Binance Coin (BNB) is a cryptocurrency that powers the Binance ecosystem, including the Binance Chain, Binance Smart Chain, and various other sub-projects. Launched in July 2017 through an Initial Coin Offering (ICO), BNB has grown to become one of the largest cryptocurrencies by market capitalization, with a current market cap of over $92 billion.
*Key Features and Use Cases:*
- *Trading Fee Discounts*: BNB offers discounts on trading fees on the Binance exchange, making it an attractive option for frequent traders.
- *Transaction Fees*: BNB is used to pay for transaction fees on the Binance Chain and Binance Smart Chain.
- *Payment Processing*: BNB can be used to pay for goods and services, both online and in-store, through partnerships with various companies.
- *Token Sales*: BNB is used to participate in token sales hosted on the Binance Launchpad.
- *Community Utility Token*: BNB is used in various applications and games within the Binance ecosystem.
*Price and Market Performance:*
- Current price: $658.09
- Market cap: $92.68 billion
- 24-hour trading volume: $1.93 billion
- Circulating supply: 140.88 million BNB
BNB's price has shown resilience throughout the current bull market, with predictions suggesting it could reach $1,275 by the end of 2025.¹ ²