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BNB (BNB)
What is BNB?
BNB (BNB) is a cryptocurrency launched in 2017 by Binance, one of the world's largest cryptocurrency exchanges. Originally created as an ERC-20 token on the Ethereum blockchain, BNB has since migrated to Binance's native blockchain, Binance Chain, and its smart contract platform, Binance Smart Chain (BSC). The primary purpose of BNB is to serve as a utility token within the Binance ecosystem, offering users benefits such as reduced trading fees on the Binance exchange. BNB operates on a Proof-of-Stake Authority (PoSA) consensus mechanism, which is designed to provide fast and low-cost transactions. The token is used for various purposes, including transaction fees on BSC, staking, and participation in token sales on Binance Launchpad. BNB's significance is highlighted by its extensive use within the Binance ecosystem, its role in DeFi applications on BSC, and its adoption for payments and other financial services. This broad utility and integration across multiple platforms make BNB a key player in the cryptocurrency market.
When and how did BNB start?
BNB originated in June 2017 when the Binance team, led by Changpeng Zhao and the company Binance, released its whitepaper. The project was part of the broader Binance ecosystem, which aimed to create a versatile utility token for use within the Binance exchange. BNB's initial distribution occurred through an Initial Coin Offering (ICO) in July 2017, which successfully raised approximately $15 million. During the ICO, 100 million BNB tokens were offered to the public, marking the project's initial funding phase. The Binance platform, where BNB would primarily be used, launched shortly after the ICO in July 2017. The focus of early development was to establish BNB as a utility token for transaction fee discounts on the Binance exchange, among other uses. These foundational steps set the stage for BNB's integration into Binance's expanding ecosystem and its subsequent growth as a significant player in the cryptocurrency market.
What’s coming up for BNB?
According to official updates, BNB is gearing up for several key developments. A significant protocol upgrade is planned for Q4 2023, focusing on enhancing scalability and transaction efficiency on the Binance Smart Chain (BSC). This upgrade aims to improve network throughput and reduce latency, ensuring a smoother user experience. Another major initiative is the integration of BNB into more decentralized finance (DeFi) platforms, targeted for early 2024. This integration is expected to expand BNB's utility and accessibility within the DeFi ecosystem. Additionally, BNB is set to undergo a governance vote by mid-2024 to decide on further enhancements to its staking mechanisms, which could potentially increase rewards for validators and delegators. These milestones are designed to bolster BNB's performance and utility, with progress being tracked through their official development channels and community updates.
What makes BNB stand out?
BNB stands out due to its integration with the Binance Smart Chain (BSC), which provides a dual-chain architecture. This setup allows users to seamlessly transfer assets between the original Binance Chain and BSC, enhancing interoperability and expanding use cases. BNB leverages a Proof-of-Staked Authority (PoSA) consensus mechanism, which combines delegated proof-of-stake and proof-of-authority elements to achieve faster transaction speeds and lower costs. The BNB ecosystem is further distinguished by its extensive network of partners and integrations, including support for various decentralized applications and DeFi projects. Additionally, BNB's role in the Binance ecosystem, offering utility for transaction fee discounts, participation in token sales on Binance Launchpad, and more, contributes to its distinct position in the crypto landscape. The robust developer resources and active community support also play a significant role in BNB's ongoing innovation and adoption.
What can you do with BNB?
BNB is utilized primarily as a utility token within the Binance ecosystem. It is used to pay for transaction fees on the Binance Exchange, offering users discounts when they choose BNB as the payment method. Within the Binance Smart Chain (BSC), BNB acts as the native currency for transaction fees, enabling users to send value and interact with decentralized applications (dApps). Holders can stake BNB in various DeFi platforms on BSC to support network operations and potentially earn rewards. Additionally, BNB is used as collateral in some DeFi protocols, allowing users to engage in lending and borrowing activities. Developers leverage BNB for building and deploying dApps on the BSC, benefiting from its fast and low-cost transactions. The token is also integrated into numerous wallets, marketplaces, and financial services, enhancing its utility across the broader crypto ecosystem.
Is BNB still active or relevant?
BNB remains active and relevant as of October 2023, demonstrated by continuous development and updates. A recent upgrade in September 2023 focused on enhancing the Binance Smart Chain's scalability and security features. BNB maintains a strong market presence, consistently ranking among the top cryptocurrencies by market capitalization and being widely traded across major exchanges. Its integration within the Binance ecosystem, including use cases like transaction fee discounts and participation in token sales on Binance Launchpad, further underscores its relevance. Additionally, BNB is actively involved in governance through the Binance Chain community, where users can participate in voting on key proposals. These factors collectively highlight BNB's sustained activity and importance within the cryptocurrency sector.
Who is BNB designed for?
BNB is designed primarily for consumers and traders, enabling them to participate in the Binance ecosystem by using BNB for transaction fee discounts, trading, and accessing various services on the platform. It serves as a utility token, offering benefits such as reduced fees on Binance's exchange, participation in token sales on Binance Launchpad, and more. Secondary participants include developers and enterprises who can utilize BNB for building applications on the Binance Smart Chain (BSC), a Layer 1 blockchain that supports smart contracts and decentralized applications. BNB provides these users with tools and resources like SDKs, APIs, and comprehensive documentation to facilitate development and integration. Additionally, validators and liquidity providers play a crucial role in the ecosystem by engaging in staking and liquidity provision, ensuring the network's security and functionality.
How is BNB secured?
BNB is secured using a combination of the Binance Smart Chain (BSC) and Binance Chain, which operate using a Proof of Staked Authority (PoSA) consensus mechanism. In this model, validators are responsible for confirming transactions and maintaining the network's integrity. Validators are selected based on their staked BNB, and they earn transaction fees as rewards for their participation. To ensure security, validators risk having their staked BNB slashed if they engage in malicious activities or fail to perform their duties effectively. The network employs cryptographic techniques such as Elliptic Curve Digital Signature Algorithm (ECDSA) to ensure transaction authenticity and data integrity. Regular audits and a bug bounty program further enhance BNB's security by identifying and addressing potential vulnerabilities. Governance processes allow for community participation in decision-making, contributing to the network's resilience and adaptability. Overall, this combination of consensus, cryptography, and incentive mechanisms helps secure BNB and maintain its reliability and performance.
Has BNB faced any controversy or risks?
BNB has faced several controversies and risks primarily involving regulatory and security factors. In May 2021, Binance, the exchange closely associated with BNB, came under scrutiny from various global regulators, including the UK Financial Conduct Authority and Japan's Financial Services Agency, questioning its compliance with local regulations. This regulatory pressure has continued, impacting BNB's perception and market operations. In terms of security, BNB has been linked to incidents involving smart contract exploits on the Binance Smart Chain (BSC). For instance, in October 2022, a significant exploit on the BSC bridge resulted in the loss of approximately $100 million. The team responded by temporarily halting the chain to prevent further losses and later implemented patches to secure the network. Ongoing risks for BNB include regulatory challenges and potential technical vulnerabilities within its ecosystem. These are mitigated through regular audits, enhanced compliance measures, and active engagement with regulatory bodies to align with evolving legal standards.
BNB (BNB) FAQ – Key Metrics & Market Insights
Where can I buy BNB (BNB)?
BNB (BNB) is widely available on centralized cryptocurrency exchanges. The most active platform is Binance Futures, where the BNB/USDT trading pair recorded a 24-hour volume of over $536 439 679.21. Other exchanges include Binance and Binance Futures.
What's the current daily trading volume of BNB?
As of the last 24 hours, BNB's trading volume stands at $989,309,542.60 , showing a 9.25% increase compared to the previous day. This suggests a short-term increase in trading activity.
What's BNB's price range history?
All-Time High (ATH): $1 370.98
All-Time Low (ATL): $0.096109
BNB is currently trading ~56.37% below its ATH
and has appreciated +1,242,046% from its ATL.
What's BNB's current market capitalization?
BNB's market cap is approximately $83 587 075 371.00, ranking it #5 globally by market size. This figure is calculated based on its circulating supply of 139 184 442 BNB tokens.
How is BNB performing compared to the broader crypto market?
Over the past 7 days, BNB has declined by 18.37%, underperforming the overall crypto market which posted a 1.94% decline. This indicates a temporary lag in BNB's price action relative to the broader market momentum.
Trends Market Overview
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BNB Basics
| Development status | Working product |
|---|---|
| Org. Structure | Centralized |
| Open Source | Yes |
| Consensus Mechanism | Byzantine Fault Tolerance |
| Algorithm | Tendermint (BFT) |
| Hardware wallet | Yes |
| Started |
15 July 2017
over 8 years ago |
|---|
| Website | binance.com |
|---|
| Source code | github.com |
|---|---|
| Asset type | Coin |
| Explorers (2) | bscscan.com explorer.binance.org |
|---|
| Tags |
|
|---|
| Blog | binance.zendesk.com |
|---|---|
| facebook.com | |
| reddit.com |
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BNB Team
Changpeng Zhao is a Chinese-Canadian business executive, who is the founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume, as of April 2018. Zhao was previously a member of the team that developed Blockchain.info and also served as chief technology officer of OKCoin.
Changpeng Zhao is engaged in 1 projectsBNB Exchanges
BNB Markets
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
How to use it?
By default Market depth is showing the most liquid markets sorted by Combined Orders (which is a sum of buy and sell orders). This way it provides the most interesting information already. Left (green) side of the market depth bar is showing how many buy orders are open, and right (red) side of the bar is showing how many sell orders are open (both can be recalculated to BTC, ETH or any fiat we have available on the site).


Confidence
Due to rampant malicious practices in the crypto exchanges environment, we have introduced in 2019 and 2020 new ways of evaluating exchanges and one of them is - Confidence. Because it's a new metric - it's essential to know how it works.
Confidence is weighted based on 3 principles:
Based on the liquidity from order books (75%) - including overall liquidity and market depth/volume ratio, volumes included, if exchange is low volume (below 2M USD volume 24h)
Based on web traffic (20%) - using Alexa rank as a main indicator of site popularity
Based on regulation (5%) - researching and evaluating licensing for exchange - by respective institutions
Adding all of these subscores give overall main result - Confidence
Confidence is mainly based on liquidity, because it's the most important aspect of cryptocurrency exchanges. Without liquidity there is no trading, illiquid markets tend to collapse in the long term. Besides liquidity - there is also an additional factor in calculation of score - market depth/volume ratio. If volume is huge (especially when it’s growing much faster than liquidity), and market depth seems to not keep pace with - it's reducing overall score. Exchanges that keep market makers liquidity with expanding volume are those that keep all ratios in-tact and have overall score above 75-80% (it means that they have all liquidity ratios above minimum requirements, high web traffic participation, and are often regulated).
Other coins worth interest - similar to BNB
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 353 721 090 465 | $67 727.81 | $29 866 173 182 | 19,987,669 | |||
| 2 | Ethereum ETH | $237 438 313 790 | $1 971.65 | $10 170 853 885 | 120,426,316 | |||
| 4 | XRP XRP | $84 271 354 623 | $1.38 | $2 337 869 296 | 60,917,315,351 | |||
| 7 | Solana SOL | $46 583 817 911 | $82.05 | $2 706 634 427 | 567,716,415 | |||
| 8 | TRON TRX | $23 790 632 491 | $0.275472 | $552 015 305 | 86,363,298,503 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 63 | KuCoin Token KCS | $1 057 562 555 | $8.00 | $3 042 849 | 132,155,022 | |||
| 182 | THETA THETA | $201 887 572 | $0.201888 | $6 666 713 | 1,000,000,000 | |||
| 183 | Basic Attention Token BAT | $199 656 004 | $0.133490 | $18 332 297 | 1,495,658,357 | |||
| 188 | SwissBorg BORG | $190 184 117 | $0.193330 | $402 027 | 983,729,858 | |||
| 192 | Decentraland MANA | $188 803 852 | $0.097209 | $11 337 721 | 1,942,255,184 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 353 721 090 465 | $67 727.81 | $29 866 173 182 | 19,987,669 | |||
| 2 | Ethereum ETH | $237 438 313 790 | $1 971.65 | $10 170 853 885 | 120,426,316 | |||
| 7 | Solana SOL | $46 583 817 911 | $82.05 | $2 706 634 427 | 567,716,415 | |||
| 8 | TRON TRX | $23 790 632 491 | $0.275472 | $552 015 305 | 86,363,298,503 | |||
| 11 | Bitcoin Cash BCH | $10 325 688 251 | $519.77 | $366 462 024 | 19,865,787 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Bitcoin BTC | $1 353 721 090 465 | $67 727.81 | $29 866 173 182 | 19,987,669 | |||
| 2 | Ethereum ETH | $237 438 313 790 | $1 971.65 | $10 170 853 885 | 120,426,316 | |||
| 7 | Solana SOL | $46 583 817 911 | $82.05 | $2 706 634 427 | 567,716,415 | |||
| 61 | Near Protocol NEAR | $1 158 642 552 | $0.977621 | $149 517 548 | 1,185,165,436 | |||
| 204 | Polygon MATIC | $171 005 285 | $0.089355 | $43 094.52 | 1,913,783,718 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 17 | LEO Token LEO | $7 746 609 420 | $8.38 | $1 801 830 | 923,921,789 | |||
| 19 | WhiteBIT Coin WBT | $7 299 012 946 | $50.65 | $106 033 903 | 144,118,517 | |||
| 28 | OKB OKB | $4 405 546 429 | $73.43 | $19 647 938 | 60,000,000 | |||
| 43 | Cronos CRO | $2 048 025 737 | $0.077076 | $14 037 326 | 26,571,560,696 | |||
| 48 | Bitget Token BGB | $1 620 013 913 | $2.31 | $28 202 043 | 699,992,035 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 4 | XRP XRP | $84 271 354 623 | $1.38 | $2 337 869 296 | 60,917,315,351 | |||
| 7 | Solana SOL | $46 583 817 911 | $82.05 | $2 706 634 427 | 567,716,415 | |||
| 8 | TRON TRX | $23 790 632 491 | $0.275472 | $552 015 305 | 86,363,298,503 | |||
| 25 | Stellar XLM | $5 092 065 442 | $0.155593 | $100 682 210 | 32,726,836,945 | |||
| 30 | Hedera Hashgraph HBAR | $3 861 466 077 | $0.089795 | $82 265 145 | 43,003,138,665 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 2 | Ethereum ETH | $237 438 313 790 | $1 971.65 | $10 170 853 885 | 120,426,316 | |||
| 7 | Solana SOL | $46 583 817 911 | $82.05 | $2 706 634 427 | 567,716,415 | |||
| 8 | TRON TRX | $23 790 632 491 | $0.275472 | $552 015 305 | 86,363,298,503 | |||
| 11 | Bitcoin Cash BCH | $10 325 688 251 | $519.77 | $366 462 024 | 19,865,787 | |||
| 12 | Cardano ADA | $9 915 650 875 | $0.258083 | $380 905 539 | 38,420,418,457 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 17 | LEO Token LEO | $7 746 609 420 | $8.38 | $1 801 830 | 923,921,789 | |||
| 28 | OKB OKB | $4 405 546 429 | $73.43 | $19 647 938 | 60,000,000 | |||
| 41 | Uniswap UNI | $2 439 863 719 | $4.06 | $73 740 102 | 600,425,074 | |||
| 48 | Bitget Token BGB | $1 620 013 913 | $2.31 | $28 202 043 | 699,992,035 | |||
| 63 | KuCoin Token KCS | $1 057 562 555 | $8.00 | $3 042 849 | 132,155,022 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 8 | TRON TRX | $23 790 632 491 | $0.275472 | $552 015 305 | 86,363,298,503 | |||
| 391 | EOS EOS | $58 134 687 | $0.081175 | $63 588.56 | 716,165,006 | |||
| 469 | ICON ICX | $41 821 522 | $0.038386 | $1 395 090 | 1,089,506,410 | |||
| 510 | Ark ARK | $36 013 978 | $0.187173 | $1 995 978 | 192,410,550 | |||
| 554 | Secret SCRT | $30 813 897 | $0.092857 | $1 878 644 | 331,841,641 |
| # | Name | MarketCap | Price | Volume (24h) | Circulating Supply | 7d chart | ||
|---|---|---|---|---|---|---|---|---|
| 98 | Nexo NEXO | $525 331 732 | $0.813023 | $7 889 604 | 646,145,840 | |||
| 133 | Gnosis GNO | $318 502 406 | $122.99 | $1 677 411 | 2,589,588 | |||
| 188 | SwissBorg BORG | $190 184 117 | $0.193330 | $402 027 | 983,729,858 | |||
| 297 | 0x ZRX | $87 055 796 | $0.102612 | $7 006 565 | 848,396,563 | |||
| 300 | LATOKEN LA | $85 048 793 | $0.223751 | $143 193 | 380,105,462 |
What is Market depth?
Market depth is a metric, which is showing the real liquidity of the markets. Due to rampant wash-trading and fake activity - volume currently isn't the most reliable indicator in the crypto space.
What is it measuring?
It's measuring 1% or 10% section of the order book from the midpoint price (1%/10% of the buy orders, and 1%/10% of the sell orders).


Why it is important to use only 1% or 10%?
It's important, because measurement of the whole order book is going to give false results due to extreme values, which can make false illusion of liquidity for a given market.
What is showing Historical Market Depth?
Historical Market Depth is showing the history of liquidity from the markets for a given asset. It’s a measure of combined liquidity from all integrated markets on the coinpaprika’s market depth module.
BNB



