Today: 2021-10-26 Disclaimer: This is not a financial advice

Is it a Good Time to Buy Binance Coin Right Now?

Current Price
$485.52
All Time High: $686.31

Binance Coin is down -29.08393% from its highest price on 2021-05-10.

2/5
Avarage Daily Volume: $910,710,488.00

Binance Coin has a daily trading volume of $910,710,488.00 which it will make it super easy for you to sell your holdings of Binance Coin

Community

Binance Coin has 6177825 total followers in all its social media accounts.

5/5
Exchanges

Binance Coin is listed on 100 exchanges

5/5
Price Potential

Binance Coin price value has the potential to increase to $9447.34 in the next crypto bull run.
Which may take up to 5 years from now.

Overall Score

Our algorithm believes it's So Good time to invest in Binance Coin right now. We give it all overscore of

3.75/5

Do you think it's a good time to buy Binance Coin right now?

Yea Nay


Be the first to vote for this coin!

Summary of Binance Coin(BNB):

Binance Coin(BNB) today price is $485.52, which is down -29.08393% from it's all time high. The avarage daily volume is $910,710,488.00 and you can trade Binance Coin on 100 exchanges.

6177825 people are following Binance Coin in all social media accounts.

Our algorithm believes it's So Good time to invest in Binance Coin with confident score of 3.75 out of 5.

What is Binance Coin(BNB)?

Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name "Binance" is a combination of binary and finance. Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing. In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB. The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance. Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas. Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.