Binance Coin (BNB) is a cryptocurrency that was created by the cryptocurrency exchange platform Binance. It was launched in 2017 and has since become one of the largest cryptocurrencies in terms of market capitalization. BNB operates on the Binance Chain blockchain, which was also developed by Binance.
The main purpose of BNB is to serve as the native token for the Binance platform. Users can utilize BNB to pay for trading fees on the Binance exchange, participate in token sales hosted on Binance Launchpad, and access various other features and services within the Binance ecosystem. Binance has also implemented a token burn program, where a portion of BNB’s supply is periodically burned to increase its scarcity and potentially drive up its value.
Binance has gained significant popularity due to its wide range of supported cryptocurrencies, user-friendly interface, and strong security measures. The exchange has consistently been one of the highest-volume trading platforms in the cryptocurrency industry.
In addition to its utility within the Binance ecosystem, BNB has also seen adoption beyond the platform itself. Many other cryptocurrency exchanges have listed BNB, allowing users to trade it against other cryptocurrencies. Furthermore, BNB has been integrated into various third-party platforms and applications.
Binance has continued to expand its services and offerings over the years. In 2019, the company launched Binance Chain, a blockchain platform that enables the creation and issuance of digital assets. Binance Chain also facilitated the migration of BNB from the Ethereum blockchain, where it initially existed as an ERC-20 token, to its own blockchain.
Binance has also introduced other products and initiatives, such as Binance Launchpad, which provides a platform for the launch of new blockchain projects through token sales. Additionally, Binance has launched Binance DEX, a decentralized exchange that operates on the Binance Chain.
The success of Binance and the widespread adoption of BNB have made it a prominent player in the cryptocurrency industry. BNB’s market value has experienced significant growth since its launch, and it has consistently ranked among the top cryptocurrencies in terms of market capitalization.
Faces Regulatory Challenges in the United States.
The U.S. regulatory concerns surrounding Binance primarily revolve around issues related to compliance, licensing, and investor protection. Here are some key actions and developments:
SEC Investigation: In 2021, the U.S. Securities and Exchange Commission (SEC) initiated an investigation into Binance’s activities. The SEC is reportedly examining whether Binance violated securities laws by allowing U.S. residents to trade securities tokens without proper registration or compliance measures.
CFTC Probe: The Commodity Futures Trading Commission (CFTC) has also shown interest in Binance’s operations. The CFTC is investigating whether Binance allowed U.S. customers to trade derivatives without the necessary regulatory approvals.
State-level Scrutiny: Individual U.S. states, such as New York, have taken their own actions against Binance. The New York State Department of Financial Services (NYDFS) denied Binance a license to operate in the state, citing concerns about anti-money laundering (AML) and Know Your Customer (KYC) practices.
AML Compliance: Binance has faced criticism for allegedly inadequate AML and KYC procedures. These concerns relate to potential money laundering risks and the platform’s ability to prevent illicit activities.
More? Days ago, United States crypto exchange Binance.US has informed customers it has resolved its U.S. dollar withdrawal issues after working with its banking partners but warns the relief may not last.
The reportedly independent subsidiary of crypto exchange Binance told customers in an update that its system remains fully operational and that U.S. dollar withdrawal requests are expected to go back to their normal five-business-day turnaround.
DATA for Binance Coin
What is the all-time high for BNB (BNB)?
The highest price that has been paid for BNB (BNB) is US$686.31, the highest that was recorded on May 10, 2021 (about 2 years). In comparison, the current price is -64.02% lower than the all-time high price.
What is the all-time low for BNB (BNB)?
The lowest price ever paid for BNB (BNB) is US$0.03981770, lowest recorded on Oct 19, 2017 (over 5 years). By comparison, the current price is 619,976.85% higher than the all-time low price.
What is the market capitalization of BNB (BNB)?
The market capitalization of BNB (BNB) is $38,482,306,712 and today it is ranked #4 on CoinGecko. Market capitalization is measured by multiplying the token price by the number of BNB tokens in circulation (there are 160 million tokens available for trading on the market today).
What is the titration after full dilution of BNB (BNB)?
The valuation after full dilution (FDV) of BNB (BNB) is US$49,382,128,668. This is a statistical representation of the maximum market capitalization, assuming the maximum number of BNB tokens are in circulation today (200 million). Depending on how the BNB token issuance schedule is designed, it may take several years before the FDV is reached.
Real time chart
Laterality with volatility (logarithmic long-term graph), in a large upward trend since its inception.
What can we expect for Binance Coin (BNB) for the continuation of its long term? I always comment that no one here has a crystal ball and that the regulations that are yet to come can hinder what seemed to be successful. But and speaking of the most powerful centralized cryptocurrency exchange on the planet and with the adoption that is yet to come, the one that gets more clients is a great possibility. Based on fundamentals, it seems that it has a promising future.
And by technician?
Technical analysis, the technique of future identification, of price movement, is not an exact science. Even so, it helps us to identify what seems, is happening and could happen.
In my opinion, always DYOR for each investor, since it is not a buy recommendation, I think that after two years on the side, and with the crypto summer approaching, the chances of it continuing to move upward are very high.
Good luck with your investment decision.