When it comes to crypto prices, there are several well-known names that are often mentioned. The three most popular virtual currencies are Bitcoin, Ethereum and Litecoin. Since its inception in 2017, Binance Coin (BNB) has experienced an extraordinary adventure.
In this article, we will discuss everything you need to know about BNB: what it is, how it works and its future!
How much is BNB worth today – Live Price and Chart
The live price of BNB today is €284.59 and the 24-hour trading volume is €424,099,127.
We update the value of BNB in EUR in real time. The price of BNB has changed by -0.32% in the last 24 hours.
The current position in cryptocurrency market capitalisation is #4 and the real-time market capitalisation is €44,931,952,261.
If you want to know where to buy Binance coin, then check our comparison of the best crypto exchanges.
Binance coin price history
As mentioned above, Binance issued its new token in 2017 in the form of an ICO. In free trading, Binance Coin reached an initial price of $0.10. Within four months, the price reached around $10. The chart reached its temporary peak on 13 January 2018 at a price of $22.77.
During the same period, the entire cryptocurrency market started to decline.
However, the BNB exchange rate remained largely stable and rose steadily after the spring 2018 correction. Interestingly, Binance has been very successful as an exchange and has become one of the most popular cryptocurrency exchanges. On 22 June 2019. Binance reached its record exchange rate of $39.57.
During the coronavirus crisis, the price of the token dropped to $8.84, but recovered very quickly and has since shown a steady increase.
By mid-February 2021. BNB reached a value of almost $350. Later in the year, it reached $700. A truly impressive development.
BNB is now trading at $305,48 per coin.
Factors Influencing Binance coin Price
If you’re interested in investing in cryptocurrency, Binance coin is a popular choice. However, like any investment, it’s important to understand the factors that can influence the price of Binance coin.
One of the most significant factors is the overall health of the cryptocurrency market. If the market is performing well, with high demand and positive news, it’s likely that the price of Binance coin will also rise. On the other hand, if the market experiences a downturn, Binance coin’s price may drop.
Another factor that can influence Binance coin’s price is adoption rates. The more businesses and individuals that use Binance coin, the higher the demand for it will be, which can drive up its price. This is because Binance coin can be used to pay for various services and products on the Binance platform.
Regulation is also a key factor in Binance coin’s price. As governments around the world continue to develop regulations around cryptocurrency, Binance coin’s value may be impacted by changes in these regulations.
Lastly, it’s important to keep an eye on Binance’s own business developments, such as partnerships and new services or products. These can have a significant impact on Binance coin’s price, as they may drive up demand for the coin.
In summary, understanding the factors that influence Binance coin’s price is essential for anyone looking to invest in cryptocurrency. Keeping up with market trends, adoption rates, regulation changes, and Binance’s own developments can help you make informed decisions about investing in Binance coin.
Investment and Trading Tips for Binance Coin
Investing in Binance Coin (BNB) can be a potentially lucrative opportunity, but like any investment, it comes with risks. However, with a well-informed strategy, you can potentially benefit from the potential gains that BNB offers.
Here are some investment and trading tips to help you make the most out of Binance Coin:
- Choose a reliable exchange: When buying and selling BNB, it’s crucial to use a trusted and reputable cryptocurrency exchange. Look for exchanges that offer top-notch security measures, low fees, and an easy-to-use interface.
- Consider professional advice: If you’re new to cryptocurrency investing, it’s advisable to seek guidance from a professional advisor. They can help you navigate the complex world of cryptocurrency investing and provide advice on how to make the most out of your Binance Coin investment.
- Read platform reviews: Before choosing a trading platform, consider reading reviews of popular ones such as Binance and eToro. These platforms can provide you with access to Binance Coin and other cryptocurrencies, as well as a range of trading and investment tools. Our How to Buy Binance Coin guide includes reviews of popular exchanges to help you choose the right one for your needs.
By utilizing these resources and tools, you can potentially benefit from the potential gains of Binance Coin while minimizing risk and maximizing returns. Always do your research and stay up-to-date with the latest market trends and news related to Binance Coin and other cryptocurrencies to make informed investment decisions.
FAQ about the BNB price
What is Binance Coin (BNB)?
Binance Coin (BNB) is a cryptocurrency that is used to pay for fees on the Binance cryptocurrency exchange platform.
What factors influence the price of Binance Coin?
The price of Binance Coin is influenced by a variety of factors, including the overall demand for cryptocurrencies, the popularity of the Binance platform, news and developments related to Binance and its technology, and the performance of the wider cryptocurrency market.
Is Binance Coin a good investment?
As with any investment, it’s important to do your own research and make an informed decision. However, Binance Coin has shown steady growth over the years and has a strong reputation as a reliable cryptocurrency.
How can I buy Binance Coin?
Binance Coin can be bought and sold on a variety of cryptocurrency exchanges, including Binance itself. Check out our How to Buy Binance Coin guide for more information on buying BNB.
How do I store Binance Coin?
Binance Coin can be stored in a variety of cryptocurrency wallets, including hardware wallets, desktop wallets, and mobile wallets. It’s important to choose a wallet that offers strong security features to protect your investment.
Is it safe to invest in Binance Coin?
As with any investment, there are risks involved in investing in Binance Coin. It’s important to do your own research, assess your risk tolerance, and make an informed decision before investing.
How can I stay up to date on Binance Coin news and developments?
You can stay up to date on the latest news and developments related to Binance Coin by following the official Binance blog and social media accounts, as well as reputable cryptocurrency news outlets.
What is the future of BNB’s value?
The future of the Binance chain looks promising. The currency has enjoyed tremendous growth since its inception and shows no signs of slowing down. We can expect BNB’s development to continue in the future, thanks to the growing popularity of the Binance exchange and the increasing use of Binance’s Smart Chain. Thank you for taking the time to read this article! Hopefully, as we learn more about BNB, we will be better equipped to appreciate its potential!
Author: Gianluca Lombardi
Gianluca is the editor-in-chief of this site. A finance graduate, he is an active trader who has tested all trading platforms and knows all their secrets. Technology is his passion; he spends much of his free time in the metaverse. Gianluca loves learning new things, researching, discussing and writing about technology, especially when it comes to cryptocurrency and blockchain technology.