Last updated: October 2026
BNB, originally “Binance Coin,” is the native token of BNB Chain and the utility token of the Binance exchange. It launched in July 2017 as an ERC-20 token that gave traders a discount on Binance fees. It now pays gas on BNB Smart Chain (BSC), where blocks have arrived roughly every 0.45 seconds since the January 2026 Fermi upgrade. It is also burned every quarter on the way to a 100 million supply target. After the 37th quarterly burn on October 19, 2026, total supply stood at roughly 131.5 million BNB. BNB set an all-time high near $1,370 on October 13, 2025, days before US President Trump pardoned Binance founder Changpeng Zhao (CZ).
- Two roles: gas and staking on BNB Chain, plus fee discounts and token-launch access on Binance.
- Deflationary by design: quarterly Auto-Burn plus a real-time burn of part of each block’s gas fees.
- Validators: up to 45 active (21 “Cabinets” and 24 “Candidates”). That is more than BSC’s original 21, but still a small set.
- Key risk: BNB’s fortunes are closely tied to one company, Binance, and its regulatory standing.
History and Founders
2017: an ICO to fund an exchange
Changpeng Zhao founded Binance in 2017, and its token sale ran in July of that year. Of 200 million BNB created, 100 million were sold to the public for about $15 million, 80 million went to the founding team and 20 million to angel investors. Binance opened weeks later and became the world’s largest exchange by volume within months. Paying fees in BNB was discounted, which created steady demand for the token.
2019–2022: from token to blockchain
- April 2019: BNB moved from Ethereum to Binance Chain (later the BNB Beacon Chain), a fast chain built for trading.
- September 2020: Binance Smart Chain launched as an Ethereum-compatible chain with cheap fees. During the 2021 DeFi boom, apps like PancakeSwap and Venus drew millions of users.
- February 2022: rebranded to BNB Chain, with “BNB” redefined as “Build and Build.”
- October 2022: an attacker exploited the BSC Token Hub bridge and minted about 2 million BNB. Validators halted the chain to contain the damage, which drew criticism about how centralized BSC really was.
2023–2025: legal reckoning and a pardon
In November 2023 Binance agreed to a roughly $4.3 billion settlement with US authorities over anti-money-laundering and sanctions violations. CZ pleaded guilty to a Bank Secrecy Act charge and stepped down as CEO, and Richard Teng succeeded him. CZ served a four-month sentence in 2024. On October 23, 2025, President Trump granted him a full pardon. BNB had already hit a record near $1,370 on October 13, 2025, partly on speculation about the pardon and improving US relations. BNB Chain retired its Beacon Chain in 2024 and has since focused on BSC, the opBNB Layer 2 and the Greenfield storage network.
2025–2026: speed upgrades
A run of hard forks cut BSC block times: Lorentz (2025) to about 1.5 seconds, Maxwell (mid-2025) to 0.75 seconds, and Fermi (January 14, 2026) to 0.45 seconds, with finality around one second. Because the quarterly burn formula counts blocks, its parameters were adjusted to keep burns on track.
How BNB Works
BSC uses Proof of Staked Authority (PoSA). Validators stake BNB, and delegators add stake to the validators they choose. The top 21 by stake are “Cabinets,” and the next 24 are “Candidates.” Each epoch, 18 Cabinets and 3 Candidates are randomly picked to produce blocks. This keeps blocks fast and cheap while rotating some outside validators in. It is still far more concentrated than Ethereum, and several validators have close ties to Binance. BSC is EVM-compatible, so MetaMask and Solidity contracts work unchanged.
BNB is one of several platform-issued coins; our exchange tokens explainer compares OKB, BGB, LEO, GT and KCS and offers a framework for judging issuer risk.
Tokenomics
| Item | Detail |
|---|---|
| Initial supply | 200 million BNB (2017) |
| Target supply | 100 million BNB, reached through burns |
| Total supply after 37th burn (Oct 19, 2026) | About 131.5 million BNB |
| Quarterly Auto-Burn | Amount set by a formula based on BNB’s price and the number of blocks produced; recent burns removed about 1.6 million BNB each |
| Real-time burn (BEP-95) | A fixed share of gas fees in every block is destroyed |
There is no ongoing inflation for staking rewards. Validators and delegators are paid from transaction fees. Read our token burn guide for why burns matter, and when they don’t.
Use Cases
- Gas on BNB Chain: every BSC and opBNB transaction is paid in BNB.
- DeFi: PancakeSwap, Venus, Lista and hundreds of other apps.
- Exchange perks: a 25% spot fee discount when paying in BNB, plus access to Launchpool and HODLer airdrops for BNB holders.
- Payments: Binance Pay and crypto cards.
- Staking: delegate to a validator to earn a share of fees.
The Wider BNB Chain Ecosystem
“BNB Chain” now refers to a family of networks that all use BNB:
For the token of the main PancakeSwap exchange on BNB Chain, our guide on buying CAKE on exchanges or BNB Chain explains both routes.
To bring funds over from Ethereum and explore this ecosystem, read our walkthrough on how to bridge ETH to BNB Chain.
- BNB Smart Chain (BSC): the main EVM chain where most DeFi, memecoin trading and stablecoin transfers happen. Its 0.45-second blocks since Fermi make it one of the fastest EVM chains in production.
- opBNB: an optimistic-rollup Layer 2, launched in 2023, built for very cheap, high-frequency activity such as games, settling back to BSC.
- BNB Greenfield: a decentralized storage network, also launched in 2023, where data permissions can be controlled by BSC smart contracts.
- Beacon Chain (retired): the original trading-focused Binance Chain. It was shut down in 2024 through the “BC Fusion” process, which moved its staking and assets onto BSC. If you still hold old BEP-2 BNB, check official guidance on recovery options.
For holders, the important point is that BNB demand comes from several directions: gas on each network, staking, and exchange perks. That diversification is real, but nearly all of it still traces back to the Binance brand.
How to Stake BNB
You can delegate BNB natively through BNB Chain’s staking dashboard from a self-custody wallet. Unbonding takes 7 days, and a validator’s misbehavior can be slashed, which also affects its delegators. Alternatively, you can use Binance’s own earn products or liquid-staking apps. Rewards come from fees, so they vary with network activity. Check the current rate before you commit.
For a step-by-step comparison of native staking, Binance and liquid BNB, see our dedicated guide on staking BNB natively, on Binance or via liquid tokens.
Pros and Cons
Pros
- Deep liquidity and broad support across exchanges and wallets.
- Steady, transparent burns shrinking supply toward 100 million.
- Very low fees and sub-second blocks since 2026.
- Large, established DeFi and retail user base.
Cons
- A small validator set and close ties to Binance, as shown during the 2022 bridge halt.
- Regulatory risk is concentrated in a single company.
- Much of the demand depends on Binance perks that Binance can change.
- A high valuation already prices in a lot of success.
BNB Price Outlook: Scenarios, Not Predictions
On 26 October 2026 BNB changed hands at about $736.93 (market cap about $96.9 billion). The full scenario analysis, covering what would have to happen for each range and which metrics to watch, now lives in our BNB price prediction.
How to Buy BNB
BNB trades on Binance (or Binance.US for US residents) and many other large exchanges. Listings vary by country, so confirm availability where you live. Withdraw on the BNB Smart Chain (BEP-20) network to a wallet like MetaMask or Trust Wallet. Our step-by-step how to buy BNB guide covers fees and network selection, and our Binance review weighs the exchange itself. Compare BNB with other large caps in the crypto coin directory.
FAQ
Is BNB the same as Binance Coin?
Yes. BNB launched in 2017 as “Binance Coin.” In February 2022 the ecosystem was renamed BNB Chain and the letters were redefined as “Build and Build.” It is the same token. It moved from Ethereum to Binance’s own chains in 2019 and 2020, and today it lives mainly on BNB Smart Chain.
Did BNB reach $1,000?
Yes. BNB first crossed $1,000 in September 2025 and set an all-time high of roughly $1,370 on October 13, 2025, according to market data reported at the time. Past highs say nothing certain about future prices. Check a live price source before acting.
How much BNB is left after burns?
After the 37th quarterly Auto-Burn on October 19, 2026, which removed about 1.65 million BNB, total supply was reported at roughly 131.5 million. Burns will continue until supply reaches 100 million. Verify the latest figure on BscScan or BNB Chain’s burn page.
Can I stake BNB?
Yes. Delegate BNB to a validator through BNB Chain’s native staking from a self-custody wallet. Rewards come from fees, and unbonding takes 7 days. Binance and liquid-staking apps offer alternatives with different risks. Yields vary, so compare current rates rather than advertised maximums.
Crypto is volatile and risky; this is education, not financial advice. Do your own research.
