BNB
BNB
$722.17
Current Price
+5.16%
24h Change
Info
BNB
Symbol
$96.19B
Fully Diluted Valuation
$96.19B
Market Cap
4
Market Rank
133.16M
Total Supply
$1.11B
Total Volume
$727.11
24h High
$685.18
24h Low
About BNB
BNB (Binance Coin) was initially launched as a utility token for the Binance cryptocurrency exchange, with the primary purpose of reducing transaction fees for its users. Over time, its role has expanded significantly within the Binance ecosystem and beyond. BNB aims to solve the problem of high transaction costs and slow processing times prevalent in traditional finance systems by enabling efficient, low-cost trading and transactions. Its core mission has evolved to support the broader Binance ecosystem, serving as a key component in Binance's DeFi solutions, smart contract capabilities, and blockchain services on the Binance Smart Chain (BSC). Technologically, BNB is a pivotal element of the Binance Smart Chain, a blockchain that runs parallel to Binance Chain and supports smart contracts and Ethereum-compatible applications. BSC utilizes a Proof of Staked Authority (PoSA) consensus mechanism, which combines elements of Proof of Stake (PoS) and Proof of Authority (PoA) to provide faster and more energy-efficient transaction processing. This makes BNB an integral part of an ecosystem that supports a wide range of decentralized applications (dApps), DeFi platforms, and NFT marketplaces. BNB's market position is bolstered by its extensive integration within Binance's global services, partnerships with diverse blockchain projects, and a robust community of developers and users, making it one of the most widely adopted cryptocurrencies in the world.
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FAQ
Information on this page is provided for informational purposes only and does not constitute investment advice. This is not a recommendation to buy or sell any digital asset or to employ any particular investment strategy. Backpack makes no representation as to the accuracy, suitability, or validity of the information provided.
Certain content is sourced from third parties not affiliated with Backpack. Backpack is not responsible for such content, nor is it liable for any errors, delays, or actions taken in reliance on it. Prices and data are for illustrative purposes only and may differ from actual market values. Digital assets involve significant risk and can fluctuate substantially. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition, and consult your own professional advisors for legal, tax, or investment guidance.
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