Binance Coin BNB Uses, Support, and Market Cap

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what is bnb

The final key to Binance’s success is the competitive trading fees it charges. It’s free to fund your account, and orders are charged a simple 0.1% trading fee. The trading fee means you’ll want to limit how frequently you make trades since you’ll lose 0.1% every time you transact. However, we’ll see in a minute that Binance makes it possible to reduce these transaction fees. If you consider how much Binance makes off its transactions, it’s clearly a profitable business model.

Despite these hacks, users return to Binance for its low fees and the abundance of 6 ways to get free bitcoin bitcoin guides lucrative meme coins in its ecosystem. Since 2013, Changpeng Zhao has been actively involved with blockchain technology and cryptocurrencies. He became head of development at Blockchain, and in 2015 he founded BijieTech. In 2017, Zhao officially launched Binance, and he has been the CEO of the company ever since. It currently trades around $4.60 which highlights the depreciation of the overall altcoin market.

what is bnb

Understanding Binance Coin (BNB)

This has largely kept the price up as traders hold BNB instead of dollars. BNB initially traded around $0.10 before rapidly shooting up to $2.80 in 2017. Until recently Binance held the number one spot by volume for cryptocurrency exchanges worldwide.

To counter this undesirable event, Binance adopted the concept of coin burning within their whitepaper, committing to reduce the total BNB supply by 50% or 100 million tokens. The token was launched in July 2017 to be used as a tool for crowdfunding in the Binance ICO. As a utility token, it would enable its holders to claim trading fee reductions on the exchange once the platform launched. Binance raised about $15 million from the ICO, and over 100 million tokens of BNB were distributed to the public. Despite its humble background, BNB has grown to become more useful within the Binance ecosystem. Fortunately, Binance has a good business model which incentivizes traders to continue using BNB to pay for their trading fees.

What Is Binance Coin (BNB)?

According to the Binance whitepaper, exactly half of the maximum supply of BNB coins was allocated towards the initial coin offering (ICO) and public sale of the coin. The ICO was held in July 2017 shortly after the exchange launched, and saw Binance raise $15 million in funding, with BNB price at $0.10 during the ICO. Taking BNB price today, that represents an almost 4200X return on investment (ROI). Another 40% of the total supply, or around 80,000,000 BNB coins, was distributed among the founding members and team.

  1. We discuss its history, benefits, uses, how to buy and how to store the coin.
  2. BNB is now ranked among the five most valuable digital assets with a market cap of over $55B.
  3. As of May 2024, the Binance Smart Chain processed as many as 3.5 million daily transactions, more than double Ethereum’s all-time high.
  4. We are not discouraging or generalizing when we say unofficial sources of BNB are bad places to get the tokens, but we encourage you to research before choosing which platform to use.
  5. Ethereum did a similar thing during their 2014 token sale, but the difference is that with Ethereum, more coins are still getting mined (introduced into circulation) even after the token sale.
  6. The altcoin advantage is a virtuous cycle for Binance, and new coins often choose to list with Binance over competing exchanges.

Binance Coin (BNB) Uses, Support, and Market Cap

According to the company website, its mission is to become the infrastructure services provider for the entire blockchain ecosystem. Binance also charges withdrawal fees for moving assets out of your account into private wallets. The withdrawal fees vary by the coin, but they are flat fees, not percentage-based.

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Binance has high liquidity in many different assets, not just Bitcoin and other top coins. Bitcoin is by far the most-traded asset on Binance but altcoins also feature decent volume. The altcoin advantage is a virtuous cycle for Binance, and new coins often choose to list with Binance over competing exchanges.

Following the success of the trading platform, Binance opted to launch a new blockchain similar to Bitcoin or Ethereum dubbed the Binance Chain. Now that Binance had a blockchain how to build a gpu mining rig to mine bitcoin monero ether zcash and other cryptocurrenices of its own, it was only natural that it would issue new BNB tokens on the Binance Chain to replace those that were available on the Ethereum blockchain. As the dedicated utility token of the Binance exchange, the most straightforward way to acquire BNB coins would be to purchase them through Binance.

Binance Coin has more utility within the Binance ecosystem than it does sitting in a wallet. If you are an active trader or investor using the Binance exchange, you want to keep your BNB on the platform. BNB may have been created as an incentive for the token sale, but since its launch in mid-2017, the token has evolved and grown to take up more roles. It has many more uses than just offering discount benefits to its holders. Even though the plan was to scrape off the discount rate after the fourth year, it seems the exchange has decided to keep it. Currently, all transaction fees paid using BNB on both the Spot and Margin markets are subject to a 25% discount, while those made in the futures market get a 10% discount.

As one of the world’s most popular utility tokens, BNB is useful to users in a wide range of applications and use cases. Binance coin (BNB) is the exchange token of the Binance crypto exchange. That means demand for the token is linked to demand for the exchange’s services. BNB was created in 2017 as a utility token for discounted trading fees. Since then, its uses have expanded to numerous applications on a wide range of platforms.

What Is BNB?

The crypto exchange has in mind to destroy up to 100 million BNB tokens through its quarterly burns, accounting for 50% of its circulating supply. BNB was originally issued as an ERC-20 token, running on the Ethereum network, with a total supply of 200 million coins. 100 million BNB was offered in the ICO, but the current total supply is lower due to periodic burning events and a real-time burning mechanism. If you want to know more about coin burns, and why BNBs are being permanently destroyed, check out What Is a Coin Burn?. According to the whitepaper, the exchange how and where to buy and sell cryptocurrencies like bitcoin would use 20% of quarterly profits to buy back outstanding tokens and burn them. So far, the exchange has undertaken 16 coin burns resulting in the removal of 31,862,964 BNB tokens from circulation.

This order matching creates a bottleneck for many cryptocurrency exchanges. If you have more trade requests than your matching software can handle, orders will be delayed. With the popularity of Bitcoin and altcoins right now, users are submitting millions of trade requests per minute on the most popular exchanges. Delayed trades might be the difference between capitalizing on an investment opportunity and missing it. When trading cryptocurrencies on the Binance Exchange, each trade will incur a standard fee of 0.1% (trading fees are determined by your monthly trading volume and BNB holdings). You can either pay the trading fees using the assets you are trading, or you can pay for them with BNB.

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(MORE) A TRIGGER MOMENT (2)

But, believe it or not, George Floyd’ money exchange scenario (especially, as I wrote it in the play) flashed before me – as he presented the cashier in his case a large bill, which in his case, was just a twenty dollar bill. Any way I gave her the C-note, held my breath and just hoped for the best. Now, I considered that I was surely over reacting. Because, I had just got this package of c-notes right from the bank. But continuing, the cashier accepted my c-note, frowning as she looked closely at it.

She thereupon held it closer to her eyes, frowning more. Then she would hold it overhead, towards the overhead light, (and squinting her) eyes. Next, she held it up and out towards the sun rays, coming through the large nearby windows

Oh my goodness, I thought,” let me tell this lady that I have the $41.00 in smaller bills, for her.”. But before I could get it out my mouth, she pivoted and left her drawer and station and walks three, (that’s right, three) whole aisle’s over.

“don’t tell me” I’m thinking, “she’s going after the dollar proofer contraption! And my goodness”, I reflected. “This is most unsettling. This is the very picture of what I imagined and actually wrote in my Saint George Floyd play.”

And she did exactly that! She ran it through, once while frowning, and then again, still frowning and nodding her head (negative) But, now, my girl, returns, and still with no words she deposits the funds beneath her drawer.

(Continued)
(MORE) A TRIGGER MOMENT (3)

Now, I knew my C-note was good, as I got it from the bank, but that didn’t ease this dreaded moment. Cause, who’s to say George Floyd’s paper wasn’t legit! And, now I know this story is getting long, and is already probably uncomfortable, but, I need you to feel my pain and dread, as I felt it. Or at least understand my feelings. And maybe, if possible, feel that I had a right to them.

But, back to the cashier, whom returns, without apology, counts out and hands me my change, with the receipt, smiles and turns for the next customer in line. I truly felt abused and was still concerned, and felt very much unsafe; not knowing if they (the machine) determined that the bill was a possible fake, and perhaps the police would appear to take me down at the door, or what?

And I thought upon my last trip to thos store, and the very same lady waited on me, and that evening, her not finding the sales ticket visible, she quickly threw my item under the counter, saying, that it wasn’t priced, so she couldn’t sell it. But I advised her it was marked inside, which she found to be true.

But, getting back to today, I did, make it out the door, without being intercepted by law enforcement, But, I said, let me make it to the car before I break down in relief.

But, making it to the car, I wanted to make a cell phone call, but, I thought better, let’s me move out before a swat team corner me in, with overhead helicopters.

So, I left thankful for my freedom and life, until the next shopping engagement. I noticed that my head, neck and shirt was filled with perspiration.

(Continued)
(MORE) A TRIGGER MOMENT (4)

Now, you may wonder, was this a Macy or Bloomingdale. High end shop, I was shopping and followed around to protect the precious merchandise. No, ha, ha, This was a Salvation Army store. You know, like a goodwill, thrift shop. But, With Blacks, as prey, it’s not what they’re protecting, it’s who you are.

“don’t tell me” I’m thinking, “she’s going after the dollar proofer contraption! Oh my goodness”, I reflected. “This is most unsettling. This is the very picture of what I imagined and actually wrote in my Saint Georfe Floyd play!” Now, panicking, I thought again to holler, to get her attention, that I had some smaller bills, that she could try.

And I submit that this is an important work, one of the most significant of this millennium. As this work is significant on several fronts: spiritually, it opens up Scriptures and God’s Voice that is a Godsend, and oh, so, precious but rare. It also offers a comforting understanding of the continuity of Life beyond the Earth plane. It as well, and in the natural, highlights the burden Black households have to give the Race talk to their young charges.

And, in concluding, the cause and purpose of the writer initiating this piece, which was as a mission, is that Saint George Floyd’s sacrifice and it’s aftermath of goodwill not diminish nor be forgotten, but is ever before men.

Yet the chief catalyst of the story is by the writer is to keep “George Floyd’s story center front, that men can continue to face one another as Brothers and One in fairness, justice and equity.
(Please Continue Below to The Celebrity Blog )
(More) A letter from a Blackman…

George Floyd still could have been any of us. 

Since then I’ve asked myself so many questions. How come the police hate us? Will I ever get to live a life free of fear, free of pain, and anger? But the question that scares me the most is, do I need to see a therapist? The answer to the last question is, probably. 

When soldiers go to war, some come back broken because of the devastation, destruction, and trauma they had to endure. It’s called PTSD, or post-traumatic stress disorder and it’s a serious condition. 

If you can have sympathy for a soldier’s pain, how come you have little for Black pain. Our trauma is just as real as anyone else’s and we never signed up for it. 

In 2007, Robert. T. Carter theorized that individuals of color who experience racially charged discrimination as traumatic and often generate responses similar to post-traumatic stress. This was known as Race-based traumatic stress. It’s defined as the traumatic response to stress following a racial encounter. 

Racial trauma can be experienced by an individual or by an entire community and can also come with a host of symptoms such as anxiety and depression, loss of appetite, nightmares, low self-esteem, etc. 

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BUT HOW IS GEORGE FLOYD A SAINT? (4 parts)

Part 1 – Speaking of Miracles 

“But, how is George Floyd a Saint?” Yes, this question was raised as soon as I brought the name and idea of the play up, and it still reverberates “But how is George Floyd a saint?” 

So, let’s look at this in today’s light. Today, Saints must have performed at least two verified miracles. Ok, so let’s consider George Floyd. Now, according to the Washington Post, in the less than two years of George Floyds passing – on the law perspective – over 150 pieces of legislation and laws have been passed (in America) corralling in police powers and potential abuse. (Miracle #1). 

And on the economic and equity side, American corporations have pledged over 50 billion dollars towards Black causes, justice and equity (miracle #2). And shortly after the video of George Floyd’s state sanctioned execution went world viral, major, street closing, demonstrations (of majority White marchers) went on for weeks in over 150 countries around the world (miracle #3). 

None of these three monumental accomplishments had ever been even partially met, before (in the four centuries of Black subjugation in America) nor was any even considered possible.  And I submit to all, each was nothing less than a miracle of God!

But, now, let’s detour, from Saint George Floyd and let’s consider our idea and imaginings of the Sacredness of the Saint’s ordinations process and our overall reverence and goodwill in the Sainthood process, the Holy See and council.

Part 2 – What’s Holy about the (Sainthood) Process?

But, what, if like me, you know or learn that many a pope and cardinals and their bastilles owned enslaved persons, and even participated in their sub-human treatment and also the trading of Black humans as chattel to raise money for the church growth, etc.. Just google ‘Popes and Cardinal’s that owned slaves / enslaved persons’. And you will be surprised, and hopefully hurt and dismayed. And, it’s not hidden knowledge. 

There’s a most recent story, from the New York Times, March 2022, noting how Georgetown University (a leading Catholic University) was admitting to commandeering enslaved persons for free labor to build much of its campus; a deed they now admit was wrong and immoral and are now pledging over 100 million dollars, to remedy, with more promised.  

Ok, so how does that believed sacredness of the Saint-hood look now? Oh, that’s the past, one can rationalize. Well, what about this; less than two years ago, the head of the Saint making department, in the Vatican, was charged with corruption and conspiracy in a most unholy scandal. See below from a recent NY Times article.

“Cardinal Giovanni Angelo Becciu, accused of embezzlement, abuse of office, witness tampering, is on trial with nine other defendants in a corruption trial that centers on a London realestate deal in which the Vatican lost millions, charges the defendants deny. Pope Francis demanded the cardinal’s resignation,as head of the department in charge of making saints, in September 2020”

New York Times 5/5/2022

Seems to me, doubters, should first turn their attention to reform, this historic and present evil cabal, which grossly dishonor the Sainthood and the truth of God’s nature. 

Part 3 – The Evils that came before

Ok, let’s take a further look back, on the character and moral fortitude of the early church leaders.  In another find, biblical scholars and ancient manuscript researchers have recently shared a most disturbing (to most true Christians and right minded persons) a papal executive pronouncement issued by Pope Nicholas V, in the mid 1400’s. It’s referred to as the ‘Doctrine of Discovery 1452, and it’s included below.

Now, this (Doctrine of Discovery 1452) was issued, less than 50 years before Columbus invaded the islands around the Americas (in 1492).

In this light, we can better understand the atrocities scholars have attributed to his mad band of merry men, against the hapless, peaceful, inhabitants of the lands they would happen upon. For, by the highest order, the pope, whom, in earlier days was accepted as part King and part God Messenger, this exposition orders were not a betterment of mankind or a ‘we come in peace, mission’ but to conquer and annihilate: “to invade, search out, capture, vanquish”, etc. 

And understand these (designated enemies) were faultless and were inhabitants of far-away distant lands, which they were not at war with or had no knowledge of. And here, by this executive order they are commanded to reduce the inhabitants (of their own land) to “perpetual slavery, and to seize everything movable and immovable”. 

Wow, does this sound like a Holy or Christ driven mission or priesthood? Then what of its ‘saints’? Well, the Scriptures answers that “if the root of the tree is rotted, the entire tree is” 

Part 4 – Is a Saint for Black Justice not needed?

It’s probably little known, but Saints aren’t generally bestowed upon the overall church – but bestowed upon a cause, which is observed and needing certain help or hope. 

And now see, as there are hundreds of Saint’s, for just about any cause or group. ‘Saints for orphans’ ‘Saints for women’s Freedom’ ‘Saints of the down trodden’ ‘Saints for healing’, etc. So, see since Saints have specific duties and assigned groups and being that George Floyd, has brought such a massive influx of laws for equal justice and a great transition for economic parity for the Black race, except for bias, or unawareness, how isn’t he a Saint for Black justice, liberty and equity?

So, to the question, “how is George Floyd a saint? I ask you, even as I ask all, except perhaps in the mind of the bias, the ignorant or unaware, “how is George Floyd not a Saint?”

Here are just a few national articles (on the phenomenal Justice and economic Initiatives and impact) towards the Black race in America post George Floyd:

Mckinsey report / Mckinsey.com

‘The Opportunity to Advance Racial Equity’

NBC News / nbcnews.com 

‘Monumental impact of George Floyd’s death on Black America’

Washington Post / washingtonpost.com

‘Corporate America’s 50 billion promise’

Time Magazine / time.com

America since promises of the George Floyd protests

MORE ON – SUMMARY

Praise the Lord and pass the Blessings. This play ‘SAINT GEORGE FLOYD’ besides a vehicle of great entertainment, featuring: song, dance, art, video highlights and poems is foremost a celebration of George Floyd’s Life and Legacy, but it’s also an entity of renowned spiritual sharing. And it offers, that George Floyd did indeed “touched the world”, even as he promised – as humanity worldwide joined for the cause of ‘life, liberty and justice’ for all. 

The Mission and Purpose is Great!

And it’s about our survival (nothing less)

as Free Persons with equal Citizen Rights 

And, this is the writer’s mission, that Saint George Floyd’s sacrifice (and it’s aftermath of goodwill) not diminish nor is forgotten – but is ever before men and is multiplied -and that all men join together, in brotherhood. 

The Principle Story

Our story essentially is the chronicles of one day – (George Floyd’s last earth day – and his heavenly sojourn. Now, the (principle) story, in the story takes place on the second anniversary of George Floyd’s demise. 

Surely, it’s a story that’s not singular in nature; as it’s of a dutiful Black Father (of two young off-springs) just after the youths viewed a news replay of the (two years old) tragedy. Now, this Dad, as his peers, is compelled to deliver the Race / and George Floyd talk. (Thus, begins the ‘Saint George Floyd’ story).

God was in the Plan

Yet, this is a tale of grace and fantasy, not fatalism. It’s a comforting tale of hope and God’s gracious love. And we find that God Almighty was in the plan all along. As a Scripture reads “Man meant it for evil, but God meant it for good” And, the greater of this works takes place beyond the Veil – in the heavenly realm, even where he’s anointed ‘Saint George Floyd’. 

And in this heavenly aisle, Saint George Floyd, meets three of his most desired figures – and new guides: first his Mom, secondly, Jesus the Christ, and the third, the celebrated, Doctor Martin Luther King Jr. And as these share (comfort inspiration and Truth) with our subject, we’re also beneficiaries.

A Prayer for the Race

And it’s our ardent prayer, that – this vehicle might be an influence to help keep these newfound doors of goodwill, recently, extended to the darker skinned, open. While we readily, acknowledge, this effort is just a part, and of no great effect without the work and prayers of you and the collective. Yes, everyone and every fiber of our being, must move towards FREEDOM AND JUSTICE NOW!

MORE ON - WARREN AVERY

Warren’s latest book, as are several of his, is a book on Spirituality. It’s named ‘The Dynamic Truth of Being’. And its small audience, unanimously, touts it as a spiritual masterpiece. And Warren gives all the glory and praise to the Most High. His other spiritual books are ‘Teach Us to Pray ’The Spirit’ ‘Working on the Christ’ ‘But I say Unto you. And he’s even working on one now entitled ‘The Spirit speak’

Mr. Avery has also served as an instructor of Creative Writing and concept development in several educational and creative capacities.

And now Mr. Avery brings all his creative gifts, spirituality and love to the Saint George Floyd play / project, where he insists this one is a duty, and that in this, he’s truly “On a Mission from God’. 

MORE ON – LEIA AVERY

Co–creator, LEIA AVERY, is seemingly a born creative and business minded young female millennium. We can probably say it’s in her genes. She has shared that at 8 or 9 years of age, she set up a replica of ‘Bozo’s grand prize (bucket) game’ and others in her backyard and charged her friends and neighbors (their allowance) to play the games – they in fun and in hopes of winning some prizes. 

Now, as head of Just Play Entertainment, Leia is still about creating fun moments and activities. As Just Play caters to all – any size party or group: adults, students, families and even corporations. And Just Play’s (true to life) motto is “Never Stop Having Fun!” So you can see, Leia is on a roll and Leia plays to win. 

Leia as well has been an owner of a few small businesses and also Real Estate parcels. 

And now she gladly shares her various expertise and creativity in the production and promotion of the Saint George Floyd Musical Play and SGFmovement.com.