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💠 What is BNB?
BNB (Binance Coin) is a digital currency launched by the Binance platform in 2017. Initially, it was built on the Ethereum network, but it was later migrated to its own network known today as BNB Smart Chain.
BNB is used within the Binance ecosystem and in hundreds of other applications and websites.
🧩 Key Uses of BNB:
Paying trading fees on the Binance platform and receiving discounts.
Purchasing and paying in some stores and services that accept cryptocurrencies.
Participating in new projects through the Binance Launchpad.
Using it in DeFi (decentralized finance) applications like lending, saving, and yield farming.
Participating in games and applications running on the BNB Smart Chain.
🔥 Burn Mechanism
Every three months, Binance "burns" a certain number of BNB coins (meaning permanently removing them from circulation) to reduce supply and increase scarcity, which can potentially raise the price over time. The ultimate goal is to reduce the total supply to just 100 million BNB.
⚠️ What are the risks?
Dependence on Binance: Any legal or technical issues on the platform could affect the value of the currency.
Price volatility: BNB, like other cryptocurrencies, can rise or fall significantly.
📈 Currency Performance
Launch Price: $0.10 (2017)
All-Time High: Approximately $690 (May 2021)
Current Price (July 2025): Ranges between $530 – $600 depending on the market.
$BNB $BTC #HODLTradingStrategy
BNB (Binance Coin) is a digital currency launched by the Binance platform in 2017. Initially, it was built on the Ethereum network, but it was later migrated to its own network known today as BNB Smart Chain.
BNB is used within the Binance ecosystem and in hundreds of other applications and websites.
🧩 Key Uses of BNB:
Paying trading fees on the Binance platform and receiving discounts.
Purchasing and paying in some stores and services that accept cryptocurrencies.
Participating in new projects through the Binance Launchpad.
Using it in DeFi (decentralized finance) applications like lending, saving, and yield farming.
Participating in games and applications running on the BNB Smart Chain.
🔥 Burn Mechanism
Every three months, Binance "burns" a certain number of BNB coins (meaning permanently removing them from circulation) to reduce supply and increase scarcity, which can potentially raise the price over time. The ultimate goal is to reduce the total supply to just 100 million BNB.
⚠️ What are the risks?
Dependence on Binance: Any legal or technical issues on the platform could affect the value of the currency.
Price volatility: BNB, like other cryptocurrencies, can rise or fall significantly.
📈 Currency Performance
Launch Price: $0.10 (2017)
All-Time High: Approximately $690 (May 2021)
Current Price (July 2025): Ranges between $530 – $600 depending on the market.
$BNB $BTC #HODLTradingStrategy
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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