Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name "Binance" is a combination of binary and finance.
Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing.
In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB.
The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance.
Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas.
Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.
Where is BNB available for purchase?
You can exchange BNB tokens on both decentralized and centralized crypto platforms. The favored choice for purchasing and trading BNB is Binance, notably the BNB/USDT pair, which saw a trading volume of $ 108,33 MLN. in the past day. Additionally, P2B and AscendEX (BitMax) are popular alternatives for trading tokens.
What is the highest value BNB (BNB) has ever reached?
BNB (BNB) reached its peak price at 788.84 $ on 04 December 2024, approximately 4 months ago ago. Presently, the current price is -25.89% lower than this all-time high.
What is the historical minimum price for BNB (BNB)?
The minimum price reached for BNB (BNB) was 0.03981 $, documented on 19 October 2017, more than 7 years ago. In comparison, the current price is 1,46 MLN.%, it above this historical low.
What is the fully diluted valuation of BNB (BNB)?
The fully diluted valuation (FDV) of BNB (BNB) stands at $ 85,30 BN.. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of 200,000,000 BNB tokens. The realization of this FDV might take several years depending on the emission schedule of BNB tokens.
How to add BNB (BNB) to MetaMask?
By integrating BNB (BNB) into MetaMask, you gain access to features like monitoring your token balances and trading on decentralized exchanges. To do this, you'll need to import BNB as a token. You can either manually import BNB by copying its contract address (0xb8c77482e45f1f44de1745f52c74426c631bdd52) or use MetaMask's Chrome extension to add BNB with a single click through P.CASH.
How to add BNB (BNB) to TrustWallet?
Incorporating BNB (BNB) into your TrustWallet setup enables you to monitor your token holdings and engage in decentralized exchange transactions, among other functions. To include BNB, you can either manually import it using the contract address (0xb8c77482e45f1f44de1745f52c74426c631bdd52) or conveniently add it to Trust Wallet with just one click via P.CASH if you've installed Trust Wallet's Chrome extension.
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