BNB
BNB✓ Verified$687.35▲ 1.96%
Price · BNB · USD
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About
BNB is the token of the Binance ecosystem and BNB Chain: trading fee discounts, network gas and quarterly burns.
ExchangeLayer 1
An exchange’s token
Issued in 2017 by Binance, the world’s largest crypto exchange by volume, BNB cuts trading fees and pays gas on BNB Chain, which is Ethereum-compatible. Binance burns part of the supply every quarter, from an initial 200 million, until it reaches 100 million.
Specific risks
- Dependence on a single company, which pleaded guilty in the US in November 2023 over anti-money-laundering failures.
- Few validators, hence a more centralised network.
Questions and answers
Why does Binance burn BNB?
To reduce circulating supply under a rule announced in advance, which is meant to support each remaining token’s value.
Notitia newsroom · education, not investment advice. Crypto-assets are very volatile.