Live Price and Market Data
The current price of Binance Coin (BNB) is $657.81**, reflecting a decrease of **-0.81%** over the past 24 hours. However, it has shown positive momentum this week, with an increase of **+2.07%**. The market capitalization stands at **$109.76 billion, supported by a circulating supply of 166.80 million BNB tokens.
Key statistics include:
- Fully Diluted Market Cap: $109.72B
- 24-Hour Trading Range: $654.90 - $664.79
- Weekly Trading Range: $642.93 - $665.18
- 52-Week Price Range: $403.42 - $793.69
Understanding Binance Coin (BNB)
Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, initially launched as an Ethereum-based token. It has evolved into a multi-faceted asset with extensive utility. BNB is used primarily to pay for transaction fees on the Binance exchange, participate in token sales, and facilitate various transactions within the broader Binance Smart Chain (BSC) ecosystem.
The project is nearly eight years old, demonstrating significant longevity in the dynamic crypto market. Its core value propositions include enhancing security, ensuring platform sustainability, and providing high-efficiency trading with support for multiple languages and devices.
Technical Indicators and Market Sentiment
Daily technical indicators for BNB present a mixed but largely neutral outlook. The 14-day Relative Strength Index (RSI) is at 43.07, suggesting the asset is neither overbought nor oversold. Similarly, the STOCH(9,6) value of 30.59 indicates a neutral market position.
Key Technical Metrics
Momentum Indicators:
- RSI(14): 43.07 (Neutral)
- STOCH(9,6): 30.59 (Neutral)
- MACD(12,26): -1.58 (Neutral)
Trend Indicators:
- ADX(14): 16.58 (Sell)
- SMA20: 654.92 (Sell)
Oscillators:
- Williams %R: -70.57 (Neutral)
- CCI(14): -83.21 (Neutral)
This collective data implies a market currently in balance, with no overwhelming buying or selling pressure. Traders often monitor these indicators for signs of a potential price correction or breakout. For those looking to dive deeper into on-chain metrics and real-time analysis, you can explore advanced market analysis tools.
Trading and Exchange Information
BNB boasts high liquidity and is widely accessible. It is available for trading through 753 different trading pairs across 24 major exchanges. The leading platforms by 24-hour trading volume are Indoex ($442.13M) and **Binance** ($285.92M). This extensive availability ensures that users can easily buy, sell, and trade BNB with competitive fees.
Historical Price Context
Understanding historical performance is crucial for any investment decision. Over the past year, BNB has experienced considerable volatility. It reached its annual peak of $793.69** in December 2024 and found a low of **$403.42 in August 2024. This represents a significant range, highlighting both the potential for growth and the inherent risk in the crypto market.
Frequently Asked Questions
What is the primary use case for Binance Coin (BNB)?
BNB is primarily used to pay for transaction and trading fees on the Binance exchange at a discounted rate. Its utility has expanded to include payments for travel, entertainment, online services, and financial services within the Binance ecosystem and on its dedicated blockchain, BSC.
How does Binance Coin's tokenomics work?
Binance initially created 200 million BNB tokens. A key feature of its tokenomics is a quarterly "burn" event, where Binance uses a portion of its profits to buy back and permanently destroy BNB tokens. This process reduces the overall circulating supply over time, a mechanism designed to create deflationary pressure.
Is Binance Coin a good long-term investment?
The long-term value of BNB is often tied to the health and growth of the Binance ecosystem. Its utility and the token burn mechanism are positive factors. However, like all cryptocurrencies, its price is subject to high volatility and broader market conditions. Thorough research is essential, and you can access comprehensive investment guides to aid your decision-making.
What is the difference between BNB on Binance Chain and BNB on other networks?
BNB was originally an ERC-20 token on Ethereum but migrated to its own native Binance Chain. It can also be found as a BEP-20 token on the Binance Smart Chain (BSC). While these are different technical standards, the value is pegged 1:1, and users can seamlessly swap between them.
Where can I safely store my BNB tokens?
BNB can be stored in a variety of wallets. The official Binance Chain Wallet is a popular option. It is also supported by many major hardware wallets (like Ledger and Trezor) and software wallets (like Trust Wallet and MetaMask when configured for BSC).
Can I use BNB for purposes other than trading?
Absolutely. Beyond trading fee discounts, BNB is used for decentralized application (dApp) interaction on BSC, participating in token launches on Binance Launchpad, and even for credit card payments and gift card purchases through certain partnered services.
Conclusion
Binance Coin (BNB) remains a cornerstone of the cryptocurrency market, distinguished by its strong utility and integration within one of the world's largest crypto ecosystems. Its current market data shows stability with slight weekly gains, while technical indicators point towards a neutral near-term trend. As with any digital asset, potential investors should consider both the opportunities presented by its widespread use and the risks associated with market volatility. Conducting ongoing research and analysis is paramount for navigating the BNB market effectively.