In its whitepaper, Binance states that BNB was designed to be used to pay discounted fees on the Binance platform and also function as the native token powering the Binance Chain. The Binance exchange is separated into the Spot market, Futures market, as well as the decentralized exchange, Binance DEX.īNB was initially created as part of the Binance exchange through its ICO. Binance started with an Initial Coin Offering (ICO) and has since grown into one of the largest global cryptocurrency exchanges, both in terms of volume traded and market share by web traffic.
BNB can be traded in over 300 trading pairs across 120 exchanges tracked.īinance is the cryptocurrency exchange founded by Changpeng Zhao and He Yi in July 2017. Several rounds of token burn events have appreciated BNB price and pushed it up as one of the top-10 cryptocurrencies by market capitalization. Initially created on the Ethereum blockchain as an ERC-20 token in July 2017, BNB was migrated over to Binance Chain in February 2019 and became the native coin of the Binance Chain.īinance Coin has seen massive growth in interest throughout the years. Binance Coin (BNB) is an exchange-based token created and issued by the cryptocurrency exchange Binance.
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