|Market Cap||36.19 B|
|24 Hour Trading Vol||1.26 B|
|Fully Diluted Valuation||36.19 B|
|Total Supply||153.86 M|
|Max Supply||200.00 M|
Binance Coin is the cryptocurrency used by the Binance platform. It is a platform for trading cryptocurrency. The term "Binance'' is derived from the words binary and finance. As a result, the startup's name implies that only cryptocurrencies can be exchanged against one another. It is not feasible to trade cryptocurrencies over fiat. The platform has achieved significant success in a short period of time and is concentrated on the global market, with its headquarters in Malta.
The cryptocurrency presently has a daily trading volume of 1.5 billion to 2 billion US dollars and is continually growing. There will be a maximum of 200 million BNB coins. Binance employs the Ethereum ERC20 token standard and has allocated it as follows: 50% sold on ICO, 40% to the team, and 10% to angel investors. The currency may be used to pay Binance fees. These comprise trading costs, transaction fees, listing fees, and others.
Binance offers a significant discount when fees are paid in BNB. The following is the discount plan for BNB fees: The first year offers a 50% reduction on all costs, the second year a 25% discount, the third year a 12.5% discount, the fourth year a 6.75% discount, and the fifth year offers no discount. This structure is meant to encourage users to purchase BNB and execute transactions on Binance.
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