Binance Coin Research Hub | BNB information, history and analysis
BNB is Binance Coin, a cryptocurrency issued and traded by the Binance exchange.
BNB launched through an initial coin offering in 2017, 11 days before the cryptocurrency exchange Binance. Initially, BNB was issued as an ERC-20 token running on the Ethereum network, with a maximum total supply of 200 million coins and 100 million BNB offered during the ICO. However, the ERC-20 BNB coin was swapped for 1:1 BEP2 BNB in April 2019 with the official Binance Chain network launch and is no longer hosted on Ethereum.
BNB can be used as a payment method, a utility token to pay fees on the Binance exchange, and to participate in the token sale on the Binance Launchpad. BNB also powers Binance DEX (a decentralized exchange).
In 2024, crypto donations exceeded $1 billion, with projections of reaching $2.5 billion in 2025 due to rising crypto wealth. Changpeng Zhao’s significant donation of 1,000 BNB emphasizes the growing reliance on cryptocurrencies in providing emergency aid, particularly following the earthquake in Southeast Asia.
The recent 7.7 magnitude earthquake has led to severe impact, with thousands affected. Cryptocurrencies are quickly becoming a critical resource for emergency aid, as they allow bypassing traditional banking delays, ensuring that donations can be delivered rapidly to those in need.
MYX Finance, a decentralized trading platform, has surpassed 37.15 million USD in TVL on the BNB Chain within just a week, reflecting user trust and adoption.
The platform offers low fees and gasless transactions and plans to introduce perpetual trading for Binance Smart Chain assets, boosting liquidity and price discovery.
VanEck has filed for the first Binance Coin (BNB) ETF in the U.S., registering a trust entity in Delaware. This positions BNB alongside other cryptocurrencies previously filed for ETFs, reinforcing VanEck’s reputation in the crypto ETF market.
If the VanEck BNB ETF is approved, it will directly track the price of BNB, which is currently the fifth-largest cryptocurrency by market cap, enhancing investor options in regulated crypto investments.
Binance dominates the cryptocurrency exchange market, showcasing a spot trading volume significantly higher than all others combined, which surpasses Coinbase by 8 times.
Currently, investors hold a bearish sentiment on BNB due to a significant sell-off, indicating a lack of confidence in a price rebound despite Binance’s market strength.
If historical trends are indicators, Binance’s increased dominance may suggest a bullish turnaround for BNB, potentially rallying to $618.
The Nigerian government accused Binance of enabling terrorism and kidnapping financing through illegal transactions. Information Minister Alhaji Mohammed Idris stated that this action came after the Nigerian government found no option but to act against the exchange.
The government has filed an $81 billion lawsuit against Binance for money laundering and tax evasion. Additionally, Tigran Gambaryan, the head of security at Binance, was detained on bribery accusations but released due to health concerns.
Meanwhile, over 5,000 U.S. Banks have been permitted to operate in the crypto market following new FDIC regulations that streamline oversight and encourage digital asset integration.
Recently, BNB reclaimed its position as the fifth largest cryptocurrency, with a market cap of 91 billion USD, while SOL stood at 73 billion USD. This transition is largely driven by shifting memecoin interest towards BNB Chain.
Solana has seen a drastic decline of 95% in its DEX volumes, dropping from 30 billion USD to just 1.4 billion USD. Conversely, BNB Chain’s DEX volumes have shown a slight increase, reflecting growing trading activity.
Despite these shifts, Solana retains more daily active addresses at approximately 4 million. However, the SOL/BNB ratio has dropped over 50%, indicating higher losses for SOL holders compared to BNB investors. There is potential for Solana to recover in the future.
Since March 24, 2025, the crypto economy has contracted by 150 billion USD, indicating severe market stress impacting all sectors.
Crypto stocks have reported double-digit declines, with Coinbase falling 11.93% and major mining firms like Marathon Digital reflecting losses of over 14%.
Ethereum and Solana led the declines, with capitalizations down 44% and 43% respectively, while Bitcoin and Binance Coin showed some resilience with declines of 18% and 15%.
Changpeng Zhao, co-founder of Binance, pledged 500 BNB for disaster relief in Thailand and Myanmar after a 7.7 magnitude earthquake struck on March 28, causing significant damage.
The earthquake resulted in at least 144 confirmed deaths and approximately 732 injuries. There are ongoing rescue efforts to assist those affected.
Zhao aims to distribute funds through Binance, emphasizing the efficiency of crypto donations for disaster relief efforts in times of crisis.
Nigeria’s Minister of Information, Alhaji Mohammed Idris, has stated that Binance is involved in aiding criminals and terrorists in money laundering. This allegation adds pressure to Binance, already facing legal troubles in Nigeria.
Binance is charged with money laundering and tax evasion, alongside a staggering $81 billion claim against it by Nigeria. The situation reflects ongoing legal issues the exchange has faced, further complicated by delays in court proceedings.
On March 27, 2025, Changpeng Zhao announced the launch of ‘Pay to Reach’, aimed at managing high message volumes. Users can send direct messages to him for a fee of 0.2 BNB, enhancing BNB’s utility and establishing a monetization model within the crypto community.
While the feature offers a new way to engage, it raises concerns regarding the commercialization of previously free communication channels. CZ’s initiative has drawn criticism and sparked discussions on the balance between accessibility and managing communication within the crypto ecosystem.