Binance issued its own token called the Binance Coin, with BNB as the symbol. BNB started on the Ethereum blockchain and followed the ERC20 token standard. The token was established with a total supply of 200 million. As per the whitepaper, Binance plans to use 20% of the profits each Quarter to buyback and burn BNB, until 50% of the total BNB supply (100 million) is burned. On April 23rd, 2019, Binance launched their mainnet. BNB will be the native coin on the Binance Blockchain. The BNB token itself has multiple forms of utility, essentially being the underlying gas that powers the Binance Ecosystem. The current most prominent use cases include using BNB to: Pay for trading fees on the exchange, obtaining the equivalent of a 50% discount on trades (during the first year). Monaco has included support for Binance’s BNB token to its platform which includes the Monaco Visa Card and mobile app.
Friday Shows Bloodbath for Crypto Markets, Bitcoin Price At $7,300
Finland Prepares For Bitcoin Ransomware Attack With Cyber Fire Drill
Global Debt Reaches New Highs — Is BTC a Solution or a Beneficiary?
After Testing $7K — Is Bitcoin Price Finally Close to the Bottom?
Price Analysis 22/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX
Grayscale to Launch Diversified Crypto Fund for Public Trading in Apparent 1st in US
US Deputy Treasury Secretary: Crypto Raises Questions on Self-Government
Tunisia Denies CBDC Reports: Here Is How the False News Spread
Alibaba Filmmaking Arm to Distribute New Movie Rights via Tokens: Report
Human Rights Foundation: Stablecoin Privacy Is 'Extremely Lackluster'
Bitcoin Drops to $7,000 as China Vows to 'Dispose of' Local Exchanges
Canada: Thieves Steal $4K From Bitcoin ATM, Leave $50K Untouched
'OK Doomer' — Peter Schiff Is Convinced Bitcoin Will Now Crash to $1K
Coinbase Custody Extends Crypto Staking to Global Investors
China: Shenzhen Identifies 39 Crypto Exchanges Defying Trading Ban
ICE Officially Confirms Dec. 9 Launch of Cash-Settled Bitcoin Futures
Few Big Exchanges Continue to Report Fake Volumes in 2019: Chainalysis
Backfire in Argentina: Citizens Want BTC Over Peso Amid USD Crackdown