What is the currency and what is its project?
BNB currency is one of the top five currencies in the crypto market and is considered one of the most influential and well-known projects in the crypto world, with a wide range of services based on blockchain technology operating on a peer-to-peer basis without intermediaries in trading.
The importance and objectives of the BNB currency project
BNB currency is the project of the Binance platform, one of the most important cryptocurrency trading platforms, where more than $11.5 billion is traded daily on the platform through 402 cryptocurrencies and 11 government-backed digital currencies (fiat currency), with the ability to support 1591 trading markets and offering multiple services, including:
* BINANCE PAY
* BINANCE EXCHANGE
* NFT
* BABT
* BINANCE ETH STACKING
* BINANCE CHARITY
What is the BINANCE BAY service?
It is one of the services offered by the Binance trading platform and is a secure payment technology for using digital currencies that works on a P2P basis, allowing you to buy, sell, and send various cryptocurrencies.
What is the BINANCE ETH STACKING service?
It involves storing Ethereum (ETH) and obtaining the WBETH token, which guarantees you receive periodic returns and can recover your ETH at the end of the storage period. The (WBETH) you hold represents the storage reward received but in a tradable and transferable form. WBETH collects rewards based on ETH's market value and is used for:
1- Loan request from BINANCE.
2- Decentralized finance (DeFi) services.
3- Spot trading.
4- Margin and futures trading.
5- Trading services for non-fungible tokens (NFTs)
NFT is a non-fungible digital token that uses blockchain technology to store its data and is one of the modern methods for identifying and owning digital assets that do not include tangible assets, used as a means to evaluate and sell digital asset ownership rights.
What is the BINANCE BABT service
Binance account linking tokens are the credentials of Binance users who have passed the identity verification stage and have three main characteristics:
1- Non-transferable to another currency.
2- It cannot be transferred from one address to another.
3- Revocable, as it can be deleted by the issuer.
Each user can only have one BAB token at a time on the chain. If access to the token is lost through the wallet, you can delete the token using the account and re-mint it again after 72 hours.
Trading services on the BINANCE EXCHANGE platform
It specializes in trading forex currency pairs against cryptocurrencies and is divided into:
1- Instant trading.
2- Virtual trading.
3- P2P trading.
4- Trading bots.
5- Copy trading.
Trading bots are automated trading tools that help automate cryptocurrency trading like professionals and are among the most popular and largest strategies on the trading platform, with the list of bots divided into:
1- Instant network.
2- Futures network.
3- Rebalancing bot.
4- Algorithm request.
5- Automated investment.
The Binance platform is a global leader in cryptocurrency trading, providing services to over 150 million registered users in more than 180 countries, thanks to its low fees. It is the preferred platform for trading bitcoin, altcoins, and other virtual assets, where platform users enjoy benefits:
1- Trade hundreds of cryptocurrencies across spot, margin, and futures markets.
2- Buying and selling digital currencies using Binance P2P.
3- Earning interest on digital currencies using Binance Earn.
4- Buy and earn new tokens on the Binance Launchpad.
5- Trade, store, and borrow NFT tokens on the Binance NFT market.
The project team behind the Binance platform
Changpeng Zhao founded Binance in July 2017 and successfully transformed it into the largest digital asset platform in the world by trading volume within 180 days.
Yi He leads the business strategy, marketing, and branding in Binance and was the mastermind behind the commercial strategy that made Binance the largest cryptocurrency trading platform in the world, playing a pivotal role in the company's transformation from a cryptocurrency trading platform to a global blockchain ecosystem.
Richard Tang is currently the CEO of the platform.
The market value of the currency
The currency ranks fourth among cryptocurrencies with a market cap of $94,149,423,955 and a daily trading volume of $2,190,315,526, with a total circulating supply of 153,856,150 units, and a maximum supply cap of 200 million units.
BNB is a currency and not a token
BNB is considered a currency, not a token, as it has its own decentralized blockchain infrastructure, the BNB SMART CHAIN, and operates according to its own consensus mechanisms, which is POS, while a token does not have its own blockchain or consensus mechanism, as it follows the network it was created on.
Plans for BNB currency development
The BNB platform is preparing to launch a special program to train programmers on how to work and develop blockchain programs, which will include 20 stages, each containing 6 educational video segments, aiming to enhance the working environment of the third generation of networks (web3).
The company also decided to expand its electronic solutions to accelerate trading on the platform using layer 2 (L2) capabilities, announcing integration with the BLAST network to provide ultra-fast transactions.
The most important uses of BNB currency
1- The value of BNB gives its owner a wide range of uses, including:
2- Acts as a high-value store of asset.
3- Creating decentralized applications and smart contracts.
4- Funding decentralized finance programs.
5- Paying transaction fees on the platform.
6- Acts as a governance system on the BINANCE platform.
7- Buying and selling NFT tokens.
8- Contributing to charitable causes.
How to trade BNB currency
BNB can be traded directly by purchasing the currency from one of the exchanges where it is listed, through simple steps that involve opening an account on the trading platform and making a bank deposit via credit cards, selecting the desired currency, and trading it. It can also be traded through a financial broker via contracts for differences or by purchasing shares in cryptocurrency funds, allowing investment in the currency without owning an asset.
Financial analysis of BNB currency
Since the currency was released in 2017 until 2021, it maintained a relatively stable price performance, holding an average value at a price of $27. However, since January 2021, the currency's value has begun to gain a strong upward trend, reaching its all-time high in May 2021 at a price of $686. At the beginning of 2022, the currency dropped to a level of $495, reaching its lowest price for 2022 in June at a price of $215, after which the currency gained consecutive upward values and was able to achieve a growth rate in 2023 of 79.3%. In the week between April 3-10, 2024, the currency achieved a growth rate of 1.1%, bringing the price of the currency on April 10, 2024, to $612.54 according to CoinGecko.
The most famous and strongest competitors of the currency
BNB currency gained its popularity by having its own blockchain, the BNB SMART CHAIN. Despite BNB being a reliable currency, it faces fierce competition in the crypto market, with its most famous competitors being:
1- Bitcoin.
2- Ethereum.
3- AVAX currency.
BNB platform currency features
BNB currency features
1- High financial value against the dollar, providing its holder with a wide range of services.
2- It relies on its own BNB SMART CHAIN blockchain and operates on a POS data recording technique.
3- The fourth strongest cryptocurrency in the trading market.
4- Supported by BINANCE platform services, which is the most important trading platform in the world.
5- The platform offers decentralized finance services and supports the creation of decentralized applications, enhancing the currency's position in trading.
6- The ease of liquidating the currency against fiat currencies.
The challenges and risks facing the BNB currency
BNB faces a set of challenges, including:
1- Legal and judicial pursuits against the company in several countries such as Nigeria.
2- The impact of governing systems in some countries
3- The impact of international crises on the future of the currency and the crypto market.
4- Strong price volatility in the cryptocurrency market.
5- The attractiveness of bitcoin in the currency market.
6- Market movements and trends.
7- The impact of liquidity movements and inflation in the real world.
Tips for BNB investors in 2025
General advice for investors can include:
1- Using the platform's training and simulation programs
2- Continuous monitoring of crypto market news and index movements.
3- Accurately studying market analysis indicators.
4- Controlling emotions while trading.
5- Implementing effective trading strategies
6- Implementing an effective trading strategy.
7- Keeping up with technical news related to the platform.
BNB currency is one of the strongest cryptocurrencies in the crypto market, and its holder possesses a strong digital asset, allowing them to exchange it for significant financial value, enabling access to a wide range of services. The currency burn process conducted by BINANCE is one of the most attractive means that provides investors a way to achieve greater profits.
