$BNB

Binance Coin (BNB) is a popular cryptocurrency with a strong presence in the market. Here are some key points about BNB ¹ ²:

- *Current Price*: BNB is trading at around $761.01, with a 24-hour price change of 0.06%.

- *Market Capitalization*: The market cap of BNB is approximately $106 billion USD, ranking it as the 6th biggest cryptocurrency.

- *Trading Volume*: The 24-hour trading volume of BNB is around $2.73 billion.

- *Auto-Burn Mechanism*: Binance Coin has a deflationary token mechanism, where tokens are burned quarterly to reduce the total supply over time.

*Use Cases*

- *Gas Fees*: BNB is used to pay for gas fees on the BNB Chain, facilitating smooth transactions and smart contract execution.

- *Staking*: Users can stake BNB to participate in transaction validation and earn rewards.

- *Token Sales*: BNB holders can participate in token sales on Binance Launchpad.

- *DeFi Protocols*: BNB is integrated into various DeFi protocols on the BNB Chain, enabling lending, borrowing, and other financial services.

*Recent Developments*

- *32nd Quarterly Burn*: Binance recently completed its 32nd quarterly burn, destroying approximately 1.595 million BNB worth around $1.024 billion.

- *Partnerships*: Kraken and Backed are expanding support for xStocks to BNB Chain, allowing users to trade tokenized US stocks as BEP-20 tokens