Binance Coin (BNB) Price

Binance Coin (BNB)

524.60
-0.11%
EUR
Buy Binance Coin
as of 02:33:57 UTC

Binance Coin Market

Market Cap
$84.26B
FD Market Cap
$84.26B
Trading Volume 24H
$1.64B
Circulating Supply
147.58M
Total Supply
147.58M
as of 02:34:59 UTC

Price Fluctuation

24h Low
519.30
24h High
525.30
24h Open
525.10
24h Change
-0.60
All Time High
662.90
as of 02:34:59 UTC

Related Articles

About Binance Coin

Binance Coin, now known as BNB, is the native cryptocurrency of the Binance exchange, one of the world’s largest crypto trading platforms. Binance Coin was launched through an initial coin offering (ICO) in 2017 to fund the development of the Binance exchange. Initially launched as an ERC-20 token, Binance Coin was rebranded in 2019 and migrated to the BNB Smart Chain as BNB, where it then became the native coin of the Binance Chain.

 

Binance Coin (BNB) was launched with a maximum circulating supply of 200 million tokens. The original distribution method of BNB tokens included:

 

40% (80 million BNB) for the founding team

10% (20 million BNB) for angel investors, and

50% (100 million BNB) for a public sale.

 

BNB serves multiple purposes on the Binance platform, the major being that it can be used to pay for trading fees at a discounted rate. The price history of Binance Coin (BNB) has been interesting over the years, and the cryptocurrency has grown to become the fourth biggest crypto by market cap. 

Unlike most cryptocurrencies, BNB is a deflationary token, a feature which has contributed to its price growth since its launch. Although the maximum supply was offered at launch, the circulating supply of BNB has fallen over the years through Binance’s periodic burning events.

 

The crypto was launched with an Initial Coin Offering (ICO) where early investors were able to get in at an early price. During the ICO which lasted between June 26, 2017 until July 3, 2017, 100 million BNB tokens were sold at $0.15 per BNB and participants were able to purchase 2,700 BNB for 1 ETH. By the end of October 2017, BNB had gone mainstream and the BNB to USD ratio rose past $1. And by January 2018, BNB had surged in value to rise past the $24 mark, representing a 15,900% return for its ICO participants in less than six months.

The 2018 bear market hit the entire crypto industry hard, and BNB was no exception. By February 2018, BNB had corrected over 80% from its value in January and fell as low as $5.59. By June 2018, it had risen back up to $17, displaying extreme price volatility. Despite Binance’s popularity as it started to establish itself as a major player among crypto exchanges, the price of BNB failed to reach $24 again in 2018 and it ended the year around $6.

 

The crypto market recovered in 2019 and BNB went on an epic bull run. It wasn’t until April 2019 that BNB broke over $24 again during a six-month bullish price action which saw the BNB to USD ratio reaching a new peak of $39.57 in June 2019.

The crypto market started heating up again in 2020 and BNB broke out on an epic run that lasted for over 18 months. As a result, the cryptocurrency surged over 824% from $37 to $342 between January 2020 and February 2021. 

 

By March 2021, BNB picked up another epic bull run into new price territories, allowing it to peak at $686 in May 2021, which is its all-time high till date. As the native cryptocurrency for the BNB Smart Chain, the Binance coin price benefited hugely from increased adoption of DeFi, NFTs, and more on the blockchain in 2021. The huge price gains were also fueled by increased usage of the Binance exchange, new product offerings, and BNB’s utility within the Binance ecosystem.

The crypto market took a major downturn in 2018, and BNB was no exception. After reaching $652 again in November 2021, BNB crashed over 69% to around $197 by January 2022. The sharp drop mirrored the decline of the overall crypto market, showing the strong correlation between BNB and other top coins. However, BNB weathered the storm better than most other altcoins, displaying relative stability during this “crypto winter.”

 

The price of BNB has largely fluctuated between the upper end of $350 and the lower end of $205 from July 2022 until a recent breakout in February 2024. There were a few short-lived rallies where the price spiked up, only to fall back down again. 

The Binance Coin price has most recently been going through an extended growth in the middle of a recovery in the broader crypto market. The BNB to USD value now finds itself in the $600 price territory, an increase of over 92% from its January 2024 open of $312. 

 

The future of BNB looks bright and the cryptocurrency is now on its way to surpassing its current all-time high. Looking ahead, the issue of Binance Coin price prediction remains a debate, but analysts can agree that the crypto’s price is partly tied to Binance. As Binance continues to dominate the crypto exchange market and pushes for mainstream adoption of cryptocurrencies, the value and utility of BNB will likely increase over time.

 

Staying on top of news in the crypto space, and especially headlines related to Binance exchange and BNB will help investors anticipate price movements. NewsBTC remains devoted to delivering the latest and most essential information about BNB and BNB price predictions, allowing readers to stay ahead of the curve.

Other Currencies

1 BNB to USD
$570.92
1 BNB to EUR
524.60
1 BNB to JPY
¥90,171.00
as of 02:34:59 UTC

Binance Coin Converter

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