analysis
The trading volume of BNB shows its market activity. The 24-hour trading volume is $2.81 billion. This shows a lot of investor interest and activity.
“BNB has emerged as a key player in the decentralized finance space, with its impressive price movements and growing market cap showcasing its continued relevance and potential.”
Binance Stock Price: Real-Time Trading Data
At Binance, we offer detailed real-time data on the Binance Coin (BNB) price. The current binance stock price is $697.96. The 24-hour trading volume is $2,541,890,943.65.
BNB, the native token of Binance cryptocurrency exchange, can be traded against many cryptocurrencies and fiat currencies. This shows strong demand and interest in Binance Coin.
Our data shows BNB’s price has changed over time. In the last hour, the price went up by 0.14%. But in the past 24 hours, it dropped by 2.76%. Over the past week, it fell by 2.52%. However, in the last month, it rose by 13.68%. And in the past year, it surged by 160.25%.
The market capitalization of Binance Coin is $100,513,072,757.00, making it the 5th largest cryptocurrency. The circulating supply of BNB is 144,010,743 tokens. This adds to the asset’s liquidity and trading volume.
“The Binance Coin (BNB) metric shows an all-time high of $786.50, with a current price of $697.96.”
Investors and traders can watch the real-time binance stock price and trading on Binance. Our platform is designed for a smooth and secure trading experience.
Technical Analysis and Trading Indicators
Traders and investors need to understand technical analysis when using the crypto trading platform. Binance Coin (BNB), the token of Binance exchange, shows a mix of trading indicators.
Moving Averages
The technical look at BNB shows moving averages are neutral. The 10-day, 50-day, and 200-day averages suggest a balanced market. There are no clear buy or sell signals from this indicator.
Oscillator Signals
Oscillator indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) point to a neutral trend for BNB. The RSI is around 50, showing no signs of being overbought or oversold. The MACD lines are close together, indicating no strong direction.
Market Sentiment Analysis
The market sentiment for BNB is mixed. Altcoin prices have been steady, but trading volume and market trends don’t give a clear signal. Traders should look at these factors and fundamental analysis for their BNB trading plans.
Remember, technical analysis alone is not enough for investment decisions. Traders should also consider the crypto trading platform, market news, and other factors. This way, they can make better trading choices.
“Successful crypto trading requires a balanced approach, incorporating both technical and fundamental analysis. By understanding the nuances of trading indicators, traders can enhance their decision-making and navigate the BNB market with greater confidence.”
BNB Token Utility and Ecosystem Integration
The Binance Coin (BNB) is a versatile digital asset. It plays a key role in the Binance ecosystem. As the native token of the Binance Exchange, BNB has many practical uses.
One main use of BNB is to get discounted trading fees on the Binance Exchange. Users who hold and use BNB can save on fees. This makes it valuable for traders and investors.
BNB is also used for transaction fees on the BNB Beacon Chain and the BNB Smart Chain. This shows its importance in the Binance ecosystem.
BNB can be used to pay for goods and services, like travel bookings and token sales on Binance Launchpad. It also provides liquidity on the Binance Liquid Swap. Users can earn rewards through yield farming and DeFi activities.
Most importantly, BNB acts as a community utility token in the BNB Chain ecosystem. It lets users join various decentralized applications (dApps) and games. This makes the token more versatile and helps grow the Binance ecosystem.
“BNB’s utility extends far beyond the confines of the Binance Exchange, making it a vital component in the broader blockchain-based ecosystem.”
As Binance grows, the BNB token’s role will evolve. It will become even more important in the digital asset market and blockchain technology.
Market Cap Comparison with Other Cryptocurrencies
Binance Coin (BNB) is a top digital asset by market capitalization. It has a market cap of $100.42 billion, making it a leading virtual currency worldwide. This is according to CoinMarketCap.
Relative Market Position
BNB has shown strong growth compared to Bitcoin and Ethereum. While Bitcoin and Ethereum lead the market, BNB has found its place. It shows its value in the Binance ecosystem and wider crypto adoption.
Competitive Analysis
- Binance, the largest bitcoin price exchange, has helped BNB grow. It has played a key role in its adoption.
- Other big virtual currency exchanges like Gemini and Coinbase have their own tokens. But BNB stands out as a strong competitor.
- Exchanges focused on derivatives, like Huobi Global and FTX, are also popular. Yet, BNB’s role in the Binance ecosystem keeps it ahead.
BNB’s market cap and position show its importance in the digital asset world. As the crypto market changes, BNB’s growth and role in Binance will be key to its success.
Trading Volume and Liquidity Analysis
Binance’s native token, BNB, is a top choice in the crypto world. It has a 24-hour trading volume of $2.81 billion USD. This shows it’s very popular and has a lot of liquidity.
BNB is traded on many exchanges, but Binance is the main one. Binance Futures offers tools for high-frequency traders. These tools help understand the order book depth and quality.
The order book on Binance is deep, supporting large orders well. The Cost to Trade metric shows the expected price versus the actual price. This helps traders make better choices.
The Bid-Ask Spread shows how efficient Binance’s market is. Traders can customize the spread chart to see the top order book levels. This gives a clear view of market dynamics.
Binance stands out with its high trading volume and advanced tools. It’s a top choice for crypto trading platform and portfolio management. It’s favored by both crypto enthusiasts and big investors.
BNB Token Burns and Supply Dynamics
At Binance, we focus on keeping Binance Coin (BNB) valuable. We do this by regularly burning tokens, which reduces the total amount in circulation. This makes BNB scarcer and more valuable over time.
Impact on Price
The BNB token burns have boosted its price. Since 2017, we’ve burned over 50 million BNB tokens, worth nearly $12 billion. This has led to a 5x increase in BNB’s price since 2020. It shows the value of holding BNB long-term and the positive effect of burning tokens.
Future Supply Projections
The future of BNB’s supply is tied to our burn events. We have an auto-burn system that adjusts based on market changes. We plan to burn about 2.15 million BNB tokens in Q4 2023, reducing the total supply further. Our aim is to cut the total BNB supply to under 100 million, enhancing its value.
“The BNB auto-burn mechanism aims to reduce the total supply to below 100 million BNB, fostering sustained value creation for our token holders.”
Investors and traders should keep up with our BNB burn updates. Follow Binance CEO Changpeng Zhao on Twitter for the latest. Knowing how burns affect BNB can help investors make better choices in this cryptocurrency exchange and blockchain technology.
Investment Considerations and Risk Assessment
Investing in digital assets like BNB, the native token of the Binance exchange, comes with big risks. BNB has grown in value over time, but past success doesn’t mean future gains. It’s key to know its use, market standing, and Binance’s health before adding it to our portfolio.
How much risk we can handle is very personal. Self-assessment tools can show how we deal with market ups and downs. It’s vital to be true about how much risk we can take.
Spreading our investments across different cryptocurrencies helps manage risk. This way, if one investment goes down, others might balance it out. Our risk tolerance can change due to life events, so we need to keep our portfolio in check.
Getting advice from financial experts can help us understand our risk better. They consider our financial goals, current situation, and how well we know about investments like BNB.
“Diversification is the only free lunch in investing.” – Harry Markowitz, Nobel Laureate in Economics
Exploring the digital asset market, including BNB, means keeping a balanced portfolio. By checking our risk tolerance and getting expert advice, we can make smart choices that fit our financial goals.
BNB in the DeFi Landscape
BNB is the native token of the Binance ecosystem. It plays a big role in decentralized finance (DeFi). Binance Coin works well with DeFi protocols on the BNB Chain, formerly known as the Binance Smart Chain.
This connection lets users use BNB for different DeFi tasks. They can stake, provide liquidity, and take part in yield farming.
Integration with DeFi Protocols
The BNB Chain has a lively DeFi ecosystem. It has many decentralized applications (DApps) and projects. Users can use BNB to access these DeFi services.
These services include lending, borrowing, automated market making, and derivatives trading. The BNB Chain’s DeFi integration lets users enjoy decentralized finance benefits.
Yield Opportunities
- Binance offers many ways for BNB holders to earn. They can stake and provide liquidity for over 180 digital assets.
- Staking BNB lets users earn rewards and help govern the BNB Chain. They contribute to the platform’s growth and decision-making.
- The Binance ecosystem also lets users supply BNB as liquidity. This way, they can earn a share of trading fees in the BNB Chain’s DeFi protocols.
As the Binance Smart Chain grows its DeFi offerings, BNB’s value and utility will likely increase. BNB’s role in DeFi is key, thanks to its integration with DeFi protocols and the yield opportunities it offers.
Regulatory Environment and Compliance
At Binance, we face a complex regulatory world. We navigate the changing rules for cryptocurrency exchanges and blockchain technology. As a top cryptocurrency exchange, we make sure to follow local laws in every market we’re in.
Binance has been under scrutiny in many places. This has made us focus even more on following the rules. We use strong Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. These help us verify who our users are and watch their transactions, meeting global standards.
- In France, Binance France SAS is registered as a Digital Asset Service Provider (DASP) by the Autorité des Marchés Financiers (AMF).
- In Australia, InvestbyBit Pty Ltd (trading as “Binance Australia”) holds a Digital Currency Exchange (DCE) provider registration by AUSTRAC.
- In Japan, Binance Japan Inc. is regulated by the Japan Financial Services Agency (JFSA) as a Crypto Asset Exchange Service Provider.
- In Thailand, Gulf Binance Co., Ltd. has obtained digital asset operator licenses by the Securities and Exchange Commission.
- In El Salvador, Binance El Salvador S.A. de C.V. holds a Digital Asset Services Provider (DASP) license and a Bitcoin Services Provider (BSP) license.
- In South Africa, Brickhouse Trading Ltd and Binance Bahrain BSC © provide Futures and Options as Juristic Representatives of FiveWest OTC Desk (Pty) Limited.
The regulatory landscape for cryptocurrencies keeps changing. These changes can affect how people use and value Binance Coin (BNB), our token. We’re dedicated to adjusting our ways to meet new rules in the markets we’re in. This ensures a safe and legal place for our users.
“Regulatory compliance is a key focus for Binance Coin in the UK, ensuring adherence to evolving cryptocurrency regulations and maintaining a secure environment for investments.”
We aim to earn trust from our users, the authorities, and the blockchain technology world. By being compliant, we want to be seen as a leading and responsible exchange.
Conclusion
Binance Coin (BNB) has become a key player in the crypto market. Its price of $715.29 and market cap of $100.42 billion show its strong position. It’s a big part of the binance stock price scene.
BNB is useful in the Binance ecosystem. It also has a token burn mechanism. This makes it valuable in the crypto trading platform world.
Investing in BNB can be promising, but it comes with risks. Market ups and downs, legal changes, and security issues are important to think about. We suggest keeping up with Binance news and crypto trends.
In summary, Binance Coin is a top cryptocurrency. It has real-world use, price growth potential, and ties to the binance stock price and crypto trading platform worlds. As the crypto market grows, BNB’s future is linked to Binance’s success and the digital asset world.
FAQ
What is the current price of BNB?
BNB’s live price is 7.35 per (BNB / USD) with a market cap of 0.42B USD.
What is the 24-hour trading volume of BNB?
The 24-hour trading volume for BNB is .81B USD.
How has BNB performed over different time periods?
BNB has shown significant growth. It has increased by +13.31% in 30 days, +16.73% in 60 days, and +22.02% in 90 days.
When was BNB launched and what was its initial supply?
BNB was launched through an ICO from June 26th to July 3rd, 2017. It had an initial supply of 200 million coins.
What are the key use cases of BNB within the Binance ecosystem?
BNB is used for several things. It reduces trading fees on Binance exchange. It’s also used for transaction fees on BNB Beacon Chain and BNB Smart Chain. You can use it for payments, booking travel, and participating in token sales on Binance Launchpad. It’s also used for providing liquidity on Binance Liquid Swap.
What is the current market cap and ranking of BNB compared to other cryptocurrencies?
BNB has a market cap of 0.42B. This places it among the top cryptocurrencies globally. It has shown strong performance and growth compared to Bitcoin and Ethereum.
How does BNB’s trading volume and liquidity compare to other cryptocurrencies?
BNB’s 24-hour trading volume is .81B USD. This indicates high liquidity. It shows active trading and strong market interest.
How does Binance manage the BNB token supply?
Binance conducts regular “coin burns.” This reduces the total supply of BNB. The initial supply was 200 million, but it’s continually decreasing. The current circulating supply is 144.01M BNB.
What are the key risks and considerations for investing in BNB?
Investing in BNB carries high market risk and price volatility. Investors should consider BNB’s utility, market position, and the overall health of the Binance ecosystem. It’s also important to consult financial advisors before investing.
How is BNB integrated into the DeFi landscape?
BNB plays a significant role in the DeFi landscape. It’s integrated with various DeFi protocols on the BNB Chain. Users can stake BNB, provide liquidity, and participate in yield farming.
How does the regulatory environment impact Binance and BNB?
Binance and BNB operate in a complex regulatory environment. Binance has faced regulatory scrutiny in various jurisdictions. The company emphasizes compliance efforts, including KYC and AML procedures. Changes in the regulatory landscape can impact BNB’s usage and value.
