Binance Coin PRICE BNB
Binance Coin (BNB) is an ERC-20 token on the Ethereum blockchain issued by the world’s largest cryptocurrency exchange, Binance. By using BNB on the exchange, users are granted reduced fees as well as oher rewards so it functions in a similar way to a reward program. Binance has repurchased and burned about $9.4 million worth of BNB coins. the exchange aims to destroy the initial 100 million ICO tokens using 20% of quarterly profits four times a year. The coin is also used to fuel ICOs on Binance Launchpad.
Since its inception, its price has been steadily rising, up 60% in the last 30 days alone. A large contributor to this was the aforementioned token burn which acts as a catalyst for a price surge.