BNB
Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name "Binance" is a combination of binary and finance.
Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing.
In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB.
The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance.
Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas.
Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.
Bitcoin News / Google News Bitcoin - 9 months ago
5 Cryptos to Follow Ripple's Victory: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB) DigiToads (TOADS), Cardano ...& & Analytics Insight
Cryptocoins News / CoinJournal - 9 months ago
Cryptocurrencies traded largely lower today, with Bitcoin dipping to below $29k.
BNB moved above XRP although bulls need to keep prices above $330 to keep bears at bay, otherwise it could dump to $220 or lower.
Dogecoin spiked as Twitter rebranded t...
Cryptocoins News / The Cointelegraph - 9 months ago
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins. Bitcoin plunged to $29,000 on July 2...
Bitcoin News / Google News Bitcoin - 9 months ago
‘The Sky’s The Limit’—Crypto Now Braced For A Multi-Trillion Wall Street Earthquake After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron And Polygon Price Boom& & Forbes
Cryptocoins News / The Cointelegraph - 9 months ago
Several Bitcoin price indicators suggest that BTC’s narrow trading range could end soon, resulting in a volatile price move in BTC and altcoins. Bitcoin continues to t...
Cryptocoins News / Blockchain - 9 months ago
Discover BNB Chain's strategy for onboarding 1 billion Web3 users, bridging the decentralized tech gap, managing transaction costs, and future platform developments in our exclusive interview. (Read More)
Cryptocoins News / The Cointelegraph - 9 months ago
Bitcoin’s failure to rebound off strong support levels increases the risk of a deeper correction that could also negatively impact altcoins. After failing to sustain a...
Cryptocoins News / The Cointelegraph - 10 months ago
Bitcoin bulls have failed to step in, increasing the chance for a retest of the $29,500 support. Bitcoin remains stuck inside a narrow range, making it difficult to pr...
Cryptocoins News / CoinJournal - 10 months ago
BNB coin has become heavily shorted in the perpetual futures market.
It has also formed a bearish flag pattern on the daily chart.
Binance Coin has come under intense pressure in the past few weeks as short bets in the futures market increased....
Cryptocoins News / The Cointelegraph - 10 months ago
Bitcoin and several altcoins are taking a breather after the sharp rally of the past two days, but the general trend remains bullish. Ripple Labs’ victory in the case...
Bitcoin News / Bitcoin.com - 10 months ago
PRESS RELEASE. BNB Chain, the world’s largest smart contract blockchain in terms of daily active users, has today announced Hackvolution, its global 7-week Hackathon, starting on July 13th and running until September 1st. Hackvolution gets support fr...
Cryptocoins News / CoinJournal - 10 months ago
Key takeaways
BNB Chain is set to undergo its ZhangHeng upgrade later this month.
The upgrade will address blockchain exploit risks, and no new BNB tokens will be issued.&
BNB Chain to undergo a major hard fork later this month
BNB Chain,...
Bitcoin News / Google News Bitcoin - 10 months ago
‘A Big Deal’—Crypto Braced For A $30 Trillion Earthquake After Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Litecoin, Solana, Tron And Polygon Price Boom& & Forbes
Bitcoin News / Bitcoinist - 10 months ago
Binance’s BNB Chain is set to undergo the “ZhangHeng” upgrade later this month as the issue of network security continues to be a persistent concern in the cryptocurrency markets. According to the developers working on the project,...
Cryptocoins News / The Cointelegraph - 10 months ago
BNB Beacon Chain mainnet is set to undergo the "ZhangHeng" hard fork around July 19, which will bring new upgrades aimed at improving security. The Binance-operated BN...
Cryptocoins News / The Cointelegraph - 10 months ago
BNB Beacon Chain mainnet is set to undergo the “ZhangHeng” hard fork around July 19, which will bring new upgrades aimed at improving security. The Binance-operated BN...
Cryptocoins News / The Cointelegraph - 10 months ago
Persistent regulatory actions and concerning derivatives data are likely the main factors behind BNB’s bearish price action. The price of BNB has experienced a 24.5%...
Cryptocoins News / The Cointelegraph - 10 months ago
Bitcoin continues to face strong resistance at $31,000, but supportive macroeconomic factors could tilt the advantage in favor of the bulls. Bitcoin bulls are again ha...
Cryptocoins News / The Cointelegraph - 10 months ago
The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term. Bitcoin has been struggling to rise and sustain above the $31,000 level fo...