Binance Coin (BNB) Price Today & Market Overview
Current BNB Price (USD): $312.70
Market Cap: $48.65 billion
Circulating Supply: 155.86M BNB
24H Trading Volume: $393.79 million
7-Day Price Change: -0.42%
Today's Trading Range: $311.00 - $312.90
Real-Time BNB Market Data
BNB's current price sits at $312.89**, with a 24-hour trading volume of **$1,249,917.76. The coin has experienced a 0.81% price decline over the past day. Key metrics:
- Market Rank: #3
- Total Market Value: $49.13B
- Max Supply: 200M BNB
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Historical Price Performance (USD)
| Time Frame | Price Change | Percentage |
|---|---|---|
| 7 Days | -$0.55 | -0.17% |
| 30 Days | -$32.21 | -9.33% |
| 90 Days | -$3.63 | -1.14% |
What Is Binance Coin (BNB)?
Launched in 2017 through an ICO, Binance Coin originally existed as an ERC-20 token before migrating to Binance Chain in April 2019. With a capped supply of 200M tokens, BNB serves multiple functions:
- Exchange Utility: Discounts trading fees on Binance
- DEX Currency: Powers Binance's decentralized exchange
- Launchpad Access: Participates in token sales
Key Features
- Fee Reduction Model
Users enjoy progressively steeper discounts (from 25% to 1%) on trading fees when paying with BNB. - BEP-2 Standard
Post-migration, BNB operates as a BEP-2 token on Binance Chain, offering faster transactions versus its ERC-20 predecessor. - Governance Participation
BNB holders can vote on network upgrades and proposals.
Binance Coin Burn Explained
Every quarter, Binance executes BNB burns—permanently removing coins from circulation based on exchange trading volume. Notably:
- Original Method: Ethereum smart contract burns (pre-2019)
- Current Method: Native BNB Chain burn command
This deflationary mechanism reduces total supply over time, potentially increasing scarcity.
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FAQs About BNB
Can you mine Binance Coin?
No. Binance Chain uses Byzantine Fault Tolerance (BFT) consensus, requiring validators instead of miners.
Where can I buy BNB?
Major exchanges like Binance, OKX, and Coinbase support BNB trading pairs with USD, USDT, and BTC.
How often does BNB burning occur?
Quarterly. The next burn is scheduled based on Binance's Q2 2024 trading volume.
What's BNB's highest recorded price?
$686.31 (May 10, 2021), per CoinMarketCap historical data.
Is BNB a good investment?
While past performance shows volatility, BNB's utility within the Binance ecosystem provides ongoing demand drivers. Always conduct independent research before investing.
Final Analysis
Today's BNB price reflects short-term downward pressure (-9.33% over 30 days) amidst broader crypto market trends. However, its entrenched exchange utility and quarterly burns establish long-term value propositions. Monitor resistance levels near $315** and support at **$308 for tactical entry points.