$BNB , or Binance Coin, is a cryptocurrency created and issued by the cryptocurrency exchange Binance. Initially launched as an ERC-20 token on the Ethereum blockchain in July 2017, it was later migrated to BNB Smart Chain in February 2019, becoming the native coin of the Binance Chain.
*Current Price and Market Status:*
- The current price of BNB is around $888.82, with a 24-hour trading volume of $2,532,725,515.50.
- BNB's market capitalization is approximately $123.81 billion, ranking it #5 among cryptocurrencies.
- The token has seen a 4.6% price increase in the last 24 hours and a 6.2% increase in the past 7 days ¹.
*Use Cases:*
- *Reduced Trading Fees*: BNB offers a 25% discount on trading fees when used on the Binance platform.
- *Native Token*: BNB is used to pay for fees on the Binance Chain and BNB Smart Chain.
- *Payments*: BNB can be used for various payments, including travel, credit card fees, gifts, and more.
*Trading and Investment:*
- BNB can be traded on various centralized crypto exchanges, including CoinUp.io, Binance, and HTX.
- The token's price performance is influenced by market trends, adoption, and token burns.
- Investors should be aware of the risks associated with investing in cryptocurrencies and consider their own research and financial goals ¹.
