$BNBBTC - daily chart update

Jul 9, 2020

BNBBTC - daily chart update

Binance Coin (BNB) is the cryptocurrency offspring from one of the world’s largest virtual currency exchanges, Binance. Binance launched the token in July 2017 as an ERC20 token based on the Ethereum blockchain, raising over $15 million in an initial coin offering (ICO).

Binance’s cryptocurrency exchange launched in early 2017, becoming the world’s largest cryptocurrency exchange desk (by trading volume) by April 2018.

Binance Coin is primarily used to pay for services and fees when trading other cryptocurrencies or digital assets on Binance itself. Using BNB often grants the trader discounts over using other payment methods on the exchange; as a result, it’s often characterized as a sort of loyalty coin.

BNB cannot be mined, as it was all premined during Binance’s initial offering. If you want to get your hands on some you’ll have to buy it through an exchange. Even though BNB is native to Binance, it can also be traded on other market places like Bancor, IDEX, and Gate.io.

Given the size and popularity of Binance, BNB has continued to grow as one of the most valuable cryptocurrencies available today.

Aug 2, 2020

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