Contents
Overview of Binance Coin
- Binance Coin acts as a utility token on the exchange, serving not only to raise funds for the development of the exchange platform during the ICO in July 2017, but also to reduce transaction fees for customers who use the BNB to pay for operations on the Binance.
- Binance Coin (BNB) Price for today is $43.16, for the last 24-hours 15,623,729 BNB’s were exchanged with a trade volume of $674,304,161.It’s currently traded on 27 exchange(s) and has 286 active market(s), the top two exchange pairs are tether & bitcoin.
- Binance Coin price today is $186.05 USD with a 24-hour trading volume of $6,855,060,159 USD. Binance Coin is up 30.76% in the last 24 hours.
- Binance Coin is now available to stake on the testnet of Binance Chain, the new blockchain that together with DEX aims to create an alternative marketplace for issuing, using, and exchanging digital assets in a decentralised manner.
- Binance Coin has been caught within the throes of a parabolic uptrend in recent weeks, with the price of BNB rocketing higher amidst a mixture of increased demand for the Binance exchange coupled with demand for Binance Chain.
- Binance Coin has gained support through partnerships with high-end companies, like Asia’s live streaming platform, Uplive, which has a user base of over 20 million people and sells virtual merchandise for BNB currency.
- Binance Coin (BNB) is supported on Coinhako and our users can buy BNB with fiat currencies available in their account or with other cryptocurrencies that are supported in their country of residence.
- Binance Coins can also be used to pay for votes in Binance’s community coin forum — a process that helps determine the next cryptoasset added to the platform, though Binance retains a veto right.
- Binance Coin has a bunch of good things going for itself, and it should be a decent -to- good investment as long as you don’t mind betting your money on the exchange itself doing well.
- Binance Coin’s daily chart shows us the cryptocurrency’s uptrend that started in early December 2020, with its price recently reaching a new all-time high of $47.234.
Transactions
Binance also has its own ICO regulatory platform. In addition, Binance allows the exchange of Binance Coin pairs and various crypto currencies on the crypto currency exchange, but there is no fiat currency trading. It also accepts Binance Coin for all other transactions, such as token lists and shooting operations created on the Binance platform.
Network
Currently structured atop the Ethereum network, Binance Coin will soon be revamped. The team at Binance has indicated that that BNB will soon transition away from Ethereum network, and on to their own self-titled blockchain, Binance Chain. No exact timeline has been given for this transition.
Mine
For a comprehensive Binance Coin price analysis, let’s take a look at the price action on the monthly chart first to determine the key levels of support and resistance that the price is going to interact with on its presumed path to the all-time high.
Blockchain
BNB has been the native token of the platform from the start, but introducing staking means that its holders will be able to earn annual interest. Initially, 3000 BNB were given out as prizes via a testnet BNB, with the mainnet scheduled for August or September 2020.
Support
Beyond custodial support, Binance coin has seem modest adoption from various companies affiliated with Binance exchange. These affiliations open up the opportunity for BNB to be used for travel expenses, bill payments, investments, and more.
History of Binance Coin
- In 2017, Binance Coin was launched by Binance.
- In 2017, CZ noticed the sudden rise in coin offerings and decided to make a coin of his own.
- In 2017, this discount was even greater, 50%.
- In 2019, company announced Binance Jersey, an independent entity from its parent Binance.com exchange, with the aim to expand its European influence.