Bright Ideas: Binance Coin (BNB)

Binance Coin is the native currency of the Binance blockchain and the Binance Exchange.

Price:

$242.16

Mkt Cap:

$39,671,943,808

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Binance is the largest cryptocurrency exchange in the world by trading volume.
Since its launch in 2017, Binance has released a whole ecosystem of blockchain-powered services and networks such as the Binance Smart Chain, Binance chain, Binance Academy, Trust Wallet, and other research projects.
BNB token was created as a utility token for discounted trading fees, but since then has gained much more use across numerous platforms.

Exchange Coins in recent years have become a remarkably powerful tool to provide monetary incentives and rewards to users while building a strong community.
Binance has partnered with UpLive, Asia’s premier high-end live video streaming platform that sells virtual gifts for BNB tokens to UpLive’s 20 million user base.
Binance coin is also supported by the pioneering payments and cryptocurrency platform, the mobile app, and the VISA debit card of Monaco.

Moving forward Binance services to be the infrastructure services provider for the entire blockchain ecosystem.
Binacne recently announced the conversion of all USDC tokens to BUSD as the exchange continues to work towards market dominance.
Binance has plans to build a crypto-friendly digital city similar to the virtual free zone in Dubai, in Nigeria.
Via Twitter, 13th September, @binance announced that its BUSD Stablecoin has reached a market cap of $20 Billion.
In September 2022, Binance announced that USDC would no longer remain on their platform and would be automatically transferred to BUSD.
On the 27th of September 2022, Binance announced they would introduced a burn mechanism for the LUNC token.
In October 2022, Binance experienced a hack in which $500 million of BNB was printed. This significant event did little to move the price of BNB lending to is popularity and resilience as an asset.
In November 2022, The FTX Bankruptcy has increased the importance of strong risk management frameworks at centralised exchanges for which Binance is held amongst the best.
In December 2022, Binance showed strong resilience against a bank run on the exchange with multiple billions of dollars being withdrawn in a short amount of time.

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