Binance Coin (BNB): Pros, Cons, and Prospects

BNB is a cryptocurrency of the Binance exchange, created in 2017. Initially, it worked on Ethereum, but later switched to Binance Chain. It is used to pay fees, participate in DeFi, and other Binance services.

Pros:

Discounts: Paying fees in BNB gives a discount of up to 25%.

Usage: Suitable for staking, farming, DeFi.

Token burning: Binance regularly burns BNB, reducing its supply.

Cons:

Dependence on Binance: Any problems with the exchange can affect the coin's rate.

Centralization: Binance controls a significant part of the network.

Current indicators (as of 02/19/2025):

Price: $655.53 (+$9.37 per day).

News:

Burning: 1.64 million BNB (~$971 million) were burned in July 2024.

Price Gain: BNB reached $779 in December 2024.

Charity: Binance donated $1 million in BNB to typhoon relief.

BNB remains a promising asset, but reliance on Binance carries risks.