06-03-20241 min read
BNB price (BNB)
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--Past 24h
Data provided by CoinGecko
What is BNB?
Binance Coin (BNB) is a cryptocurrency developed by crypto exchange Binance. The coin was developed as an ERC-20 token, meaning it uses the standards of Ethereum's ERC-20 protocol. The BNB thus previously operated on Ethereum's blockchain. Since 2019, the BNB token has migrated to its own blockchain using BEP-2 as its technical standard. BNB's goal: to power exchange operations, provide convenience to platform users and an affordable trading currency with low transaction costs.
Historic ROI
1 year
96.24%
3 years
24.28%
5 years
2,541.77%
Price (Month)
Lowest
€496.13
Highest
€583.81
BNB Market
Marketcap
€86.6 Billion
Circulation
154 Million
Volume 24h
€1.2 Billion
Dominance
3.62%
Low transaction costs
Executing a transaction on the BNB blockchain costs just 0.10 cents on average.
Native token
BNB acts as a native token and is used to pay for gas to execute network transactions on the Binance blockchain.
Since 2017
BNB was launched in summer 2017 and has become one of the largest coins based on trading volume. Until 2019, BNB was an ERC-20 token, then BNB migrated to its own blockchain.
When is a good time to get in?
BNB statistics from the last 24 hours
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Latest news about BNB
26-02-20241 min read
14-02-20242 min read
More about the BNB price
The BNB price history
In 2017, crypto exchange Binance introduced the BNB coin. Back then, the coin reached a low point with a price of less than 10 cents per BNB. In 2021, BNB managed to reach its peak, reaching a price of 711.74 euros per BNB coin.
The Binance coin ICO
On 26 June 2017, before the launch of the Binance exchange, you could buy BNB coins for $0.15 per BNB. The Initial Coin Offering (ICO) lasted until 3 July. 100 million BNB coins were sold with a value of $15 million. Changpeng Zhao, founder of Binance, organised the ICO to raise money for the development of the Binance exchange. Binance used most of the money for marketing and optimising the platform. 11 days after the ICO, Binance's trading platform was launched.
A declining market supply
A total of 200,000,000 BNB coins were put into circulation in 2017. Meanwhile, the total market supply has been reduced by burning. In burning, BNB coins are sent to a dead wallet. This is done to create scarcity, causing the price to rise over time. Burn events take place twice a year, which should eventually reduce the market supply by 50%. So at some point, there will only be 100 million BNB coins in circulation.
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