Cryptocurrency Q&A
Why is BNB coin so expensive?
Why is BNB coin so expensive?
HanjiHandiwork
Sat Aug 03 2024
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7 answers
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I've been noticing the skyrocketing prices of the BNB coin and I'm genuinely curious, why is BNB coin so expensive? Is it because of the growing popularity of Binance, the exchange platform that issues the coin? Or could it be due to the numerous use cases and benefits that BNB offers to its users? I'm eager to understand the driving factors behind the coin's value and how it's able to maintain such a high market capitalization. Could you please provide me with some insights on this topic?
7 answers
StormGalaxy
Mon Aug 05 2024
However, its circulating supply is notably lower, standing at approximately 153 million.
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ShintoMystic
Mon Aug 05 2024
This discrepancy in supply is a result of Binance's strategic buy-back program for BNB.
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Martino
Mon Aug 05 2024
Through this initiative, Binance repurchases a portion of BNB tokens from the market, thereby reducing their availability.
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CryptoChieftain
Mon Aug 05 2024
BNB, the native altcoin of Binance, boasts a maximum supply of 200 million units.
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Federico
Mon Aug 05 2024
The decreased supply, in turn, has fueled the strong price appreciation of BNB, attracting the attention of investors worldwide.
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