Binance Coin - BNB Price in USD, Market Cap, Volume (24h), and Ranking
Top 10 BNB Markets
| # | Exchange | Pairs |
|---|---|---|
| 1 | Binance | BNB/FDUSD BNB/USDT |
| 2 | Bybit | BNB/USDT |
| 3 | OKX | BNB/USDT |
| 4 | KuCoin | BNB/USDT |
| 5 | Gate.io | BNB/USDT |
| 6 | HTX | BNB/USDT |
| 7 | MEXC | BNB/USDT |
| 8 | Bitget | BNB/USDT |
| 9 | Binance TR | BNB/USDT |
| 10 | Binance.US | BNB/USDT |
Binance Coin (BNB) - More about BNB
Introduction
Binance Coin (BNB) is a cryptocurrency that was launched by the popular cryptocurrency exchange, Binance. It serves as the native token of the Binance ecosystem and has gained significant popularity among traders and investors in the crypto space. BNB was initially created on the Ethereum blockchain as an ERC-20 token but later migrated to its own blockchain, known as Binance Chain.
Detailed Explanation
Binance Coin (BNB) was created in 2017 as part of the initial coin offering (ICO) for the Binance exchange. The purpose of BNB was to provide users with discounted trading fees when using the platform, incentivizing them to hold and use the token within the Binance ecosystem. Over time, BNB has evolved into a multifaceted utility token with various use cases beyond just trading fee discounts.
One of the key features of BNB is its role in powering decentralized finance (DeFi) applications on the Binance Smart Chain. Users can stake or lock up their BNB tokens to participate in yield farming, liquidity provision, and other DeFi activities on the platform. Additionally, holders of BNB have access to various benefits such as participation in token sales on Binance Launchpad, voting rights in community initiatives through Binance's decentralized governance system, and more.
Overall, Binance Coin has become an integral part of the broader cryptocurrency ecosystem due to its utility within the rapidly growing Binance platform. As Changpeng Zhao, CEO of Binance, once said: "BNB is not just a utility token; it’s also an investment."
References / Citations / Resources
Changpeng Zhao (@cz_binance). "BNB is not just a utility token; it's also an investment." Twitter, 22 May 2021, twitter.com/cz_binance/status/1396118812196507136
