#58 WHAT IS BINANCE COIN (BNB)?
Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.
Understanding Binance Coin (BNB)
The Binance blockchain is built using Ethereum and uses BNB as its native token. It was launched during an initial coin offering (ICO) in July 2017 and has a strict maximum of 200 million BNB tokens.
The ICO offered 10%, or 20 million, BNB tokens to angel investors, 40%, or 80 million, tokens to the founding team, and the remaining 50%, or 100 million, to the various participants.
In May 2024, Binance Exchange was the second largest (as verified by Coinmarketcap) cryptocurrency exchange in the world, with a daily trading volume of $11.8 billion.
Binance Coin (BNB) had a 24-hour trading volume of $1.45 billion.
- Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.
- Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy (or "burn") BNB held in its treasury.
- Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.
- At the time of writing, Binance Coin (BNB) had a market cap of more than $87 billion, ranking behind only Bitcoin, Ethereum, and USD Tether.
(credit to Investopedia)
#AltcoinSeasonComing
#AltcoinTrade
#CryptoComeback
#StripeStablecoinAccounts
$BNB
$BTC
$XRP
Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.
Understanding Binance Coin (BNB)
The Binance blockchain is built using Ethereum and uses BNB as its native token. It was launched during an initial coin offering (ICO) in July 2017 and has a strict maximum of 200 million BNB tokens.
The ICO offered 10%, or 20 million, BNB tokens to angel investors, 40%, or 80 million, tokens to the founding team, and the remaining 50%, or 100 million, to the various participants.
In May 2024, Binance Exchange was the second largest (as verified by Coinmarketcap) cryptocurrency exchange in the world, with a daily trading volume of $11.8 billion.
Binance Coin (BNB) had a 24-hour trading volume of $1.45 billion.
- Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.
- Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy (or "burn") BNB held in its treasury.
- Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.
- At the time of writing, Binance Coin (BNB) had a market cap of more than $87 billion, ranking behind only Bitcoin, Ethereum, and USD Tether.
(credit to Investopedia)
#AltcoinSeasonComing
#AltcoinTrade
#CryptoComeback
#StripeStablecoinAccounts
$BNB
$BTC
$XRP
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BNB
653.48
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