BNBBNB
BNB · 15m · LEGENDOHLC
BNB
BNB
Market cap$90.9B
Today’s move
Updated - ago
BNB is down 2.02% over the past 24 hours to $695.18, reflecting minor profit-taking and consolidation as traders weigh broader market sentiment against post-incident exchange recovery.1 Meanwhile, BNB Chain advances developments including migrations toward the BSC-Reth client ahead of the December Jenner hardfork. Open interest stands at $40.0M with a 0.0013% funding rate.
About
BNB is the native utility token of the Binance Smart Chain (BSC), a blockchain network launched by Binance in 2020 as an alternative to Ethereum with lower transaction fees and faster block times. Originally created as a BEP-2 token on the Binance Chain, BNB was bridged to BSC where it serves multiple critical functions including payment of network transaction fees (gas), staking rewards, and governance participation. The token operates on a deflationary model through regular token burns, where Binance periodically removes BNB from circulation, theoretically reducing supply over time. BNB has become one of the largest cryptocurrencies by market capitalization, largely due to its essential role in the BSC ecosystem, which hosts thousands of decentralized applications, yield farming protocols, and DeFi platforms. Beyond its blockchain utility, BNB also functions as a discount mechanism on the Binance exchange, providing trading fee reductions for users holding the token, and it serves as collateral and payment method across various decentralized finance protocols built on BSC and other compatible networks.