BNB
BNBBNB617.00$ +5.60%

An exchange token native to the Binance blockchain

4 Rank
92.13B$ Market Cap
2.30B$ 24H Volume

BNB price live chart

617.00$5.60%
BNB Price statistic
BNB price today
BNB price
617.00 $
Price change (24h)
5.60% 33.00 $
Trading volume (24h)
2.30B $
Market Dominance
3.33%
Market rank
#4
BNB price history
All Time High
May 10 2021 (2 years ago)
9.97% 685.00 $
BNB Market Cap
Market Cap
92.13B $
BNB Supply
Circulating Supply
149.52M BNB

Download BNB wallet app

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Store & Transfer BNB safely

Cropty is a convenient mobile app to store, transfer and receive BNB safely. Cropty supports multiple networks and cryptocurrencies. Investing in BNB becomes easy with Cropty wallet.

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You can track your BNB value in 11 fiat currencies: USD ($), RUB (₽), EUR (€), INR (₨), THB (฿), KRW (₩), UAH (₴), GEL (₾), TRY (₺), GBP (£), BRL (R$).

Receive BNB in BNB network

Cropty cryptocurrency wallet supports Bitcoin, Ethereum, BNB Chain, Polygon and Tron networks. To receive BNB in Binance smart chain (BEP-20) network, just download the app, sign up and share your public address or QR-code with th sender.

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No more confusion with crypto public addresses: in the Cropty cryptocurrency wallet you can send BNB just by mobile phone number, QR-code and even a nickname! Make instant zero-fee BNB transfers in your usual ways.

BNB wallet mobile app for iOS and Android

Get access to BNB right in your mobile phone or any browser. Cryptocurrency investments wallet is already available for Android and iOS. Download Cropty to invest in BNB online.

BNB basics

Name

BNB

Category

Financial

What is BNB?

Binance Coin is digital asset native to the Binance blockchain and launched by the Binance online exchange.

BNB token type

Token name

BNB

Token type

Native, ERC-20

Token uses

Access, Discount, Vote

What is BNB used for in 2024?

Binance Exchange Most crypto exchanges charge trading fees based on a small percentage of total trade size. Binance was the first to offer discounts on these trading fees if they were paid in the native exchange token. The discount started at 50% for the first year getting reduced to 25% in the second, 12.5% in the third and finally 6.75% in the fourth before being eliminated entirely. These discounts are at the sole discretion of Binance and could be altered at any time.

Launchpad As a progression of the ICO, Binance first popularized the initial exchange offering (IEO) when they announced in January 2019 that they would be selling tokens directly through the exchange every month. Initially, the sales were done on a first come first serve basis. They since pivoted to a lottery system where users can claim tickets based on the number of BNB tokens held over the prior 20 days. The tickets represent a certain allocation of tokens and are drawn randomly. If selected, the user is committed to purchasing that number of tokens at the listed price.

Binance Chain BNB acts as the native token used as gas to pay for network transactions on Binance Chain, a high-performance blockchain network. It initially operates with a small pre-selected validator set, but the plan is to transition to a delegated proof-of-stake (DPoS) consensus mechanism where users can vote using their BNB for delegates that will validate blocks to secure the network. There is also a built-in governance module to let BNB holders submit proposals by depositing tokens which are then voted on.

BNB history and first price

Launch style

Crowdsale

When did BNB launch?

Binance pre-mined 200 million Binance Coins prior to the public sale. Binance Coin’s distribution process had three phases: allocation to founders, allocation to investors, and a public sale.

  • Founders received 80 million BNB (40% of supply) vested over four years. Half of the founders’ allocation was vested immediately. The other half is vested annually through 2021. From Q2 2019, these tokens will be burnt through quarterly burns and will thus remain illiquid until they are burnt. Binance plans to burn 100 million BNB (50% of supply) over time and has successfully executed nine coin burns to date.
  • Investors receive 20 million BNB (10% of supply) with no vesting or lock-up restrictions.
  • The public sale distributed 100 million BNB (50% of supply). Binance launched the ERC-20 Binance Coin in a public sale on July 14, 2017. Half of the funds raised through Binance’s coin offering were intended for Binance branding and marketing, and roughly one-third of the funds were for platform upgrades and development.

Binance executed the token swap from ERC-20 BNB tokens to Binance chain mainnet BNB coins on April 23, 2019. Binance Coins native to the Binance chain are called BEP2 BNB. Pre-selected validators produced blocks after the genesis block on April 18, 2019, and the first ERC-20 to BEP2 BNB swap of 5 million BNB was executed to a wallet belonging to Binance.

How did BNB come about?

Binance is a cryptocurrency exchange that launched in the summer of 2017 and swiftly grew to become one of the world's largest by trading volume, making a profit of $200 million in its second full quarter of operation. Binance Coin is an ERC-20 token that was issued as part of an initial coin offering (ICO) to be used for discounted trading costs, with a percentage of the tokens burned every quarter.

ERC-20 tokens were replaced by native tokens when Binance launched Binance Chain, its own public blockchain, in April 2019. The team constructed Binance DEX, a decentralized exchange that allows traders to keep custody of their cash, on top of Binance Chain. Over time, the token has gained additional functionality, such as use in the Binance Launchpad lottery system and different payments in the Binance ecosystem.

CEO Changpeng Zhao ("CZ") has also stated that 90% of Binance employees opt to earn a portion of their income in BNB.

BNB roadmap 2024
Binance DEX Testnet
February 2019 · Testnet

Binance launched testnet for its a href=" "decentralized exchange /a

Binance Chain Mainnet
April 2019 · Mainnet

Binance launched mainnet with pre-selected validators producing blocks

BNB ERC-20 Mainnet Swap
April 2019 · Token Migration

ERC-20 BNB are swapped for BEP2 tokens

Show more

BNB technology explained

Binance Coin was originally launched as an ERC-20 token on Ethereum until April 2019. Binance converted all ERC-20 BNB tokens to Binance chain BNB coins a couple days after the Binance chain mainnet launched. Two months earlier, Binance chain’s testnet launched and was used by the internal Binance team and some high-volume traders for testing.

Binance’s decentralized exchange (DEX) is built on the Binance blockchain using Tendermint and the Cosmos Software Developer Kit (SDK). Binance forked Cosmos to create the Binance blockchain, which currently does not support smart contract features. Binance aims to use the Tendermint consensus framework to solve some interoperability problems with inter-blockchain communication (IBC).

Binance chain source code is currently not open source for competitiveness reasons, according to Binance. But the exchange plans to open source the DEX and blockchain codebases when both products gain more adoption.

BNB core contributors
User photo
Binance
Binance is a digital asset exchange ecosystem offering a variety of centralized and decentralized products and services for efficiently buying and selling blockchain-based coins and tokens.
User photo
Binance Labs
Binance Labs is a social impact fund looking to invest in and empower blockchain and cryptocurrency entrepreneurs, projects, and communities. Support for projects offered by Binance Labs includes: • Funding • Go-to-market strategy • Business Development • Token Distribution • Technical Review • Recruiting Target investments include: • Public Blockchain projects • Decentralized Exchanges • Wallets & Payments • Stablecoins • Security Token Platforms • dApps Additionally, Binance Labs hopes to collaborate with partners via it’s Ecosystem Fund to build the infrastructure required to help the crypto world expand sustainably. Joining the Ecosystem Fund requires successful completion of an application process and minimum AUM of $100 million USD. Members of the fund can refer promising projects to Binance Labs for further investment.
User photo
Binance US
Binance.US is a fast, compliant, and secure digital asset marketplace. As a local partner of the global Binance ecosystem, it brings the best-in-class technology, speed, and execution of Binance to everyday users in the United States
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BNB supply limit

General Emission Type

Deflationary

Precise Emission Type

Non-programmatic burn

Is capped

Yes

BNB supply curve details

Binance initially stated that it would used 20% of the quarterly profits generated by its exchange to buy back BNB on the market and burn them, thus reducing the outstanding supply. Nevertheless, in April 2019, Binance edited the white paper’s section devoted to quarterly repurchasing plans to replace it with a section on quarterly burn plans. In July 2019, Binance announced that it will burn the BNB tokens allocated to the Binance team going forward. As a result, the team allocation, that was initially supposed to be vesting for 4 years, will remain illiquid until all 80,000,000 BNB have been burnt. This reduces BNB's liquid supply, as these tokens are no longer liquid, but it also reduces the potential liquid supply inflation rate that would have occurred through the vesting of those tokens.

As of today, Binance has realized 15 quarterly token burns, leading to the destruction of 30,567,063 BNB:

  1. October 2017 - 986,000 BNB
  2. January 2018 - 1,821,586 BNB
  3. April 2018 - 2,220,314 BNB
  4. July 2018 - 2,528,767 BNB
  5. October 2018 - 1,643,986 BNB
  6. January 2019 - 1,623,818 BNB.
  7. April 2019 - 829,888 BNB
  8. July 2019 - 808,888 BNB
  9. October 2019 - 2,061,888 BNB
  10. January 2020 - 2,216,888 BNB
  11. March 2020 - 3,373,988 BNB
  12. June 2020 - 3,477,388 BNB
  13. September 2020 - 2,253,888 BNB
  14. December 2020 - 3,619,888 BNB
  15. March 2021 - 1,099,888 BNB

Binance will continue burning an amount of BNB equivalent to 20% of its quarterly profit until the outstanding supply (supply that exists on-chain) reaches 100,000,000 BNB.

Who funds BNB core development?
User photo
Jump Capital
Jump Capital is an expansion stage venture firm with operating DNA at its core. We offer unparalleled institutional resources through Jump’s ecosystem, including access to a broad network, top research labs and academic institutions advancing the state of the art in healthcare, high-performance computing, data mining, and machine learning.
User photo
LuneX Ventures
LuneX Ventures invests in cryptocurrencies and blockchain companies.
User photo
M31 Capital
M31 Capital is a global investment firm focused on cryptoassets & blockchain technology. The firm restricts itself to cryptoasset-specific investment strategies, including both direct token investments as well as select active network participation opportunities
User photo
Multicoin Capital
A thesis-driven cryptofund offering LPs venture capital economics with all the advantages of public market liquidity
Show more
USD to BNB converter
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$
BNB
coin

BNB consensus

General consensus mechanism

Delegated Proof-of-Stake

Targeted block time

0.02 min

BNB governance

Onchain governance type

Upcoming

What is BNB governance?

Currently, BNB is governed in a centralized manner with the Binance team having control over changes to the token economics and specifications of Binance Chain.

Who regulate BNB in 2024?

The token burn could be compared to a corporate share buyback where profits are used to purchase assets. This links the value of BNB to the efforts of a third party, which risks it being classified as a security based on U.S. regulations under the Howey Test. If it were classified as a security, it would make BNB an unregistered security and would prevent it from being traded in the U.S.

FAQ
1.What is the best app to store BNB?

Store BNB with Cropty cryptocurrency wallet by 3 simple steps:

  1. Download the app from the Apple AppStore or Google Play, or open your browser wallet.
  2. Create your Cropty wallet account with Face ID or Touch ID security options.
  3. Transfer BNB from external wallet.
2. How can I receive BNB?

Receive BNB to your Cropty wallet by QR-code, phone number, e-mail and nickname:

  1. Download the app from the Apple AppStore or Google Play, or open your browser wallet.
  2. Create your Cropty wallet account, set up a nickname.
  3. Click ‘Receive’ and follow the instructions.
3. How can I store BNB safely?

You can transfer your BNB holdings and store it safely with Cropty wallet. Cropty secures safety of your holdings through various verification options like using password, authenticator app, Face ID, Touch ID and backup codes. You can be sure no one can get access to you BNB holding except you.

4. How to start investing in BNB easily and securely?

Start investing in BNB with Cropty cryptocurrency wallet by 3 simple steps:

  1. Download the app from the Apple AppStore or Google Play, or open your browser wallet.
  2. Create your Cropty wallet account, set your authentication settings.
  3. Transfer BNB from external wallet.
5. Why should I choose Cropty to store and transfer Bitcoin?

The Cropty wallet provides the most convenient application for storing and transfering BNB. Cropty targets to become one the best crypto wallets for Android and iOS in 2024. Cropty provides convenient application and secure custodial services, built for crypto beginners, as well as for crypto-savvies.

6. How can I receive BNB as payment?

You can receive BNB as payment in Cropty wallet. It is a convenient mobile app to receive, store and transfer BNB BNB safely and instantly. Open Cropty app, click ‘Receive’, follow simple instructions and get your BNB holdings immediately.

7. How can I receive BNB donations?

You can receive BNB donations instantly with Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Receive’ and follow simple instructions. Share your address with someone who wants to donate you in crypto.

8. Can I send BNB without verification?

You can receive BNB donations instantly with Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Receive’ and follow simple instructions. Share your address with someone who wants to donate you in crypto.

9. How can I send BNB without fee?

You can send BNB instantly without fee in the Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Send’, choose ‘Send via e-mail, phone number or nickname’ and follow simple instructions.

10. How to make money with BNB?
  1. Sign up to BNB wallet.
  2. Top up your balance with BNB.
  3. Store, trade or deposit your BNB.
  4. Get BNB deposit interest directly to your Cropty wallet.
USD to BNB converter
USD
$
BNB
coin
BNB Price statistic
BNB price today
BNB price
617.00 $
Price change (24h)
5.60% 33.00 $
Trading volume (24h)
2.30B $
Market Dominance
3.33%
Market rank
#4
BNB price history
All Time High
May 10 2021 (2 years ago)
9.97% 685.00 $
BNB Market Cap
Market Cap
92.13B $
BNB Supply
Circulating Supply
149.52M BNB
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