Binance Coin (BNB) is a utility token launched in 2017 by Binance \u2014 one of the largest cryptocurrency exchanges in the world. This launch is a part of the vision put forward by Changpeng Zhao \u2014 the founder of Binance Coin, as well as Binance exchange itself. His goal is the expansion of the Binance ecosystem, which also includes the development of its own blockchain, rolling out a wallet, opening some public educational resources, etc.BNB was initially issued through an initial coin offering (ICO) on the Ethereum blockchain, to be used for discount trading fees. However, the system\u2019s evolution changed how Binance Coin works:After the migration onto the Binance chain, BNB became a primary means of powering the network as transaction fees, including trading fees on Binance DEX;BNB is used as a digital currency, as it\u2019s a popular way to pay for the goods and services in the Binance partner network;Another use case for Binance coin is unlocking the exclusive access to some IEOs made on Binance platform called Launchpad;BNB token also powers Binance Smart Chain, which is a smart contract compatible chain.Binance Coin is a deflationary currency, meaning that its supply is steadily shrinking, increasing the coin\u2019s scarcity and, therefore value. To achieve this, Binance buys back some of the circulating supply of BNB every quarter and burns it.Binance Coin joined the crypto market rally in late January 2021, growing from ~$40 to ~$330 in a month. In March, the price of BNB went down, trading in the $250-$300 range for a while, but in April, Binance Coin resumed its meteoric rise, which resulted in an all-time high of $690.93 on May 10.In late May 2021, Binance Coin\u2019s price plunged as the whole crypto market crashed. At around $200, it bounced back, reaching ~$430, but this recovery was short-lived:\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Binance Coin (BNB) is a utility token launched in 2017 by Binance \u2014 one of the largest cryptocurrency exchanges in the world. This launch is a [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/5159"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=5159"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/5159\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=5159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=5159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=5159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}