Binance Coin ( BNB ) Price Live Chart

What Is BNB?

Launched in July 2017, BNB (Binance Coin) is the native cryptocurrency of Binance — the world’s largest crypto exchange by daily trading volume. In simple terms, if you’re even remotely active in the crypto duniya, chances are you’ve already crossed paths with BNB.

The name “Binance” itself is a play on words — a combination of “Binary” and “Finance”, signalling a new financial system rooted in digital assets.

But Binance isn’t just a plain-vanilla crypto exchange. It has grown into a full-fledged crypto ecosystem offering a bouquet of services like:

• Binance Chain
  
  

• Binance Smart Chain (BSC)
  
  

• Binance Academy
  
  

• Trust Wallet
  
  

• Binance Research
  
  

BNB is the fuel that powers much of this ecosystem — from transaction fees and token staking to smart contract operations and DeFi projects. Like the dhobi’s donkey, BNB does all the heavy lifting behind the scenes.

Who Are the Founders of BNB?

The man behind Binance and BNB is none other than Changpeng Zhao, fondly known as CZ in the crypto circles.

Before starting Binance, CZ had a solid career track record:

• Head of Tradebook Futures Development at Bloomberg (2001–2005)
  
  

• Partner at Fusion Systems, a high-frequency trading platform
  
  

• Became Head of Development at Blockchain.info
  
  

• Founded BijieTech in 2015
  
  

Come 2017, CZ launched Binance, and the rest is crypto history.

He’s joined by He Yi, the co-founder and CMO of Binance. She comes from a diverse background — starting out as a TV anchor for China Travel TV in 2012. She later co-founded OKCoin in 2014, which was one of China’s largest fiat-to-crypto exchanges. By 2017, she teamed up with CZ to build what would become the world’s largest crypto exchange — truly a jugalbandi of vision and execution.

What Makes BNB Unique?

BNB isn’t just another crypto token — it’s the beating heart of the Binance ecosystem.

Unlike many exchanges that rest on their laurels, Binance has gone full throttle. What started as a trading platform now offers services in:

• DeFi
  
  

• Gaming (Play2Earn)
  
  

• NFTs
  
  

• Lending & Borrowing
  
  

In short, they’re trying to be the Reliance Jio of crypto — offering everything under one roof!

Here’s what gives BNB the edge over the competition:

• Deflationary Tokenomics: Thanks to initiatives like BEP-95, BNB follows a burn model where a portion of transaction fees are permanently destroyed — reducing supply and increasing scarcity.
  
  

• Low Fees on Binance Smart Chain (BSC): Modeled after Ethereum’s EIP-1559, BNB’s tokenomics help reduce gas fees and decentralize the ecosystem further.
  
  

• Strong Recovery Post Hacks: Even after facing multiple exploits (like the $200M Pancake Bunny hack), users continue to flock back to Binance thanks to low fees and a meme coin-friendly environment.
  
  

All said and done, BNB is no flash in the pan — it’s here for the long haul.

What Is BNB’s Auto Burn?

In crypto, coin burning is like setting aside part of your salary for savings — except in this case, the tokens are permanently removed from circulation.

Binance started burning BNB in late 2017 and committed to reducing the supply by 50% (from 200 million to 100 million tokens). They conduct quarterly burns, and so far, over 38 million BNB tokens have been destroyed — worth crores in INR value!

Now here’s the twist — Binance introduced an Auto-Burn system that doesn’t depend on trading volume anymore.

BNB Uses Two Burn Methods:

1. Burning a portion of gas fees used on the Binance Smart Chain.
   
   

2. Auto-Burn Formula, based on:
   
   

• Number of BSC blocks produced
  
  

• Average market price of BNB during the quarter
  
  

As of July 2022, Binance had completed 20 burn events, slashing nearly 19.34% of BNB’s total supply.

Talk about a fat-to-fit transformation — this is tokenomics with discipline!

How Many BNB Are There in Circulation?

When it started, BNB had a maximum supply of 200 million coins. As of September 2021, roughly 168 million BNB were in circulation.

Binance burns BNB every quarter, and the goal is to destroy half the supply. Notable burn events include:

• April 2021: Burned tokens worth nearly $600 million
  
  

• July 2021: Burned $390 million worth of BNB
  
  

According to the Binance whitepaper, here’s how the 200M supply was distributed:

• 50% (100M) for the ICO & public sale
  
  

• 40% (80M) to the founding team
  
  

• 10% (20M) to angel investors
  
  

BNB’s ICO price was just $0.10. Today’s price? Let’s just say if you had invested ₹10,000 in 2017, you’d be laughing all the way to the bank with 4200x returns.

How Is the BNB Network Secured?

Initially, BNB was an ERC-20 token on Ethereum, but Binance soon launched its own blockchain.

Key Highlights:

• Binance Chain uses Tendermint BFT (Byzantine Fault Tolerance) for consensus
  
  

• Unlike Ethereum, Binance Chain does not support smart contracts
  
  

• Binance Smart Chain (BSC), launched later, supports smart contracts and is EVM-compatible
  
  

This gives BNB a hybrid advantage — fast transactions like a cheetah and the programmability of Ethereum. No wonder traders say, “BNB ki jai ho!”

Where Can You Buy BNB?

The most obvious place to buy BNB is on Binance itself. It offers:

• The lowest fees
  
  

• Most trading pairs
  
  

• High liquidity
  
  

However, for Indian traders who want a local flavour, SunCrypto offers BNB in INR and USDT pairs — perfect for investors looking to buy BNB with UPI or bank transfers.

With Play2Earn games and NFT buzz catching on, demand for BNB to INR and BNB to PHP pairs is also rising like jalebi in hot oil!

Final Thoughts

BNB is more than just a token — it’s the backbone of the Binance Empire. From fueling trades and DeFi protocols to being used in real-world payments, BNB’s utility is second to none.

With strong leadership, regular burns, low fees, and massive user adoption, BNB has cemented its place among the top cryptocurrencies globally. In desi terms, it’s a “paisa vasool” coin with long-term value.