What is BNB?
BNB, also known as Binance Coin, is the native crypto token of the Binance cryptocurrency exchange and associated blockchains such as Binance Chain and Binance Smart Chain.
A brief history of BNB
BNB was initially created as an ERC20 token on the Ethereum network in July 2017, when Binance launched its initial coin offering for the exchange it had built. The crypto token has since moved to Binance Chain as the latter’s native token in 2019. A parallel smart contract blockchain called Binance Smart Chain was created in 2020, also using BNB as its base token.
How BNB works
Binance created BNB with a 200 million BNB token supply, a figure that decreases over time due to quarterly token burns based on the company’s revenues and profits. The company said that this burning mechanism encourages token supply scarcity for the tokens. As it transitioned from an ERC20 token to the native asset on the Binance Smart Chain, BNB also became the basis of payment for the use of the blockchain to make smart contracts and the payment of fees for transactions. Recently, Binance introduced an auto-burn mechanism for its crypto token. Moving away from a quarterly burn schedule.
What is BNB used for?
Binance Coin started as an exchange token, through which people can pay fees for transactions on the Binance exchange, among other activities in the company’s other platforms. Since its transition to being the native token of the Binance Smart Chain, BNB was also used as payment for network fees on the blockchain, similar to ETH for the Ethereum platform.
FAQs
BNB's price today is US$586.16, with a 24-hour trading volume of $1.41 B. BNB is +1.08% in the last 24 hours. It is currently -4.71% from its 7-day all-time high of $615.16, and +1.82% from its 7-day all-time low of $575.68. BNB has a circulating supply of 147.57 M BNB and a max supply of 200 M BNB.
What is the realistic price prediction for BNB? ›
Based on your price prediction input for BNB, the value of BNB is projected to increase by 5%, potentially reaching $ 594.96 in the next 30 days.
How much is $1 BNB in USD? ›
How much is BNB smart chain in dollars? ›
Price of BNB today
The live price of BNB is $ 603.24 per (BNB / USD) with a current market cap of $ 89.03B USD. 24-hour trading volume is $ 1.94B USD. BNB to USD price is updated in real-time. BNB is -2.69% in the last 24 hours with a circulating supply of 147.58M.
How much is 1 BNB smart chain? ›
The price of converting 1 BNB (BNB) to NGN is ₦879,634 today.
Does Coinbase have BNB? ›
BNB (BNB) is not tradable on Coinbase.
Will BNB reach 1000 dollars? ›
Therefore, in 2024, the price of a BNB coin can reach a high of $1041. However, in an economic slowdown, the BNB crypto might form a low at $480, with an average price of $710.
Is it worth holding BNB? ›
Holding BNB (Binance Coin) in your account can offer several benefits. It's the native cryptocurrency of the Binance exchange, and some advantages include reduced trading fees, participation in token sales on the Binance Launchpad, and various utility within the Binance ecosystem.
What is BNB all-time high? ›
Which coin is the best to buy now? ›
What Crypto to Buy Now?
- Bitcoin (BTC) – The Most Popular Cryptocurrency in the World.
- Ethereum (ETH) – The Most Popular Platform to Create Web3 dApps.
- Solana (SOL) – A Faster, Cheaper, and More Secure Ecosystem.
- Ripple (XRP) – A Top Crypto That Aims To Replace The SWIFT System.
Convert Binance Coin to Bitcoin
| BNB | BTC |
|---|
| 100 BNB | 0.9717 BTC |
| 500 BNB | 4.86 BTC |
| 1,000 BNB | 9.72 BTC |
| 10,000 BNB | 97.17 BTC |
5 more rowsTop 10 Cryptos in 2024
| Coin | Market Capitalization | Current Price |
|---|
| Ethereum (ETH) | $422 billion | $3515 |
| Binance Coin (BNB) | $87 billion | $595 |
| Solana (SOL) | $66 billion | $143 |
| Ripple (XRP) | $27 billion | $0.499 |
6 more rows7 days ago
Transaction Speeds and Fees:
One of the most significant advantages of BNB is its high transaction speeds and low transaction fees. In contrast, ETH has been facing scalability issues, which have caused slower transaction speeds and higher transaction fees.
How to cash out BNB? ›
Sell Binance Coin for Fiat. Cash Out BNB in a Few Clicks
- Enter the amount of BNB that you wish to sell.
- Input the bank or card details where you'd like to receive your funds.
- Confirm the information to create your sell order.
- Send the exact amount of Binance Coin to the provided wallet address.
BNB to USD
| Amount | Today at 12:30 pm |
|---|
| 1 BNB | $608.97 |
| 5 BNB | $3,044.83 |
| 10 BNB | $6,089.66 |
| 50 BNB | $30,448.29 |
4 more rowsYou can convert 10 USD to 0.016851 BNB.
How much is 1 USD to BNB smart chain? ›
Will BNB go up? ›
Our real-time BNB to USD price update shows the current Binance Coin price as $601.16 USD. Our most recent Binance Coin price forecast indicates that its value will increase by 5.88% and reach $636.53 by June 22, 2024.
What is the price of BNB smart chain today? ›
BNB's current price is $604.66, with a 24-hour trading volume of $1.05B. BNB is -0.90% in the last 24 hours, with a circulating supply of 153.86M BNB coins and a maximum supply of 200.00M BNB coins.
What is the total supply of BNB? ›
BNB Price Data
The token has a circulating supply of 153.9M tokens out of a total supply of 153.9M tokens. BNB is the native token of the BNB Chain, a blockchain network closely related to Binance, one of the world's largest crypto exchanges.
Long-term Binance Coin price prediction for 2025, 2026, 2027, 2028, 2029 and 2030. Based on the historical price movements of Binance Coin and the BTC halving cycles, the yearly low Binance Coin price prediction for 2025 is estimated at $ 587.07.
What is the future price of BNB in 2040? ›
Coin Journal, which uses an automated technical analysis tool, predicts that BNB will reach $8,925 by 2040. According to TechNewsLeader, BNB will rise at an exponential rate between 2030 and 2040, reaching $116,312 by that time.
How much will 1 Bitcoin be worth in 2025? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 66,878.50 |
| 2026 | $ 70,222.43 |
| 2027 | $ 73,733.55 |
| 2030 | $ 85,355.80 |
1 more row