BNB is the native cryptocurrency of the Binance platform, the largest cryptocurrency exchange in the world. It was launched in July 2017 and plays a significant role in the platform's success.
Features of BNB
- *Reduced Fees*: BNB can be used to pay for trading and listing fees on the Binance platform with substantial discounts.
- *Gas on Binance DEX*: BNB acts as gas on the decentralized trading platform Binance DEX.
- *Quarterly Burn*: Binance burns a portion of BNB every quarter, which reduces the circulating supply.
- *Return on Investment*: BNB holders can benefit from the quarterly token burns and deferred discounts on trading fees.
Market Information
- *Current Price*: Approximately $657.51.
- *Market Cap*: Approximately $92.6 billion.
- *Rank*: Ranks fifth among cryptocurrencies.
- *Circulating Supply*: Approximately 140.88 million BNB.
Uses of BNB
- *Payment on Binance*: BNB can be used to pay for trading and listing fees.
- *Trading on Binance DEX*: BNB can be used as gas on the decentralized trading platform.
- *Investment*: BNB holders can benefit from the quarterly token burns and deferred discounts on trading fees ¹ ².
