Binance Coin Price
On this page, you can always find an up-to-date Binance Coin price. You can also read about Binance Coin price development over the past year and basic information about the BNB token. Bookmark this site and keep track of price changes easily!
Binance Coin real-time price in USD & EUR
Want to buy Binance Coin? It is one of the most popular investments in the crypto market. We recommend buying BNB from Binance. You can make a deposit easily with a credit card or bank transfer. If necessary, check out this Binance guide for beginners.
Binance Coin price development over the past years
Binance Coin was created by the cryptocurrency exchange Binance. It was launched through an ICO in 2017. This means that BNB hasn’t been around for a long time, but it has reached tremendous success nevertheless.
Binance Coin was originally issued on the Ethereum platform, like almost all the tokens at that time. Out of a total of 200 million tokens, one hundred million were sold to investors through the ICO, 80 million remained with Binance’s team and 20 million went to angel investors.
Binance Coin has been an excellent choice for investors. BNB has locked its position among the largest cryptocurrencies. BNB holds currently third place in the crypto rankings – right after Bitcoin and Ethereum.
After the launch, the price of BNB was around $1 until the first days of 2018 when the price bounced to around $8. Through 2018 and early 2019 the BNB price was going up and down between five and ten dollars.
In the spring of 2019, the price of Binance Coin made new all-time highs around $30, after which it stabilized at the $20 range in 2020. Throughout 2020 the cryptocurrency market was in a wait-and-see mood. There weren’t any major changes in the BNB price either.
The graph below shows Binance Coin’s price development from 2017 to 2021.
Loyal investors received a nice surprise in the first weeks of 2021. The BNB price rocketed, making a peak at as much as $300 in February. After that BNB gained some more energy and made an incredible rise to almost $700.
In May 2021, the cryptocurrency market saw a significant collapse and the BNB crashed along with it. However, Binance Coin survived this collapse surprisingly well, and there has not been a drop under the level of $300 since the spring of 2021. BNB is still third in the ranking list of the biggest cryptocurrencies.
As the crypto market started to wake up in the autumn of 2021, the price of BNB followed.
BNB has undoubtedly been an excellent choice for investors. The future also looks bright.
Binance’s own smart contract platform, BSC, has benefited a lot from Ethereum’s high transaction fees. This has lifted the BNB price much higher.
Binance Exchange and Binance Smart Chain
To understand Binance Coin it is important to know some basic facts about Binance Exchange and its own blockchains. These are all linked together.
Binance is one of the world’s largest cryptocurrency exchanges. It is particularly well known for its massive cryptocurrency selection. Binance often offers the smallest projects that are not tradeable on Coinbase or Crypto.com.
Binance opened in 2017. The success of the exchange has been astonishing, as it became the world’s leading cryptocurrency trading platform in just six months. At the same time, Binance’s leader Changpeng Zhao became one of the richest people in the world of cryptocurrencies.
In 2019, Binance released its own blockchain called Binance Chain. This also brought new use cases for the BNB token, which you can read more below in the article. At the same time, Binance Coin was transferred from Ethereum to Binance’s own blockchain.
Binance Smart Chain was launched in 2020. Together these two blockchains make a so-called dual chain. BSC blockchain was released specifically for smart contracts. It has a separate consensus and staking mechanisms.
Binance Smart Chain has been a huge success thanks to the DeFi boom. The increase in popularity has been positively influenced by Ethereum’s massive gas fees. BSC has attracted a lot of DeFi apps from Ethereum. Venus and Pancakeswap are some of the most well-known BSC Dapps.
Unlike Bitcoin and Ethereum, Binance Chain is based on the Proof of Stake-based consensus algorithm. PoS does not require mining and it allows holders to earn staking rewards.
Basic information about Binance Coin
Binance Coin plays an essential role in the Binance family. BNB was originally a utility token in the Binance Exchange, but as the blockchains came in, BNB has got many new uses. This has led Binance Coin price to develop in a positive direction.
Binance Coin has had a clear purpose from the beginning. If you have BNB in your Binance account, you get a 25 percent discount on trading fees. This is a great deal for active traders.
In the Binance Chain and Binance Smart Chain BNB acts as a native token. BNB’s role in Binance’s blockchains is identical to the ETH token’s role in the Ethereum blockchain.
For BNB users it is important to understand that BSC uses the BEP20 token standard, which is different from the BEP2 used by Binance Chain. You must carefully check what network and standard you are using. BNB works on both networks and with two different standards.
On the BSC network, each validator will stake the required amount of Binance Coin to become a validator. Staking has brought a significant additional boost to the BNB price. BNB investors may generate some extra income from staking.
One essential part of BNB is burning, which destroys Binance Coins after each quarter. Binance is committed to destroying tokens until there are only 100 million BNB tokens left on the market.
At the same time as the tokens are removed from circulation, Binance Exchange and Binance Smart Chain are gaining popularity. This should be good for Binance Coin’s price. All BNB tokens have already been issued, meaning that there will be no more for now or in the future.
In conclusion, it can be said that the future of Binance Coin looks bright. There are many different ways to benefit from holding BNB and it has many uses in the Binance environment. The burning of tokens ensures that instead of inflation, there is value-increasing deflation going on.