Total Coins: 4344
Total Market Cap: $ 17,214,374,173,658
24H Trade Volume: $ 6,457,934,019
Binance Coin (BNB)
BNB
$ 10.201 ( 4.24%)
Mkt. Cap.
$ 1.96 B
Vol. 24H
BNB 0 ($ 0)
Open 24h
$ 9.786
Low/High 24h
$ 9.735 - $ 10.505
Last trade
BNB 0 ($ 0) / Binance

Charts price for Binance Coin (BNB)

Loading chart ...
Loading chart ...
 

Description of Binance Coin (BNB)

Binance Coin Origin

Release Date: July 14, 2017.

BNB is a token belonging to the world’s largest cryptocurrency exchange, Binance. The token was released at the same time as the exchange launched. There was a maximum supply of 200 million BNB. Binance coin is of the ERC20 standard and built on the Ethereum Blockchain.

Binance Coin Functionality

The token can be used to pay transaction fees on the exchange. However, there is no obligation to do so. The decrease in fees equates to 50%. Additionally, the fees continue on to decrease, after the fifth year of use, there are no more fees.

However, along with this, it was expected that the price of BNB would decrease as well. To circumvent this issue, Binance will occasionally burn its own supply, which should reverse the effect of decreasing prices.

Binance recently announced that they plan to switch over to an in house built Blockchain. Which would certainly increase the value of the token exponentially. Additionally, the BNB token can be used to participate in ICO investing directly through Binance’s Launchpad program. Projects that complete their ICO will see their respective cryptocurrency being traded on Binance immediately after.

The Binance exchange has also recently announced that they will be making a move to Malta. A crypto friendly nation. Stemming from this, the exchange will also soon be implementing fiat pairings. So, the value of BNB is expected to rise.