BNB

What is Binance (BNB)? 

Binance Coin (BNB) is the network currency of Binance Exchange, the world’s biggest cryptocurrency exchange and most active blockchain platform after Ethereum. 

The Binance exchange was Launched in 2017 by Binance Holdings Ltd, China by the founder Changpeng Zhao, the CEO until October 2024, and a popular internet personality in the crypto space. Moved to Japan before the ban on cryptocurrencies by the Chinese government and then migrated to Malta on March 23, 2018, currently has no official headquarters announced currently active in over 180 countries.

Additionally, Binance exchange offers a complete crypto solution, hosting features like Wallet, Web3, Smart Pool, NFT marketplace, and Launchpad. Binance is also an active blockchain network having significance in smart contract developments, Tokens, NFTs, and DeFi next to Ethereum.

Binance is also a prominent Proof of Stake Blockchain called “ Binance Smart chain” which can handle 2000 transactions/seconds. The platform offers developers open-source smart contracts and Decentralized app-building features. With a TVL of 1.30B( Oct 2024) BSC stands as the top 3rd blockchain network after Ethereum at 0.941B. 

BNB (Build N Build ) coin on the Binance chain, also referred to as “Binance coin” launched in 2017 is the 4th largest cryptocurrency by market capitalization(October 2024). Initially built on Ethereum, but now active and used to cover network payments, utility, Staking, Tokenization, Trading, and Transaction fees. 

Binance (BNB) History :

• In July 2017, BNB (Binance Coin) was launched through an Initial Coin Offering (ICO) for a price was $ 0.10 per BNB. 

• On October 19, 2017, BNB was at an all-time low of $0.03982 and the price reached an all-time high of $717.48 On June 6, 2024.

• In 2018, Binance was the largest cryptocurrency by market capitalization of $1.3 billion.

• In 2019,Binance.com exchange announced Binance Jersey, an independent entity to expand its influence in Europe. The Jersey-based exchange offered fiat-to-cryptocurrency pairs, including the Euro and the British pound.

• The New York Department of Financial Services ordered crypto firm “Paxos” to stop creating new BUSD tokens in February 2023.

• In September 2023, Binance migrated BUSD from stablecoin BUSD to First Digital USD (FDUSD).

• The initial total supply was 144M BNB coins, of which 144M BNB are in circulation as of 2024.

Products of Binance

• The Exchange: A marketplace for trading securities, commodities, derivatives, and other cryptocurrency assets, ensuring fair trading and efficient distribution of price.

• Binance launchpad: Platform to offer first full-scale launch of cryptocurrency for trading on Binance exchange.

• Binary Pay: It is a global payment solution platform that allows users to make transactions across the world.

• Binance ATMs: It is an Automated Teller machine, found in public places that allows you to buy and sell BNB and other cryptocurrencies.

• Spot Trading: Trading of cryptocurrencies at their current market price on the Binance platform.

• NFT Market: Swapping or trading the Non-fungible tokens on Binance includes Element Market +6, PancakeSwap BNB Smart Chain, and Mobox BNB Smart Chain.

• Binance Pool: Platform allows the users to participate in mining.

Binance Coin Price Prediction:

• According to Coinpedia, Binance's price prediction for 2025 is expected to vary between a potential low of $761 and a high of $1,092, an average value of $926.

• In 2026, the Binance coin price ranges between $1,111 to $1,521,  the average cost is projected to be $1,316.

• In 2027, the BNB price could span from $1,292 to $1,750, with an average of $1,521.

• By 2028, the BNB coin or Binance coin would fall between $1,261 and $1,395, the average price is expected to be about $1,328.

• The average Binance price is estimated at around $2,174, with a potential low of $1,993 and a high of $2,355 by 2029.

• BNB price prediction in 2030 indicates an average price of $1,950. The asset may vary between a potential low of $1,819 and a high of $2,081. According to the consensus rating, current sentiment towards BNB is expected to increase in value and perform well in the market.

• To convert BNB TO USD or any other pair, you can utilize Coinpedis’s Converter https://markets.coinpedia.org/bnb/.

Where I Can Buy BNB?

• Centralized Exchanges: About 20+ best exchanges support BNB for swapping or trading, some of the best exchanges are Binance, Bybit, OKX, HTX, Gate.io, KuCoin, MEXC, and Bitget. 

• Decentralized Exchanges (Dex): Binance(BNB)  is swapped or traded on 70+ Dex like Kineprotocol, Balanced, WX Network, Woofi, and Thornchain.

Binance Supported Wallets: 

About 21 Wallets support Binance or BNB storage, a few top wallets include Trust Wallet, Binance Web3 Wallet, BNB Chain Wallet, Coin98, Mathwallet, Metamask, and SafePal.