Binance Coin Price BNB

$1,106.70

-2.29%

Buy Now

Price Information

1 Year Change

93.11%

All Time High

$1,370.98 -19.34%

Volume 24h

3.6 B $ -50.64%

Market Cap

154.0 B $ -2.29%

Buy Now

Price Alert

Create a price alert and never miss the best entry time again

Set Price Alert

About Binance Coin

BNB Price Pulse: What’s Moving It?

BNB, the native token of the Binance ecosystem, is currently priced at $1,108.17, reflecting a 2.01% decline in the last 24 hours. With a massive market capitalization exceeding $154 billion, BNB remains one of the top cryptocurrencies by value. The recent downward price movement can be attributed to broader market volatility impacting cryptocurrencies as a whole, regulatory concerns in key markets, and profit-taking following its recent price rallies. Additionally, the overall sentiment in the crypto market is cautious due to macroeconomic factors including interest rate hikes and inflation data, which tends to influence investor appetite for risk assets like BNB.

BNB Price Catalysts: Bull Case & Bear Case

Bull Case: On the upside, BNB benefits from its integral role within the Binance ecosystem, powering Binance Smart Chain which supports decentralized applications (dApps) and decentralized finance (DeFi) projects. Increasing adoption of Binance's services and the growth of DeFi on Binance Smart Chain can drive more utility and demand for BNB. Binance's frequent token burns reduce supply over time, potentially increasing scarcity and value. Moreover, positive regulatory developments or broader crypto market rallies could reignite strong upward momentum for BNB.

Bear Case: However, BNB faces challenges too. Regulatory scrutiny, especially given Binance's global operations, could impact investor confidence and use cases. Competition from other blockchains and tokens may reduce BNB’s dominance. Market-wide corrections or negative news around Binance (such as legal issues or exchange outages) could exacerbate price declines. Additionally, if broader economic conditions worsen or if there is a shift away from riskier assets, BNB may face selling pressure.

Frequently asked questions

Why is BNB going down right now?

BNB's recent decline is primarily due to broader cryptocurrency market volatility, regulatory uncertainties, and profit-taking after recent gains. Macroeconomic factors such as inflation and interest rates also affect investor sentiment, leading to reduced risk appetite toward digital assets like BNB.

What influences the price of BNB?

BNB's price is influenced by factors such as demand within the Binance ecosystem, adoption of Binance Smart Chain projects, token burns reducing supply, market sentiment, and broader economic conditions impacting cryptocurrency markets.

Is BNB a good investment right now?

Whether BNB is a good investment depends on individual risk tolerance and market conditions. Its strong market position and use cases are promising, but investors should be mindful of regulatory risks and market volatility.

How does Binance Smart Chain affect BNB’s value?

Binance Smart Chain increases BNB's utility as the token is used for transaction fees and as collateral within DeFi applications on the chain, which can boost demand and support its price.

What impact do token burns have on BNB’s price?

Token burns reduce the total supply of BNB, creating scarcity which can positively influence the price over time, assuming demand remains stable or grows.

How can regulatory news influence BNB’s price?

Regulatory developments can significantly impact investor confidence. Positive clarity can boost price by encouraging adoption, while negative regulations or legal challenges can lead to price declines due to uncertainty.

Popular Binance Coin Exchanges

View All

eToro is a multi asset social trading platform. Its standout feature is copy trading, letting you mimic successful investors. User-friendly and regulated, it’s great for both beginners and experienced traders.

Rating:

3.2

Reviews:

Neverless is a new crypto trading platform created by former Revolut executives. It’s fully regulated in Europe and aims to make crypto more accessible by offering commission-free trading, competitive pricing, and support for over 700 cryptocurrencies. Users can also earn high yields on their assets and quickly buy crypto using Apple Pay or Google Pay.

Bitget, founded in 2018 during a crypto downturn, is a global exchange focused on user-centric innovation. With roots in traditional finance, its team saw blockchain’s potential early on. Today, Bitget aims to make crypto trading more accessible while promoting long-term industry growth.

Cryptomus offers a secure, user-friendly platform for buying, selling, and managing crypto, with P2P trading, staking (up to 20% APR), and mobile access for seamless transactions.

Rating:

4.9

Reviews:

Bitpanda is a European neobroker on a mission to democratize the complex world of investing. With low fees, 24/7 trading and real-time settlement, Bitpanda empowers users to shape their financial futures - on their own terms.

Rating:

2.9

Reviews:

Binance is the world’s leading blockchain ecosystem, with a product suite that includes the largest digital asset exchange. Their mission is to be the infrastructure provider for crypto in tomorrow’s world.

Rating:

3.4

Reviews:

Coinbase is a digital asset broker headquartered in San Francisco, offering exchanges of Bitcoin, Ethereum, and other crypto assets in 32 countries, and bitcoin transactions and storage in 190 countries worldwide.

Rating:

3.5

Reviews:

Kraken.com is one of the world’s largest and longest-standing cryptocurrency broker trading platforms. Founded in 2011 and headquartered in the U.S., it provides users with access to a wide range of digital assets such as Bitcoin, Ethereum, and many altcoins.

Rating:

3.9

Reviews:

KuCoin is one of the world's top ten largest cryptocurrency exchanges, allowing you to buy, sell, and trade 700+ crypto assets.

Paybis enables you to buy bitcoin with Skrill, credit and debit cards instantly. They offer 24/7 customer service, serving millions of customers in 48 U.S. states and 180+ countries worldwide.