BNB Key Metrics Overview
BNB (Binance Coin) remains one of the top cryptocurrencies by market capitalization. Here are the latest key metrics:
- BNB to USD: 1 BNB = $337.80
- Market Capitalization: $52.85 billion
- Circulating Supply: 155.86 million BNB
- 24-Hour Trading Volume: $692.85 million
- 7-Day Price Change: -1.20%
- 24-Hour Price Range: $337.50 - $339.59
Today's BNB Market Analysis
The broader digital currency market has recently experienced significant volatility, with sharp price swings becoming more common. After a period of corrective movement, BNB has shown signs of stabilization. At the time of writing, BNB is trading at $337.80, having rebounded from its daily low. Despite a slight recovery, the seven-day performance still shows a decline of over 1.20%.
This activity reflects the ongoing uncertainty and dynamic nature of the crypto asset class, where prices can be influenced by a wide array of global macroeconomic and sector-specific factors.
BNB Price in Chinese Yuan (CNY)
For investors tracking the local currency value:
- BNB Price Today: ¥2,345.94 CNY
- 24-Hour Trading Volume: ¥4,791,609,626 CNY
- Market Cap in CNY: ¥365,646,353,147 CNY
The price of BNB against the Chinese Yuan has increased by 2.07% in the past 24 hours. BNB currently holds the #4 rank by market capitalization among all cryptocurrencies.
Real-Time BNB Price Data
For the most up-to-date tracking:
- Current BNB Price: $338.62
- 24-Hour Trading Volume: $2,019,587.60
- 24-Hour Price Change: +1.83%
- Market Cap: $53,423,062,432.00
- Circulating Supply: 163,276,974 BNB
- Maximum Supply: 200,000,000 BNB
Real-time price data is essential for making informed decisions in the fast-moving crypto market.
BNB USD Performance Summary
| Time Frame | Price Change | Percentage Change |
|---|---|---|
| Today | + $7.29 | +2.20% |
| Last 7 Days | - $2.74 | -0.80% |
| Last 30 Days | + $10.73 | +3.28% |
| Last 3 Months | + $22.11 | +6.99% |
Understanding BNB (Binance Coin)
BNB is the native cryptocurrency that powers the expansive Binance ecosystem. Initially launched in July 2017 as an ERC-20 token on the Ethereum network during its ICO phase, its primary purpose was to offer users a discount on trading fees on the Binance exchange. Over the years, its utility has expanded far beyond its original design.
BNB is now the native asset of the BNB Chain, where it is used to pay for transaction fees, power decentralized applications (dApps), and participate in network governance. Its use cases extend to paying for travel, entertainment, and financial services through various partnered platforms. A core deflationary mechanism of BNB is its quarterly token burn, where Binance uses a portion of its profits to buy back and permanently destroy BNB tokens, reducing the total supply over time until it reaches 100 million.
What is Binance Coin (BNB)?
Binance Coin was introduced through an Initial Coin Offering (ICO) in 2017, just days before the Binance cryptocurrency exchange officially launched. It started with a maximum total supply of 200 million tokens, half of which were sold during the ICO. While it began as an ERC-20 token, it migrated to its own native blockchain, BNB Chain, in April 2019.
Today, BNB functions as a utility token. Users can enjoy discounted trading fees on the Binance exchange, participate in token sales on Binance Launchpad, and use it as the primary medium of exchange on the Binance DEX (decentralized exchange). Its integration into every facet of the Binance ecosystem makes it a versatile digital asset.
Is Binance Coin Mineable?
No, BNB is not a mineable cryptocurrency. Unlike proof-of-work (PoW) based assets like Bitcoin, the BNB Chain operates on a proof-of-staked-authority (PoSA) consensus mechanism. In this system, network security and transaction validation are handled by a set of elected validators. These validators are rewarded with transaction fees for their role in maintaining the blockchain, eliminating the need for energy-intensive mining.
What is the BNB Burn?
The BNB burn is a deflationary process designed to increase the token's scarcity over time. Initially, when BNB was an ERC-20 token, burns were executed via a smart contract on the Ethereum blockchain. The amount burned was tied to Binance's trading volume over the preceding quarter.
Since the transition to BNB Chain, the burn mechanism has evolved. Tokens are now destroyed using a specific on-chain command. The ultimate goal is to reduce the total supply of BNB from its original 200 million to 100 million, creating a predictable and transparent reduction schedule.
For those looking to dive deeper into on-chain metrics and real-time analysis, you can explore more strategies and data visualizations available on leading platforms.
Frequently Asked Questions
What is the main use case for BNB today?
BNB's primary use is to pay for transaction fees on the BNB Chain network, which offers users a significant discount. It is also widely used across the Binance ecosystem for trading fee discounts, participating in token sales, booking travel, and even paying for financial services.
How does the BNB burn affect its price?
The quarterly BNB burn permanently removes tokens from circulation, reducing the overall supply. If demand for BNB remains constant or increases while the supply decreases, this deflationary pressure can potentially have a positive impact on the token's price over the long term.
Can I use BNB outside of the Binance exchange?
Absolutely. BNB is accepted by a wide range of merchants and service providers for payments. Furthermore, it is the foundational asset for the entire BNB Smart Chain ecosystem, which hosts countless decentralized applications, games, and financial services.
What is the difference between BEP-2 and BEP-20?
BEP-2 is the token standard for the native Binance Chain, often used for sending and trading assets. BEP-20 is the token standard on the BNB Smart Chain, which is compatible with the Ethereum Virtual Machine (EVM) and is used for smart contracts and dApps. BNB exists on both networks.
Where is the safest place to store my BNB?
You can store BNB in a variety of wallets. For large amounts, a hardware wallet offers the highest security. For regular use, trusted software wallets like Binance Chain Wallet or MetaMask (for BSC) are popular options. Always ensure you download wallets from official sources.
How often does the BNB burn occur?
The auto-burn event occurs quarterly. The amount of BNB burned is determined by a transparent formula based on the price of BNB and the number of blocks generated on BNB Chain during that quarter, moving away from being based solely on Binance's trading profits.