![]() As well as CRO, FTX’s FTT token, Unus Sed Leo’s LEO token, and tokens from Huobi, KuCoin and OKB all have valuations greater than $1bn. ![]() What is the competition?Īlthough BNB is the largest exchange token by market cap, it is by no means the only one. ![]() The burn programme is set to close once 100 million BNB are burned, meaning that the total of BNB circulation will eventually reduce by half. 50% of all BNB are set to be burned over time – Credit: If you are wondering how many Binance coins are there burned so far, suggests a figure of just under 34.43 million. But although the benefits of burn tokenomics are debatable, the extremely bearish crypto market should also be considered against BNB’s price (and altcoins in general). Oddly enough, a price reading shows a subsequent drop in the value of BNB from $475.2 on 17 January to $358.3 by 22 January. In the most recent burn on 17 January, Binance removed 1,684,387 BNB from circulation for an estimated value of $800.42m. The Binance burnīinance executes coin burns every quarter, a key part of BNB’s tokenomics, intended to promote deflation and help sustain BNB’s market value. always recommends exercising caution when investing and trading cryptocurrency assets. BNB can be collateralised against several stablecoins on Binance’s lending platform, with the potential to earn APY (annual percentage yield) rewards. The Binance Launchpool and BNB Vault give holders several staking options, including yield aggregation and token sales. Trace amounts of non-tradable cryptocurrencies below the exchangeable value threshold (called ‘dust’) can also be converted into BNB. Holders benefit from large fee discounts on trading fees, both on the main exchange and Binance’s decentralised exchange (DEX). As a fully diluted cryptocurrency, BNB’s supply of coins in circulation is equal to the total supply, while a recent 24-hour trading volume of $1.324bn constituted 2.1% of market cap.īNB’s utility is multifaceted. How many BNB coins are there? The latest circulating supply totalled 165,116,760. ![]() How many BNB coins are there and what is the BNB cryptocurrency primarily used for? BNB coin: The big pictureīinance’s BNB coin, currently valued at more than $62.57bn, is the world’s foremost exchange token by a huge margin, beating its closest competitor, (CRO), by more than $50bn. The announcement came after the surprising resignation of chief executive Brian Brooks, who blamed “strategic differences”. In total, 403 digital assets and 1,634 markets maintain an average LR of 805.Īs reported by, Binance recently announced plans to relaunch its platform in the UK, after a ban imposed in June 2021 by the UK’s Financial Conduct Authority (FCA) over the exchange’s derivatives offering. Big hitters such as bitcoin, Ethereum, BNB, TerraUSD, Fantom, MANA and more all achieve ratings on Coin Market Cap above 700/1000, thus reducing the likelihood of slippage when executing a trade. Binance, launched in July 2017, is the largest centralised cryptocurrency exchange globally, frequently achieving daily trading volumes of more than $10bn and with more than 34 million users weekly, according to Coin Market Cap’s statistics.Īs the premier centralised exchange (CEX) in the world, Binance enjoys outstanding liquidity ratings (LRs) for most major digital assets.
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