Binance Coin is enjoying incredible gains amid a strong buying spree by crypto investors, and has now become the third most valuable crypto asset worldwide.
At press time, Binance Coin traded at $294.52 with a daily trading volume of $16.4 billion. Binance Coin is up 26.43% for the day.
The world’s third most valuable crypto asset now has a market value of $45.5 billion. It currently has a circulating supply of 154,532,785 BNB coins and a maximum supply of 170,532,785 BNB coins.
The creator of this fast-rising crypto, Binance, had experienced an exponential surge in crypto trading over the past few months amid growing interest from crypto investors, making it by far the world’s largest crypto exchange.
Binance recently released the 2021 Global Crypto User Index report and revealed that the adoption of cryptos has quickened more than many had earlier envisaged, after major players showed support for the crypto market.
The leading crypto exchanges which trades the world’s most valuable exchange tokens include Binance, BiKi, HBTC, Hydax Exchange, and CoinTiger.
What you should know
- BNB was created at its initial coin offering about three years ago before the Binance crypto exchange existed.
- It was originally designed as an ERC-20 token running on the Ethereum network, with a finite supply pegged at 200 million coins, and 100 million BNBs offered in the ICO.
- However, shortly after that, the ERC-20 BNB coins were exchanged with BEP2 BNB on a 1:1 ratio in April 2019 with the launch of the Binance Chain mainnet, and are now no longer hosted on the Ethereum network.
- BNB is primarily used for payments and can’t be mined. It’s a utility token to pay for fees on the Binance exchange and for participation in token sales on the Binance Launchpad.