|Volume / Market Cap||0.0269|
|Total Supply||165,116,761 BNB|
|Max Supply||165,116,760 BNB|
BNB is currently trading at $464.02, after a price change of -1.42% in the last 24 hours.
Ranked as cryptocurrency #4 by capitalization today, BNB market cap is valued at $76,617,131,461. BNB trading volume reached $2,062,010,511 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on BNB coin price prediction page.
What is Binance Coin?
Binance Coin is the crypto coin introduced by the Binance exchange that serves as an instrument for paying business fees, listing fees, and exchange fees. It was launched in 2017 by Changpeng Zhao, a Chinese-Canadian business executive. In September 2020, the coin was shifted to the Binance Smart Chain, a blockchain environment that promotes smart contracts.
Binance Coin or BNB serves as a native coin of Binance and it lets individuals get better rates for trading commissions. It follows a token-burning mechanism where the profits gained from the sale of assets are used to buy more tokens, which are then destroyed. Those who hold this coin get enhanced commission on the exchange’s referral program and can invest in new projects supported by the exchange.
This crypto coin is based on the proof of authority mechanism. Unlike proof of stake and proof of work, this mechanism requires the transaction validators to confirm their identities. There is a specific method for choosing the validators and each of them must earn their reputation. Since there is a small number of system validators involved, the scalability of the system is enhanced substantially.