Binance Coin (BNB) is a prominent cryptocurrency that powers the Binance ecosystem, including transaction fee discounts, token sales, and more. This article provides a comprehensive look at BNB’s current market performance, price trends, and practical exchange information.
Market Performance and Metrics
As of the latest update, Binance Coin holds a significant position in the crypto market with a market capitalization of over $92.7 billion. The 24-hour trading volume stands at approximately $1.47 billion, reflecting active market participation. The circulating supply is currently 140,885,265.09 BNB.
Recent Price Trends
BNB has shown varied performance across different time frames:
- Over the past hour, the price decreased by 0.07%.
- In the last 24 hours, it declined by 0.82%.
- However, the past week saw a positive trend with a gain of 2.07%.
- The one-month performance shows a drop of 1.84%, while the three-month period reflects growth of nearly 10%.
These fluctuations highlight the dynamic nature of the cryptocurrency market and the importance of monitoring real-time data.
BNB Pair Performance
BNB’s value against major cryptocurrencies also reveals interesting trends:
- BNB/USDT: Declined slightly in the short term but gained over 9.97% in three months.
- BNB/ETH: Showed mixed results, with a dip of 1.93% in a week but a rise of 1.75% over one month.
- BNB/BTC: Remained relatively stable in the last 24 hours, with minor changes over weekly and monthly periods.
Current Exchange Rates
Here’s how much 1 BNB is worth in various global currencies:
- US Dollar (USD): $657.81
- Euro (EUR): €558.69
- British Pound (GBP): £481.43
- Japanese Yen (JPY): ¥94,951.83
- Canadian Dollar (CAD): CA$894.08
- Brazilian Real (BRL): R$3,555.7
- South Korean Won (KRW): ₩897,778.5
- Singapore Dollar (SGD): S$838.09
- Vietnamese Dong (VND): ₫17,216,415.41
These rates are updated regularly to reflect the latest market conditions.
Supported Protocols for BNB
Binance Coin is compatible with multiple blockchain protocols, enhancing its utility and accessibility:
- BSC Protocol: Based on the Binance Smart Chain blockchain.
- OPBNB Protocol: Operating on the Opbnb blockchain.
- ETH Protocol: Compatible with the Ethereum network.
- BNB Native Protocol: Built on the BNB blockchain.
This multi-protocol support allows users to transact and exchange BNB across different networks with ease. For those looking to engage with these options, you can explore available exchange methods.
Frequently Asked Questions
What is Binance Coin (BNB) used for?
BNB is primarily used within the Binance ecosystem for paying transaction fees, participating in token sales, and more. It also serves as a utility token for various decentralized applications.
How can I exchange BNB for other cryptocurrencies?
You can exchange BNB through reputable platforms that support multiple protocols. Ensure you use a secure service with competitive rates and low fees for the best experience.
Is BNB a good investment?
Like all cryptocurrencies, BNB carries investment risks due to market volatility. Its performance depends on market trends, adoption rates, and developments within the Binance ecosystem. Always conduct thorough research before investing.
What factors influence BNB’s price?
BNB’s price is affected by overall market sentiment, regulatory news, technological updates, and demand within the Binance platform. Macroeconomic factors can also play a role.
Can I use BNB on non-Binance platforms?
Yes, BNB is supported on various exchanges and decentralized platforms beyond Binance, thanks to its multi-protocol compatibility.
How do I store BNB securely?
BNB can be stored in hardware wallets, software wallets, or on exchanges. For large holdings, hardware wallets are recommended for enhanced security.
Final Thoughts
BNB remains a key player in the cryptocurrency market, offering utility, flexibility, and growing adoption. Whether you’re trading, investing, or using it for transactions, staying informed with up-to-date data is crucial. For further details and real-time tools, view current exchange options.