What is Binance coin?

Binance Coin is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. As of June 2023, Binance Exchange is the largest cryptocurrency exchange in the world, with a volume of $8.3 billion. Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.

What is BNB coin?

BNB Coin is a cryptocurrency that is used primarily to pay transaction and trading fees on the Binance exchange. What Is the BNB Coin Used for? Beyond the Binance exchange, Binance Coin has several uses, including the ability to: What Does Convert to BNB Mean?

What is the current supply inflation rate for Binance coin (BNB)?

The current yearly supply inflation rate is -4.64% meaning -7.48M BNB were created in the last year. In terms of market cap, Binance Coin is currently ranked #1 in the Exchange Tokens sector, ranked #1 in the Binance Smart Chain sector and ranked #3 in the Layer 1 sector.

How often does Binance Burn (Destroy) BNB coins?

Binance has committed to burn (destroy) BNB coins every quarter based on the trading volume performed on the Binance exchange within a 3-months period. After each quarter, Binance performs a BNB burning event destroying the respective quantity of coins.