BNB Stands at $234.03 with a Market Capitalization of $36.48 Billion as of July 10, 2023
Binance Coin (BNB), the native cryptocurrency of the Binance exchange, recorded a price of $234.03 as of July 10, 2023. Over the past 24 hours, the price of BNB has ranged from $232.20 to $236.28, reflecting a relatively stable price movement with a minor growth of 0.8%.
Binance Coin (BNB), the native cryptocurrency of the Binance exchange, recorded a price of $234.03 as of July 10, 2023. Over the past 24 hours, the price of BNB has ranged from $232.20 to $236.28, reflecting a relatively stable price movement with a minor growth of 0.8%.
The market capitalization of BNB, which is the total value of all circulating coins, stands at approximately $36.48 billion. This substantial market cap has earned BNB the #4 position in the global market cap rank, suggesting a significant presence in the cryptocurrency market.
The total supply of BNB is nearly 157.9 million, of which around 155.85 million coins are in circulation. This indicates that almost all the BNB coins that have been minted are being actively used in the market, which can be a sign of a healthy and active market.
The trading volume of BNB over the last 24 hours was approximately $324.38 million. Meanwhile, the ratio of the trading volume to the market cap, also known as the turnover ratio, is 0.0088. This low turnover ratio suggests that BNB experiences less daily trading activity relative to its market cap compared to more frequently traded cryptocurrencies.
BNB's market cap dominance is 3.002%. This means that BNB constitutes around 3% of the total market cap of all cryptocurrencies combined. This is a significant percentage given the vast number of different cryptocurrencies available in the market.
Looking to the future, if the market conditions remain stable, BNB is likely to maintain its current position in the market. Given its substantial market cap and its role as the native currency of the Binance exchange, one of the world's largest cryptocurrency exchanges, the demand for BNB is expected to remain strong. Moreover, with nearly all of the total supply of BNB coins in circulation, the supply-side dynamics are unlikely to exert downward pressure on the price in the near future. However, like all cryptocurrencies, BNB is subject to market volatility and changing market conditions, which could impact its future performance.
