The Binance Coin price is currently $ 24.44 with a 24-hour trading volume of $ 650.37M across 65 exchanges. The BNB price is up 3.27% in the last 24 hours. The Binance Coin price prediction sentiment is currently neutral. Binance Coin reached its highest price on June 22, 2019, when it was trading at its all-time high of $ 39.45. It has a circulating supply of 144.41M BNB with a total supply of 189.18M BNB. The best exchange for trading Binance Coin is Binance.

Binance Coin (BNB) is a cryptocurrency that was sold in an initial coin offering (ICO) by the Binance cryptocurrency exchange. Binance raised around $15 million through its ICO by selling 100 million BNB tokens (half of the total supply).

Key Binance Coin features:

Issued in 2017 by the Binance cryptocurrency exchange

Holding the token provides trading fee discounts on the Binance exchange

Native asset of the Binance Chain blockchain

The Binance exchange was launched in July of 2017 - with the exchange’s rapid rise to the top of the industry, the BNB cryptocurrency has also quickly advanced up the market cap rankings.

Originally, BNB existed on the Ethereum blockchain as an ERC-20 standard token. However, the tokens were migrated to their own blockchain called Binance Chain in 2019. BNB functions as a native asset of the Binance Chain blockchain, and it is necessary to pay for certain Binance Chain operations such as paying fees on Binance DEX or creating new assets.

Holding BNB on the Binance exchange gives traders certain benefits – trading fees are 25% lower if paid in the form of BNB, and holding the coin is also necessary to enter token sales on Binance Launchpad. However, the 25% discount will likely be lowered in future years.

Every quarter, Binance burns a portion of their BNB holdings with the eventual goal of cutting the maximum BNB supply from 200 million to 100 million. Since it started as an Ethereum-based ERC-20 token, BNB is not mined, but the entire supply of 200 million was minted at launch.

Binance is trying to expand the utility of BNB by securing partnerships with various service providers who accept BNB as payment. BNB can of course be traded on Binance, but its popularity has resulted in other exchanges also listing the coin.

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