BNB Was Launched Through an ICO
The public sale distributed 100 million BNB in exchange for bitcoin and ether.
ABOUT BNB
What Is BNB? Binance Coin and BNB Chain Explained
BNB is the native utility and governance asset of the BNB Chain ecosystem. Originally launched by Binance in 2017 as an ERC-20 token called Binance Coin, it is now used for network fees, staking, governance and applications across BNB Chain.
This BNB cryptocurrency overview explains how Binance Coin developed from an exchange utility token into the asset powering BNB Chain. Explore its origins, network role, supply model, market value and present-day uses.
BNB Coin Profile
BNB at a Glance
Get a concise overview of BNB’s origins, from its launch as Binance Coin to its current role across BNB Chain. The facts below explain its purpose, supply model, primary network, consensus and governance structure.
BNB Origins
THE TOKEN SALE
THE FIRST UTILITY
THE NATIVE MIGRATION
When Was BNB Created?
BNB was launched through an initial coin offering held from June 26 to July 3, 2017, shortly before Binance Exchange opened for trading. The issue price was set at 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB.
The original supply consisted of 200 million BNB. Of that amount, 100 million was assigned to the public sale, 80 million to the founding team and 20 million to angel investors. BNB initially existed as an ERC-20 token on Ethereum and was designed to provide utility within the developing Binance ecosystem, including eligible trading fee discounts.
BNB Became a Binance Utility Token
BNB was initially used within the Binance ecosystem, including for eligible trading fee discounts.
BNB Moved to Binance Chain
BNB transitioned from its original ERC-20 format to the native asset of the network then called Binance Chain.
BNB EVOLUTION
July 2017
April 23, 2019
September 1, 2020
February 2022–December 2024
How Has BNB Evolved?
BNB, originally launched as Binance Coin in 2017, began as an ERC-20 token on Ethereum and was first used within the Binance exchange ecosystem. It later migrated to Binance Chain and became the network’s native asset for transfers and fees.
Binance Smart Chain introduced smart-contract functionality in 2020. The ecosystem became BNB Chain in 2022, while BNB Chain Fusion later moved Beacon Chain functions to BNB Smart Chain before Beacon Chain closed in 2024.
BNB Launched on Ethereum
BNB was introduced as an ERC-20 token and used for exchange fees and other services within the Binance ecosystem.
Binance Chain Mainnet Launched
BNB migrated from Ethereum to Binance Chain and became the network’s native asset for transactions and fees.
Binance Smart Chain Launched
The parallel smart-contract network expanded BNB into decentralized applications, staking and other on-chain activity.
The BNB Chain Ecosystem Unified
The ecosystem adopted the BNB Chain name, while BNB Chain Fusion later transferred Beacon Chain functions before its shutdown.
NETWORK MECHANICS
How Does BNB Smart Chain Work?
BNB Smart Chain is an EVM-compatible blockchain that uses BNB for gas, staking and network participation. Wallets sign transactions, while gas fees in BNB cover the computing resources required to process them.
Validators selected through Proof of Staked Authority check transactions and add blocks. BNB holders can delegate to validators, while BEP-95 permanently removes a governed portion of collected gas fees.
01
Sign
The wallet signs the transaction with the account’s private key, confirming that the holder authorized it.
02
Pay Gas
The transaction includes a gas fee in BNB based on the network resources required to process it.
03
Validate
Selected validators check the transaction and include it in a block under Proof of Staked Authority.
04
Record and Burn
The confirmed transaction becomes part of the blockchain record, while BEP-95 burns a governed portion of collected gas fees.
What Shapes the BNB Price?
The BNB price, also commonly referred to as the Binance Coin price, is determined by supply and demand across the markets where the asset is traded. Demand may come from network fees, staking, BNB Chain applications, supported Binance services or general market activity.
BNB’s supply is reduced through quarterly Auto-Burn events and a real-time mechanism connected to BNB Smart Chain gas fees. These mechanisms reduce the number of BNB in existence, but they do not guarantee that the price will rise. Liquidity, regulation, network activity, security events and broader crypto-market conditions can all affect the BNB coin price.
Network Activity
Greater use of BNB Smart Chain, opBNB and supported applications can affect demand for BNB as a network asset.
Supply Burns
Auto-Burn and real-time gas-fee burns reduce supply over time, although the market effect depends on demand.
Staking and Governance
BNB can be staked with validators and used to participate in eligible governance processes.
Binance Utility
Supported Binance users may use BNB for trading fee discounts and access to selected products, subject to availability and current terms.
Market Liquidity
Available liquidity and order-book depth can affect how sharply the price moves when larger trades are placed.
Regulation and Market Conditions
Legal developments involving BNB or Binance, network security and wider crypto-market conditions can influence demand and volatility.
What Is the BNB Price Today?
The BNB price in USD today is $774.28, down 0.47% over the past 24 hours. The live BNB Snapshot above provides its current market capitalization, trading volume, price range and latest update time.
Can the BNB Price Go Back Up?
No one can know with certainty whether BNB will rise after a price decline. Previous recoveries do not guarantee future performance, and BNB can remain below an earlier record for an extended period.
Is BNB Still Called Binance Coin?
BNB was originally known as Binance Coin. BNB Chain now uses the name BNB and associates it with “Build and Build,” reflecting the asset’s wider role across the blockchain ecosystem. Binance remains one of the services where BNB has utility, but Binance and BNB are not interchangeable terms.
What Is BNB Used For?
BNB is used across decentralized networks and supported centralized services. On BNB Chain, it can pay transaction fees, support validators through staking, provide access to governance and enable interactions with decentralized applications.
BNB also retains utility on Binance, where eligible users may use it for trading fee discounts and selected products. Availability, benefits and requirements can differ by service and jurisdiction, so these exchange-based uses should be kept separate from BNB’s role as the native asset of BNB Chain.
Pay Network Fees
BNB is used to pay gas when transferring assets or interacting with smart contracts on BNB Smart Chain and supported BNB Chain networks.
Stake and Govern
Holders can delegate BNB to validators and, through eligible staking positions, participate in network governance.
Use Applications
BNB can be used to interact with supported DeFi platforms, games, marketplaces and other applications across the ecosystem.
Access Binance Services
Eligible users can use BNB for trading fee discounts and selected Binance products, depending on current terms and regional availability.
USING BNB
Before You Use BNB
Check the network, service terms and security requirements before transferring, staking or using BNB.
Network and Wallet
Network Selection
Confirm that the wallet, receiving address and selected network support the intended BNB transfer.
Costs and Access
Fees and Lockups
Review network fees, exchange charges, staking conditions and any applicable withdrawal or unbonding periods.
Security and Records
Transaction Details
Verify addresses and smart contracts carefully, and retain records needed for security, accounting or local tax obligations.
Tax Note Selling or exchanging BNB may create tax-reporting obligations. The applicable treatment depends on your jurisdiction and individual circumstances.