The live BNB price today is $322.03 USD with a 24-hour trading volume of $2,177,178,258 USD. BNB is down 4.49% in the last 24 hours. The current ranking is #4, with a live market cap of $51,517,113,284 USD. It has a circulating supply of 159,976,269 BNB coins and a max. supply of 200,000,000 BNB coins.
How Does Binance Coin Work?
Binance coin powers the Binance ecosystem, from its crypto exchanges to its blockchain project known as Binance Chain. Its crypto exchanges — including Binance and Binance.US — allow users to sell, buy, or trade cryptocurrencies, while Binance Chain allows developers to build financial, gaming, and metaverse apps.
BNB Smart Chain: This chain is compatible with the Ethereum Virtual Machine, which is a way of bringing smart contracts to other blockchains. Additionally, it allows developers to build out different apps, from gaming to decentralized finance.
BNB Beacon Chain: This chain overseas the governance of Binance, such as voting. In this chain, it’s also possible to hold the BNB coin and earn interest, otherwise known as staking.
How to Buy Binance Coin
The easiest way to buy Binance coin is to purchase it on a cryptocurrency exchange that offers it. It can be a little more difficult to buy BNB in the United States, although you can buy it on Binance.US, Crypto.com, and eToro. While Binance.US offers lower fees than other exchanges, it lacks transparency about security and has a history of regulatory issues in the U.S., which is why experts recommend sticking with more mainstream exchanges.
Binance Coin Price History
Binance coin entered the market in 2017 at a price of nearly 11 cents, and doubled in price within a year.
By the beginning of 2021, binance coin had a price of nearly $40. Throughout 2021, binance coin soared in value along with a lot of other coins, reaching a high of just over $675 in May of that year. Within a few weeks, binance coin fell to about $354 by the end of May and fluctuated significantly in value for the remainder of 2021. By the beginning of 2022, binance was back below $500.
Why BNB, Binance Chain Coin, price is falling today.
BNB Price Crash News: The price of BNB, the native crypto of Binance Chain, fell around 8 percent in the last 24 hours. In the last 7 days, BNB price has decreased by 11.31 per cent. At the time of writing, BNB price was $2.84, down 7.53 percent, according to data on CoinMarketCap.
Interestingly, BNB was one of the few coins that witnessed sharp price jump while all other coins were falling recently (read details here). The sudden fall in BNB price may have come as a surprise to many crypto investors and traders. So what is the reason behind the current fall in BNB price?
The immediate reason behind the fall in BNB price may be the launch of an investigation by US SEC against Binance’s native token. The Commission is probing whether Binance has broken the US securities law.