Live BNB Market Overview
BNB has demonstrated positive momentum this week. The current live BNB price stands at 2,743.00 XLM, with a 24-hour trading volume of 2,996,591,608 XLM. Over the past day, BNB has seen a slight increase of +0.05%. However, in the most recent hour, the price experienced a minor decline of -0.10%.
The total supply of BNB is valued at $145,887,575.79, with the current circulating supply matching this amount. BNB currently holds the #5 ranking on CoinGecko, reflecting its significant position in the cryptocurrency market.
Key market metrics include:
- Circulating Supply: $145.89M
- Fully Diluted Market Cap: $96.31B
- Market Capitalization: 400,200,908,581.00 XLM
Real-Time Conversion Rates
As of the latest update, converting 1 BNB to XLM yields an equivalent value of 2743 XLM. The current exchange rate is fixed at 1 BNB = 2,743.00 XLM. For those monitoring these conversions regularly, understanding the underlying factors affecting these rates is crucial for optimal trading decisions.
👉 Track real-time conversion rates
Understanding Binance Coin (BNB)
Binance Coin (BNB) serves as the native cryptocurrency of Binance, the world's largest cryptocurrency exchange founded in 2017. Initially launched as an ERC-20 token on the Ethereum blockchain, BNB later migrated to the Binance Smart Chain, now known as BNB Smart Chain.
Utility and Functionality
BNB functions primarily as a utility token within the expansive Binance ecosystem. Token holders can utilize BNB for various purposes including:
- Paying transaction fees on Binance exchanges
- Participating in token sales on Binance Launchpad
- Booking travel arrangements through Binance's travel portal
- Purchasing goods and services from merchants accepting BNB
- Fueling transactions on the BNB Chain network
The token's design incorporates a quarterly burn mechanism, where Binance uses a portion of its profits to buy back and permanently destroy BNB tokens. This process reduces the overall supply, potentially increasing scarcity and value over time.
Trading and Acquisition Options
BNB is widely available across both decentralized (DEX) and centralized (CEX) cryptocurrency exchanges. Binance itself remains the primary platform for trading BNB, though numerous other exchanges list the token for trading against various pairs.
For comprehensive market monitoring, traders often utilize portfolio management applications that allow tracking of BNB prices alongside thousands of other cryptocurrencies across multiple exchanges from a single interface.
👉 Explore advanced trading strategies
Frequently Asked Questions
What determines the price of BNB?
BNB's price is determined by market supply and demand dynamics on various cryptocurrency exchanges. Factors include overall market sentiment, adoption rates within the Binance ecosystem, regulatory developments, and broader cryptocurrency market trends. The token burn mechanism also influences long-term valuation.
How does BNB differ from other exchange tokens?
BNB stands out due to its extensive utility across the largest cryptocurrency exchange ecosystem. Unlike many exchange tokens that primarily offer fee discounts, BNB provides access to multiple services including decentralized finance applications, token sales, payment processing, and more across the entire Binance network.
Can I use BNB for purposes other than trading?
Yes, BNB has expanded beyond simple trading utility. You can use it for payment processing at numerous online and physical merchants, participate in decentralized applications on BNB Chain, book travel accommodations, and even use it for financial services within supported platforms.
What is the token burn mechanism?
Binance conducts quarterly burns where they permanently remove BNB tokens from circulation. The amount burned is based on trading volume and overall exchange performance. This process continues until 50% of the total BNB supply (100 million tokens) is eliminated, creating deflationary pressure.
How secure is the BNB blockchain?
BNB operates on its own blockchain (BNB Smart Chain) which utilizes a Proof of Staked Authority consensus mechanism. This hybrid model combines elements of Proof of Authority and Delegated Proof of Stake, aiming to provide both security and high transaction throughput for network participants.
Where can I safely store my BNB tokens?
You can store BNB in various wallets including hardware wallets like Ledger and Trezor, software wallets such as Trust Wallet and MetaMask, or directly on Binance exchange. For large amounts, hardware wallets provide the highest security, while software wallets offer convenience for frequent trading.