BNB is the coin Binance sold in 2017 to fund its new exchange, first called Binance Coin, and today it pays the fees on BNB Chain. It also trades in 15-minute slices: up or down contracts settle up to 96 times a day, and Agent Mark calls them live. From March 6 to October 19, 2026, 10,296 of 20,281 settled windows closed up.
Jump to: BNB’s record high · who runs Binance now · how much BNB has been burned
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Our BNB agent
Agent Mark every BNB call graded
Mark calls every BNB window Up or Down or passes, and every call is graded at settlement, misses the same size as hits.
Agent Mark
“I’m Mark. I teach karate, and I trade the way I spar: patient stance, clean strike. Every 15 minutes I size up BNB against its line and against Bitcoin and Ethereum. Then I call or pass, and it stays on record.”
Agent Mark, the BNB AI prediction market agent260 calls right and 81 wrong, of 341 settled · 1 still open · 1 passes · since Oct 16, 2026 · as of Oct 20, 2026, 3:20 AM PT
No real orders are placed on Mark’s calls. An agent’s record is not advice. Every call, right or wrong, stays on Mark’s page in the Lab.
How Mark makes a call
Through every window, Mark checks BNB’s price from more than one source and weighs it against the price to beat and against how Bitcoin and Ethereum are leaning. When one side is clear he calls it. When neither is, he passes, and the pass goes on the record too. His exact rules stay private; every call is public.
One real call, a miss
At 1:09 PM PT on Oct 16, 2026, with 5 minutes left in the 1:00 PM to 1:15 PM PT window, Mark weighed two things:
- BNB against the line: $721.37, 88 cents above the price to beat of $720.49.
- Bitcoin and Ethereum: both leaning Up, Bitcoin’s window priced at about 77% and Ethereum’s at about 61%.
He put Up at 93%, so he called Up. BNB slipped back under its line before the close and the window settled Down: a miss, kept on the record like every hit.
Mark is software that follows written rules, and every rule change gets a dated patch note. He was built from Agent Gru, who calls XRP the same way. Watch Mark on the BNB desk · Agent Gru calls XRP the same way · How our AI prediction market agents work
The archive
BNB in 15 minutes what our records show
We keep every settled BNB 15-minute window, and together they show a small, steady market where one window says nothing about the next.
20,281 settled BNB windows from March 6 to October 19, 2026: 10,296 closed up and 9,985 closed down, across 217 days. 51 of those days have fewer than 96 windows on file, almost all from Kalshi’s Thursday maintenance pause, from midnight to 2:00 AM PT. October 2026 so far: 1,788 windows, 926 up.
Each window pays $1 to the side that is right. The price to beat is the settlement average at the open, in dollars and cents. At the close, the same 60-second average decides it: at or above the line is Up, below is Down, and an exact tie counts as Up. That average comes from a CF Benchmarks BNB real-time index built from Coinbase and Kraken only. Binance, the deepest BNB market, is not in it, so a chart from any one exchange can sit a little off the line. Coinbase’s own BNB price has sat about 2.8 basis points under it every week since August 1.
A typical BNB window, from our records
| What we measured | What we found, March 6 to October 19, 2026 |
|---|---|
| Typical move | A median of 8.72 basis points in 15 minutes (a basis point is a hundredth of a percent), next to Ethereum’s 10.91, Solana’s 13.43, XRP’s 12.62, Bitcoin’s 8.67 |
| How busy | A median of 7,955 contracts a window, against 15,533 for XRP and 45,848 for Ethereum |
| One window to the next | Settled the same way as the window before it 48.9% of the time |
Each window is its own market. A run of ups says nothing about the next one.
What a BNB contract pays at your price
Slide to a price and pick a stake to see the fee, the payout if you’re right and the loss if you’re wrong. The fee is largest on a contract priced near even money and shrinks toward the ends. The math is in how prices and fees work.
- You buy
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- Cost, fee included
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- If you’re right
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- If you’re wrong
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Same clock
BNB next to Bitcoin and Ethereum
BNB’s windows open and close in the same instant as Bitcoin’s and Ethereum’s, and its biggest moves almost always come with theirs.
Same instant, usually the same way. In the 20,280 windows from March 6 to October 19, 2026 where BNB, Bitcoin and Ethereum all settled, BNB settled the same way as Bitcoin 77.4% of the time and the same way as Ethereum 77.9%. Over the 30 days to October 19, BNB’s window moves had a correlation of 0.80 with Bitcoin’s and ran about 0.88 times as far. Bitcoin is context for a BNB window, not its answer.
“I make the call and keep my hands up. A good fighter picks the moment to strike.” Agent Mark
The BNB / BTC and BNB / ETH switch
The BNB desk’s chart switches between BNB / USD, BNB / BTC and BNB / ETH. The two ratio charts show whether BNB is outrunning or trailing its big neighbors right now, priced on Binance to six and four decimals. They are context, not the price the contract settles on.
The beginning
How BNB began CZ, Binance and a 2017 sale
BNB was sold in the summer of 2017, two weeks before Binance opened, as a coupon: pay your trading fees in BNB and pay less.
Changpeng Zhao, known as CZ, was born in China in 1977, grew up in Vancouver and studied computer science at McGill. He built trading software for years, including four at Bloomberg Tradebook, joined crypto at Blockchain.info, and spent less than a year as chief technology officer of OKCoin, where Yi He recruited him. The two co-founded Binance in 2017.
How the sale worked, in three steps
- From June 26 to July 3, 2017, Binance offered 100 million of its 200 million BNB at about 15 cents each. Buyers paid in ether or bitcoin: 2,700 BNB for one ETH.
- Binance says the sale raised about $15 million. The founding team kept 40% of all BNB and early backers 10%. A 2023 Forbes analysis of the blockchain records found it likely raised under $5 million.
- The exchange opened on July 14. Paying fees in BNB cut them in half in year one, with the discount meant to step down after that. Binance also promised to spend 20% of its earnings each quarter buying back BNB and destroying it, until half the supply was gone.
What BNB does today
| Job | How it works |
|---|---|
| Pays the fee | Every transaction on BNB Smart Chain pays its fee in BNB. |
| Cuts trading fees | Binance has offered a discount on fees paid in BNB since 2017. |
| Shrinks | Some BNB is destroyed every quarter, from 200 million toward 100 million. |
| Opens doors to new coins | Since 2019 the BNB someone holds on Binance has set their share in its launch programs. |
BNB started life as a token on Ethereum. It moved to Binance Chain on April 18, 2019 and became the fuel of Binance Smart Chain from September 1, 2020. On February 15, 2022 the chain became BNB Smart Chain and the coin became just BNB, short for “Build and Build”.
Summer to winter 2017
Five months to the top NEO, GAS and fork credits
Binance opened on July 14, 2017, and by December 27 it said it was the world’s biggest exchange by trading volume.
The timing was rough. On September 4, 2017, China banned coin sales, and Binance moved its servers to Japan that month. It kept growing anyway, with low fees, fast listings and three give-backs other exchanges skipped.
Three moves that won users in 2017
| Move | What happened |
|---|---|
| NEO holders kept their GAS | NEO pays its holders a second coin called GAS. Many exchanges kept the GAS earned by NEO sitting with them. From August 2017 Binance passed it to users every month, and in September it gave 5,000 GAS to 10,000 users who deposited NEO. |
| Bitcoin Gold, credited the same day | When Bitcoin split on October 24, 2017, Binance credited 1 Bitcoin Gold for every bitcoin its users held there and opened trading at once. |
| Bitcoin Diamond, ten for one | On November 24, 2017 it credited 10 Bitcoin Diamond for every bitcoin held. |
A fork in plain words: a new coin copies Bitcoin’s ledger, so anyone holding bitcoin at that moment also owns the new coin. Many exchanges were slow to hand those coins over. Binance did the claiming for its users.
By December 27 Binance said it was the world’s biggest exchange by trading volume, with 2.9 million users, 96 coins listed and a matching engine that handled 1.4 million orders a second. Those are Binance’s own figures, from its own release.
The US case and after
CZ and Binance since 2023 dated and sourced
In November 2023 Binance and CZ settled with US authorities and CZ stepped down; he served his sentence, was pardoned in October 2025, and two co-CEOs now run Binance.
On November 21, 2023, Binance pleaded guilty to Bank Secrecy Act, unlicensed money transmitting and sanctions violations. CZ pleaded guilty to one count of failing to maintain an effective anti-money-laundering program and stepped down as CEO; Richard Teng took over that day.
The November 2023 US settlement
| Agency | Binance | CZ |
|---|---|---|
| Justice Department | $4.32 billion in fines and forfeiture | $50 million criminal fine |
| FinCEN (Treasury) | $3.4 billion civil penalty | Binance only |
| OFAC (Treasury) | $968 million | Binance only |
| CFTC | $2.7 billion | $150 million civil penalty, reduced to $100 million by credit for his criminal fine |
The agencies credit each other, so the total Binance paid is about $4.3 billion, not the sum of the rows.
A federal judge in Seattle sentenced CZ to four months on April 30, 2024. He was released on September 27, 2024. On October 23, 2025, the White House said President Trump “exercised his constitutional authority by issuing a pardon for Mr. Zhao.” The SEC’s separate lawsuit against Binance, Binance.US and CZ was dismissed with prejudice on May 29, 2025, with no finding either way.
Since December 3, 2025, Binance has had two co-CEOs, Richard Teng and Yi He. CZ calls himself “the single largest shareholder of Binance, but I don’t run Binance.”
Other dated facts: Abu Dhabi’s MGX bought a $2 billion stake in Binance on March 12, 2025, paid in the USD1 stablecoin. Abu Dhabi’s regulator licensed Binance’s exchange on December 8, 2025. Binance says it had more than 323 million registered users on July 16, 2026.
Binance.US
Binance.US is a separate American company, opened in September 2019 after Binance.com began blocking US users. In April 2022 it raised just over $200 million at a $4.5 billion valuation before the new money, its only priced round on record. Stephen Gregory became its CEO on March 9, 2026.
Launch programs
Coins born on Binance and which ones lasted
For years, holding BNB was the ticket to new coins on Binance; a few grew huge, and most fell far from their highs.
Binance Launchpad sold brand-new coins before they listed. The first sale, GIFTO, sold out within a minute on December 14, 2017. The 2019 revival with BitTorrent raised about $7 million in under 20 minutes. From then on, sales were priced in dollars and paid in BNB, and the BNB someone held over the days before a sale set how much they could buy: first come, then a lottery, then a share of what everyone committed. Arkham, in July 2023, was the last Launchpad sale.
The programs changed shape but kept the same hook, the BNB balance. Launchpool, from September 2020, let people park BNB for a few days and receive a new coin as it launched. Megadrop in 2024 added tasks. HODLer Airdrops, from June 2024, drop new coins into accounts that keep BNB in Binance’s savings product; OpenGradient was the 66th, in June 2026. In 2024 Binance handed out about 94% of all exchange-hosted airdrop and Launchpool rewards, by CoinMarketCap’s count.
Launchpad sales, then and now
| Coin | Sale | Sale price | Peak, against the sale | Now, against the sale |
|---|---|---|---|---|
| Polygon (POL) | April 2019 | $0.00263 | 1,110 times | 35.7 times |
| Injective (INJ) | Oct 20, 2020 | $0.40 | Not in CoinGecko’s top ten | 21.5 times |
| Axie Infinity (AXS) | Nov 4, 2020 | $0.10 | 1,649 times | 10.5 times |
| The Sandbox (SAND) | Aug 14, 2020 | $0.008333 | 1,008 times | 6.5 times |
| Arkham (ARKM) | July 18, 2023 | $0.05 | 16 times | 2.4 times |
| STEPN (GMT) | Mar 9, 2022 | $0.01 | 411 times | 0.77 times |
| Kava (KAVA) | Oct 24, 2019 | $0.46 | Not given | 0.15 times |
| Hooked (HOOK) | Dec 1, 2022 | $0.10 | 41 times | 0.03 times |
Read Oct 16, 2026. No links and no live prices on purpose: this table shows the drop, it doesn’t point at a coin.
Of 23 sales we could price, 10 trade below their sale price and the median sits at 1.3 times. The biggest coins born through Binance today, Sui and Ethena, came through Launchpool and aren’t BNB Chain coins at all. The BNB Chain natives that lasted are PancakeSwap’s CAKE, Trust Wallet’s TWT, Venus’s XVS and, lately, Aster. Newer listings fared worse: a study of Binance’s 2024 listings found 98% fell after listing, by 70% on average.
We tell this history so you know where demand for BNB came from. We don’t explain how to join these programs, and Binance.com has blocked US users since 2019.
DeFi, 2020 to now
The DeFi rush of 2020 and what still holds money
With the world at home and Ethereum fees soaring in 2020, BNB Chain offered the same kinds of apps for cents, money poured in, and two of the boom’s names still lead today.
DeFi means trading, lending and saving through apps that run on a blockchain, with no bank in the middle. Binance Smart Chain launched on September 1, 2020, and copies of Ethereum’s favorite apps followed within weeks, paying “farming” rewards in their own new tokens. The dollars deposited in BNB Chain apps, called TVL, went from $12.9 million on October 30, 2020 to a peak of $21.78 billion on May 5, 2021, by DefiLlama’s count.
May 2021 broke the boom: a market crash and a run of exploits in the same weeks. Today those apps hold about $5.35 billion, roughly 75% below the peak.
The boom’s apps, then and now
| App | What it did | In the boom | Read Oct 16, 2026 |
|---|---|---|---|
| PancakeSwap (CAKE) | Swaps, plus farms paying CAKE | Launched September 2020 | Still the biggest app on BNB Chain |
| Venus (XVS) | Lending | On May 19, 2021, over $200 million was liquidated and Venus was left with more than $95 million of bad debt | Still the main lender |
| Beefy Finance (BIFI) | Vaults that reinvest farm rewards for you | Deposits peaked at $1.3 billion on November 26, 2021 | $7.33 million on BNB Chain; Binance delisted BIFI on April 23, 2026 |
| PancakeBunny (BUNNY) | Reinvested rewards and minted its own token | Exploited in May 2021: $45 million drained, BUNNY from about $146 to about $0.90 | Effectively finished |
| BurgerSwap (BURGER) | Swaps | Flash-loan attack on May 28, 2021, about $7.2 million taken | Tiny |
| Alpaca Finance (ALPACA) | Farming with borrowed funds | Token high of $8.78 in March 2021 | Wound down by June 30, 2025 |
Where the money sits now
| App | What it is | Deposited | 30-day change |
|---|---|---|---|
| PancakeSwap | Exchange | $1.92 billion | Down 11.9% |
| Venus | Lending | $1.26 billion | Up 1.5% |
| Lista DAO | BNB staking and lending | $1.26 billion | Down 33.0% |
| Binance staked ETH (wBETH) | Staked ether | $518 million | Up 2.2% |
| Uniswap | Exchange, from Ethereum | $241 million | Up 81.5% |
| Aave V3 | Lending, from Ethereum | $205 million | Up 9.1% |
In plain words: one exchange, two lenders and staked coins. The farms of the boom are gone from the top of the list. PancakeSwap still carries about 73% of BNB Chain’s swap volume and earned $14.55 million in fees over the last 30 days. About $13.1 billion of stablecoins sit on BNB Chain, 70% of it Tether’s USDT.
Memecoins, risk first
They are tokens with no product, traded on jokes and attention, and their seasons end fast. BROCCOLI, named after CZ’s dog, passed $400 million in value in October 2025 and then fell more than 80% within weeks. The four.meme launchpad earned $43 million in the 30 days to October 30, 2025 and $232,720 in the last 30 days. We name no memecoin to buy and link none.
Perpetuals
Perps born on BNB Chain explained risk first
A perpetual future tracks a coin’s price with no end date, usually with borrowed money on top, so a small move can close a position and take the margin; on BNB Chain that story runs through Aster and PancakeSwap.
In 2025 perps moved onto blockchains, and BNB Chain’s entry was Aster. It formed in March 2025 from APX Finance and Astherus, is backed by YZi Labs, the renamed Binance Labs, and The Block describes CZ as an adviser. Its token launched on September 17, 2025. Around September 24, 2025 it reported $20.8 billion of volume in 24 hours, against Hyperliquid’s $9.7 billion.
Then came the questions. On October 5, 2025, DefiLlama pulled Aster’s perps volume after its founder said the volume closely mirrored Binance’s and Aster did not share who was trading; the token fell about 10%. DefiLlama lists Aster again today. In March 2026 Aster moved to its own chain.
PancakeSwap, BNB Chain’s biggest exchange, is a swap venue first. Its original perps product did $60.08 billion in its lifetime and shows no volume in the last 30 days. On May 15, 2026 it relaunched perps on Aster’s order book.
Perpetuals use borrowed money: a small move can close a position and take the margin. Volume is not the same as users, and Aster’s was questioned in 2025.
The network
BNB Chain’s speed next to Ethereum
BNB Chain makes a new block in under a second and settles in about a second for about half a cent; it gets there with far fewer validators than Ethereum.
| BNB Smart Chain | Ethereum | Base, built on Ethereum | |
|---|---|---|---|
| New block every | 0.45 seconds | 12 seconds | 2 seconds, with early confirmations about every 0.2 seconds |
| Final in about | 1.1 seconds | 15 minutes | Not stated on Base’s own pages |
| Typical fee | About half a cent | About 15¢ on average in January 2026 | Not stated |
| Who keeps it running | 45 active validators | More than 860,000 validators | Not stated on Base’s own pages |
| Dollars deposited in apps | $5.34 billion | $50.30 billion | $6.17 billion |
| Exchange volume, 30 days | $28.15 billion | $43.38 billion | $31.32 billion |
The last two rows are measured by DefiLlama; the rest are what each chain states.
BNB Chain kept getting quicker: a block every three seconds at launch in 2020, 1.5 seconds from April 29, 2025, 0.75 seconds from June 30, 2025, and 0.45 seconds since the Fermi upgrade in January 2026. Two more upgrades in 2026, in April and August, kept that pace. Since October 2025 the network’s base gas price has been 0.05 gwei, which puts an average transaction near half a cent. It set a record of 31 million transactions in a day that month.
Two smaller networks sit beside it: opBNB, a cheaper layer 2 live since September 13, 2023, and BNB Greenfield, a storage network live since October 17, 2023.
The trade-off, said plainly
Speed comes from a small club. QuickNode puts BNB Chain’s Nakamoto coefficient, the number of validators that would need to act together to stop or censor it, at about 7, against about 30 for Ethereum. It has happened: on October 6, 2022 an attacker used a bug in the chain’s bridge to take 2 million BNB, and validators halted the chain for several hours. For a 15-minute window, chain speed is not the price: the window settles on an exchange index, not on blocks. One window spans about 2,000 BNB Chain blocks.
Wallets
One address, two chains wallets and ETH on BNB Chain
BNB Chain runs Ethereum’s virtual machine, so the same wallet address works on both; what changes is which coin pays the fee and which network your coins sit on.
One address, two chains
Ethereum wallets work on BNB Smart Chain, network number 56, with the same address. Coins sent on BNB Chain don’t show up on Ethereum, and the reverse. Picking the wrong network on a withdrawal is one of the most common ways people lose coins.
Paying the fee
On BNB Chain the fee is paid in BNB; on Ethereum, in ETH. A wallet needs a little of the right coin on the right chain to move anything.
How ETH gets there
ETH on BNB Chain is a stand-in, never the coin itself. The biggest is Binance-Peg ETH, a token backed one for one by ETH held in reserve, worth about $1.32 billion. Binance’s staked ether, wBETH, adds about $506 million. Bridges hold ETH on one chain and mint a copy on the other. Each is an IOU, worth what its holder keeps behind it.
Two wallets come up most with BNB. Trust Wallet, which Binance bought on July 31, 2018, works across more than 100 chains and says it has over 210 million users, the company’s own figure. Binance Wallet, launched on November 8, 2023, splits its key into three shares, one with Binance, one on the phone and one in the user’s own cloud, and is not offered in the US. We name them so you know what they are. We don’t rank or link wallets.
Supply
Burns and supply toward half the start
BNB destroys some of its coins every quarter, plus a slice of every block’s fees, until half of what was first created is left.
- Created in 2017
- 200,000,000 BNB
- Burned so far
- 66.8 million BNB, 67% of the way
- Left after the 36th burn
- 133,166,127.91 BNB
- Target
- 100,000,000 BNB
Of that, about 291,000 BNB had been burned from fees block by block by July 15, 2026.
Two burns run side by side. Since January 2022, a formula sets each quarter’s burn: fewer coins when the price is high and more when it is low, so the dollar size stays steadier. And since November 2021, every block on BNB Smart Chain burns a fixed share of its fees. The quarterly burn does most of the work, about 1.6 million BNB a time lately, against roughly 6,000 a quarter from fees.
The 36th burn, on July 15, 2026, destroyed 1,615,827.795 BNB and left 133,166,127.91. The 37th burn had not been posted when we checked on October 16, 2026; recent October burns were posted on November 1, 2024 and October 27, 2025. Faster blocks in 2025 forced a change to the formula that BNB Chain hasn’t published, so we explain the idea and don’t print its constants.
A shrinking supply is a fact about the coin, not a promise about its price.
The latest quarterly burns
| Burn | Posted | BNB burned | Supply after |
|---|---|---|---|
| 36th | July 15, 2026 | 1,615,827.795 | 133,166,127.91 |
| 35th | April 15, 2026 | 1,569,307.34 | 134,786,916.53 |
| 34th | January 15, 2026 | 1,371,803.77 | 136,361,374.34 |
| 33rd | October 27, 2025 | 1,441,281.413 | 137,738,379.26 |
Each date links BNB Chain’s own post. A live burn tracker (opens in a new tab), a plain link.
“Burn day is on the calendar, but the hour is not. When the post lands, I keep my guard up.” Agent Mark
Price history
BNB’s price history annotated and dated
BNB went from cents in its 2017 sale to a record high in October 2025, and every turn on the way is dated below.
The record is $1,370.55 by CoinMarketCap’s count, set on October 13, 2025; CoinGecko lists $1,369.99 for the same day, because each reads different trades. BNB first traded above $1,000 on September 18, 2025.
The low is harder to pin: CoinMarketCap shows $0.09611 on August 1, 2017 and CoinGecko $0.03982, because early BNB traded mostly against bitcoin and ether.
On October 19, 2026, BNB closed at $732.13 on Binance’s BNB/USDT market, about 47% below that record.
Three times BNB has fallen more than 70% from a high: in 2018, from 2019 into the March 2020 crash, and from May 2021 to June 2022. The fastest was May 2021, down 69% in 13 days. Two of the sharpest moves were company news, not markets: FTX week in November 2022, down about 35% in two days, and the 2023 settlement day, down about 11%.
What the numbered marks are
- 1 Jul 14, 2017 Binance opens, two weeks after the BNB sale.
- 2 Sep 1, 2020 Binance Smart Chain launches and DeFi follows.
- 3 May 10, 2021 2021 high, $691.77.
- 4 Jun 18, 2022 Bear market low, $183.40.
- 5 Nov 8, 2022 FTX week: $398.30 to $260.20 in two days.
- 6 Jun 5, 2023 The SEC sues Binance, Binance.US and CZ.
- 7 Nov 21, 2023 US settlement of about $4.3 billion; CZ steps down.
- 8 Jun 5, 2024 First new high since 2021.
- 9 Sep 18, 2025 BNB trades above $1,000 for the first time.
- 10 Oct 13, 2025 All-time high, $1,370.55, three days after a market crash.
- 11 Oct 23, 2025 CZ is pardoned.
- 12 May 28, 2026 The first US spot BNB fund begins trading.
The closes behind this chart, as a table
| Year | Highest trade | Lowest trade | Last weekly close |
|---|---|---|---|
| 2017 | $11.30 | $0.50 | $8.53 |
| 2018 | $25.18 | $4.12 | $6.27 |
| 2019 | $39.59 | $5.37 | $14.05 |
| 2020 | $41.70 | $6.38 | $41.26 |
| 2021 | $691.77 | $35.04 | $531.00 |
| 2022 | $532.80 | $183.40 | $244.40 |
| 2023 | $350.00 | $202.00 | $311.80 |
| 2024 | $793.86 | $287.50 | $709.29 |
| 2025 | $1,375.11 | $500.00 | $895.43 |
| 2026 | $959.52 | $537.25 | $723.36 |
From November 2017, when Binance’s BNB/USDT market opened; the latest year runs to the last complete week.
Funds and futures
Ways to trade BNB in the US funds, perps and treasuries
A US reader can reach BNB through prediction markets, regulated perpetuals and exchange-traded funds, and a few public companies hold it as a reserve.
| Market | What it is | Settles on | Most you can lose | Graded on this site |
|---|---|---|---|---|
| Kalshi, BNB 15-minute (18+) | Up or down at each quarter-hour close | A 60-second average of a CF Benchmarks BNB real-time index | What you paid plus the fee | Yes: our records and Agent Mark |
| Kalshi, BNB hourly, monthly and yearly (18+) | BNB in a $5 range or above a line at a set time, or a monthly or yearly high or low | The same index | What you paid plus the fee | No |
| Kalshi, BNB perpetual (18+) | Tracks BNB with no end date | The venue’s reference price | Your margin | No |
| Coinbase Derivatives, BNB perp-style future | A regulated future on BNB, one BNB per contract, filed in May 2026 | A MarketVector BNB rate | Your margin | No |
| VanEck BNB ETF (VBNB) | A spot fund on Nasdaq, since May 28, 2026 | Net asset value each trading day | What you put in | No |
| Teucrium 2x BNB (XBNB) | Seeks twice BNB’s daily move, resets daily, since April 28, 2026 | Net asset value each trading day | What you put in, and it can fall twice as fast in a day | No |
VBNB charges 0.39% a year, stakes most of the BNB it holds, and had about $96.8 million in net assets on October 14, 2026. Grayscale’s BNB fund was still a filing at its June 3, 2026 amendment, and REX-Osprey’s BNB staking fund has an effective date of October 23, 2026. Kalshi has taken BNB and USDT deposits on BNB Chain from US accounts since December 22, 2025.
A few public companies hold BNB as a reserve. The largest is BNB Standard Corporation, formerly CEA Industries (Nasdaq: BNC), with 515,544 BNB. CoinStats counts 686,080 BNB across listed holders, about 0.5% of all BNB.
Fund and company buying is context for BNB’s price, not a signal for a 15-minute window. VBNB’s assets are a sliver of BNB’s market value, about $97 billion on October 19, 2026 (our math: the supply after the latest burn times that day’s close).
Open the live desk · Perpetuals explained · How prices and fees work
BNB questions answered plainly
What is BNB?
BNB is the coin of BNB Chain and of Binance, the exchange that created it. It began in 2017 as a discount coupon for trading fees on Binance, and today it pays the fee for every transaction on BNB Chain. Its supply shrinks every quarter through a burn, toward half of what was first created.
Is BNB the same as Binance Coin?
Yes. Binance sold it in 2017 as Binance Coin. On February 15, 2022, the name was dropped and the coin became just BNB, which now stands for “Build and Build”. Binance Smart Chain became BNB Smart Chain on the same day.
Who created BNB, and who runs Binance now?
Changpeng Zhao, known as CZ, co-founded Binance with Yi He in July 2017 and ran it until November 2023. Since December 3, 2025, Binance has had two co-CEOs, Richard Teng and Yi He. CZ was pardoned in October 2025 and says he does not run the company; he remains its largest shareholder.
What settles a BNB 15-minute window?
The 60-second average of a CF Benchmarks BNB real-time index in the minute before the close, against the same average in the minute before the open, rounded to the cent. The index is calculated every second from Coinbase and Kraken only. A window that ends exactly on its line resolves up. Binance’s own BNB market is not in the index.
How often does BNB close up in a 15-minute window?
From March 6 to October 19, 2026, 10,296 of 20,281 settled 15-minute windows closed up, close to an even split. One window does not predict the next: in our records a window settled the same way as the one before it 48.9% of the time, about a coin flip. Each window is its own market.
How much BNB has been burned, and when is the next burn?
About 66.8 million BNB have been burned so far, 67% of the way from the original supply to the target. The 36th quarterly burn, on July 15, 2026, destroyed 1,615,827.795 BNB. The 37th burn had not been posted when we checked on October 16, 2026; recent October burns were posted on November 1, 2024 and October 27, 2025.
Do Ethereum wallets work on BNB Chain?
Yes. BNB Chain runs Ethereum’s virtual machine, so an Ethereum wallet works on BNB Smart Chain with the same address. The fee is paid in BNB there, not ETH. ETH on BNB Chain is a stand-in token backed by ETH held elsewhere, and sending coins on the wrong network is a common way to lose them.
What was Binance.US valued at?
Binance.US is a separate US company that opened in September 2019. In April 2022 it raised just over $200 million at a $4.5 billion valuation before the new money, its only priced round on record. Its proposed purchase of Voyager Digital’s assets, agreed in December 2022, was called off in April 2023.
Is there a US BNB ETF?
Yes. VanEck’s spot BNB ETF, VBNB, has traded on Nasdaq since May 28, 2026. VBNB charges 0.39% a year, stakes most of the BNB it holds, and had about $96.8 million in net assets on October 14, 2026. Teucrium’s XBNB, which seeks twice BNB’s daily move, began trading on April 28, 2026. Grayscale’s BNB fund was still a filing at its June 3, 2026 amendment, and REX-Osprey’s BNB staking fund has an effective date of October 23, 2026.
Who is Agent Mark?
PM Countdown’s AI prediction market agent for BNB’s 15-minute market. Since October 16, 2026 he calls Up or Down or passes on each window, and every call and pass is logged and graded at settlement, misses included. Mark makes calls and places no real orders, and an agent’s record is not advice.
Where these numbers come from
- Settled BNB 15-minute windows, their up and down results, and how often one repeated the last: Kalshi’s public market data, recorded by PM Countdown, built Oct 20, 2026.
- How often BNB settled the same way as Bitcoin and Ethereum, and BNB’s window moves against Bitcoin’s: the same records, BNB, Bitcoin and Ethereum windows that closed together, built Oct 20, 2026.
- Agent Mark’s calls, passes and results: Agent Mark’s record, built Oct 20, 2026.
- BNB’s weekly and daily closes in the price chart: Binance public market data, BNB/USDT, built Oct 20, 2026.
- Every quarterly burn and the supply after it: BNB Chain’s own burn posts, 29th to 36th, checked Oct 16, 2026.
- How a window settles, the tie rule and rounding to the cent: Kalshi market rules, checked Oct 16, 2026.
- The index’s exchanges, Coinbase and Kraken: CF Benchmarks constituent exchanges, checked Oct 16, 2026.
- The Thursday maintenance pause: Kalshi docs, checked Oct 16, 2026.
- The Kalshi fee: Kalshi fee schedule, checked Oct 16, 2026.
- Binance’s opening date: ForkLog, checked Oct 16, 2026.
- China’s September 2017 ban on coin sales: Orrick InfoBytes, checked Oct 16, 2026.
- Binance’s move to Japan: MaltaToday, checked Oct 16, 2026.
- Sui and Ethena came through Launchpool: CoinGecko, Binance Launchpool category, checked Oct 16, 2026.
- Binance Smart Chain’s launch: BNB Chain blog, checked Oct 16, 2026.
- Two upgrades in 2026 that kept the block time: BNB Chain, Osaka and Mendel upgrade, checked Oct 16, 2026.
- How pegged tokens are backed: Trust Wallet community, checked Oct 16, 2026.
- Binance Smart Chain’s fee burn: BNB Chain, Bruno upgrade, checked Oct 16, 2026.
- The burn formula changed after faster blocks: BNB Chain, 33rd burn, checked Oct 16, 2026.
- Binance.US’s Voyager deal, called off: BNN Bloomberg, checked Oct 16, 2026.
- Coinbase's BNB price against the settlement index: Agent Mark's page, checked Oct 16, 2026.
- CZ's early life: Wikipedia, Changpeng Zhao, checked Oct 16, 2026.
- CZ's career before Binance; Binance's co-CEOs: Fortune, checked Oct 16, 2026.
- The 2017 sale: dates, size and price: Outlook Business, checked Oct 16, 2026.
- What the sale raised, Binance's figure, and the split: HackerNoon, quoting the SEC complaint, checked Oct 16, 2026.
- What the sale raised, Forbes's estimate: Forkast, on the Forbes analysis, checked Oct 16, 2026.
- The fee discount and the buyback promise; The fee discount since 2017: Crypto Briefing, checked Oct 16, 2026.
- BNB pays the fee on BNB Smart Chain; Block time: BNB Smart Chain, Ethereum, Base; Finality: BNB Smart Chain and Ethereum; Validators: BNB Smart Chain and Ethereum: BNB Chain docs, checked Oct 16, 2026.
- Quarterly burns from 200 million toward 100 million; BNB burned from fees, block by block: BNB Chain, 36th burn, checked Oct 16, 2026.
- BNB balances set shares in launch programs; Launchpad sales paid in BNB: Binance announcement, Elrond sale, checked Oct 16, 2026.
- BNB's move to its own chains and the rename: The Block, checked Oct 16, 2026.
- GAS passed to NEO holders: NEO News Today, checked Oct 16, 2026.
- Bitcoin Gold credited one for one: Binance announcement, Bitcoin Gold, checked Oct 16, 2026.
- Bitcoin Diamond credited ten for one: Binance announcement, Bitcoin Diamond, checked Oct 16, 2026.
- Binance's December 2017 figures; Chart pin: Binance opens, two weeks after the BNB sale: Binance release via Mondo Visione, checked Oct 16, 2026.
- The November 2023 pleas; The settlement total, with credits; Chart pin: US settlement of about $4.3 billion; CZ steps down: Reed Smith, checked Oct 16, 2026.
- Justice Department penalties: Violation Tracker Global, checked Oct 16, 2026.
- FinCEN penalty; OFAC penalty: Axios, checked Oct 16, 2026.
- CFTC penalties: CFTC release, checked Oct 16, 2026.
- CZ's sentence and release: Axios, checked Oct 16, 2026.
- The pardon, in the White House's words; Chart pin: CZ is pardoned: PBS NewsHour, checked Oct 16, 2026.
- The SEC case dismissed; Chart pin: The SEC sues Binance, Binance.US and CZ: SEC litigation release, checked Oct 16, 2026.
- CZ's role today, in his words: The Cryptonomist, checked Oct 16, 2026.
- MGX's stake in Binance: The Block, checked Oct 16, 2026.
- Binance's Abu Dhabi licence: ADGM, checked Oct 16, 2026.
- Binance's registered users, its own figure: Gulf News, checked Oct 16, 2026.
- Binance.US opening: Crowdfund Insider, checked Oct 16, 2026.
- Binance.US's 2022 valuation: Business Wire, checked Oct 16, 2026.
- Binance.US's CEO: Business Wire, checked Oct 16, 2026.
- The first Launchpad sale: Crowdfund Insider, checked Oct 16, 2026.
- The 2019 BitTorrent sale: Cointelegraph, checked Oct 16, 2026.
- The last Launchpad sale: UseTheBitcoin, checked Oct 16, 2026.
- Launchpool and Megadrop: Decrypt, checked Oct 16, 2026.
- HODLer Airdrops count: OneKey, checked Oct 16, 2026.
- Binance's share of exchange airdrop rewards in 2024: The Crypto Basic, citing CoinMarketCap, checked Oct 16, 2026.
- Launchpad row: Polygon; Launchpad row: Injective; Launchpad row: Axie Infinity; Launchpad row: The Sandbox; Launchpad row: Arkham; Launchpad row: STEPN; Launchpad row: Kava; Launchpad row: Hooked; How Launchpad sales did, by our count: CoinGecko, Binance Launchpad category, checked Oct 16, 2026.
- How Binance's 2024 listings did: BitPinas, checked Oct 16, 2026.
- BNB Chain's DeFi deposits, 2020 to the 2021 peak; Chart pin: Binance Smart Chain launches and DeFi follows: DefiLlama, checked Oct 16, 2026.
- BNB Chain's DeFi deposits today; Deposits on BNB Chain: PancakeSwap; Deposits on BNB Chain: Venus; Deposits on BNB Chain: Lista DAO; Deposits on BNB Chain: Binance staked ETH (wBETH); Deposits on BNB Chain: Uniswap; Deposits on BNB Chain: Aave V3: DefiLlama, BSC, checked Oct 16, 2026.
- PancakeSwap's launch: DefiLlama, PancakeSwap, checked Oct 16, 2026.
- Venus's May 2021 liquidations: The Block, checked Oct 16, 2026.
- Beefy then and now: DefiLlama, Beefy, checked Oct 16, 2026.
- PancakeBunny exploit: The Block, checked Oct 16, 2026.
- BurgerSwap attack: CoinDesk, checked Oct 16, 2026.
- Alpaca Finance wind-down: The Block, checked Oct 16, 2026.
- PancakeSwap's share of BNB Chain swaps and its fees: DefiLlama, checked Oct 16, 2026.
- Stablecoins on BNB Chain: DefiLlama, stablecoins on BSC, checked Oct 16, 2026.
- BROCCOLI's rise and fall: Decrypt, checked Oct 16, 2026.
- four.meme's earnings, then and now: DefiLlama, four.meme, checked Oct 16, 2026.
- Aster's origin and token launch: The Block, checked Oct 16, 2026.
- Aster's record day: ForkLog, checked Oct 16, 2026.
- DefiLlama pulls Aster's volume: The Block, checked Oct 16, 2026.
- Aster's own chain: The Defiant, checked Oct 16, 2026.
- PancakeSwap's original perps product: DefiLlama, PancakeSwap Perps, checked Oct 16, 2026.
- Typical fee on BNB Smart Chain and Ethereum; BNB Smart Chain's base gas price: Cryptometer, checked Oct 16, 2026.
- Dollars deposited in apps by chain: DefiLlama, chains, checked Oct 16, 2026.
- Exchange volume by chain, 30 days: DefiLlama, exchange volume by chain, checked Oct 16, 2026.
- BNB Smart Chain's block-time cuts: BNB Chain, Fermi upgrade, checked Oct 16, 2026.
- BNB Chain's record day of transactions: BNB Chain weekly report, checked Oct 16, 2026.
- opBNB and Greenfield launch dates: The Block, checked Oct 16, 2026.
- Nakamoto coefficient: BNB Chain and Ethereum: QuickNode, checked Oct 16, 2026.
- The October 2022 bridge exploit and halt: The Block, checked Oct 16, 2026.
- BNB Smart Chain's network number: Revoke.cash, checked Oct 16, 2026.
- Binance-Peg ETH on BNB Chain: CoinGecko, Binance-Peg ETH, checked Oct 16, 2026.
- wBETH on BNB Chain: DefiLlama, Binance staked ETH, checked Oct 16, 2026.
- Trust Wallet's chains and users, company figures: Trust Wallet, checked Oct 16, 2026.
- Binance Wallet's key design: Cointelegraph, checked Oct 16, 2026.
- How the two burns work: Cointelegraph, checked Oct 16, 2026.
- The next quarterly burn, not yet posted: BNB Chain blog, checked Oct 16, 2026.
- BNB's record high; BNB's low, by two sources; Chart pin: All-time high, $1,370.55, three days after a market crash: CoinMarketCap, checked Oct 16, 2026.
- BNB's first trade above $1,000; Chart pin: BNB trades above $1,000 for the first time: Benzinga, checked Oct 16, 2026.
- BNB's three big drawdowns; BNB's sharpest company-news days; Chart pin: 2021 high, $691.77; Chart pin: Bear market low, $183.40; Chart pin: FTX week: $398.30 to $260.20 in two days; Chart pin: First new high since 2021: Binance monthly candles, checked Oct 16, 2026.
- Chart pin: The first US spot BNB fund begins trading; Ways to trade BNB in the US: VanEck BNB ETF (VBNB): CoinDesk, checked Oct 16, 2026.
- Ways to trade BNB in the US: Kalshi, BNB 15-minute (18+): Kalshi market rules, checked Oct 16, 2026.
- Ways to trade BNB in the US: Kalshi, BNB hourly, monthly and yearly (18+): Kalshi series list, checked Oct 16, 2026.
- Ways to trade BNB in the US: Kalshi, BNB perpetual (18+): Kalshi series list, checked Oct 16, 2026.
- Ways to trade BNB in the US: Coinbase Derivatives, BNB perp-style future: CFTC filing, checked Oct 16, 2026.
- Ways to trade BNB in the US: Teucrium 2x BNB (XBNB): Business Wire, checked Oct 16, 2026.
- VBNB's fee and net assets: VanEck, checked Oct 16, 2026.
- Grayscale's and REX-Osprey's BNB funds: SEC filing, checked Oct 16, 2026.
- Kalshi's BNB Chain deposits: BNB Chain blog, checked Oct 16, 2026.
- BNB Standard Corporation's holding: GlobeNewswire, checked Oct 16, 2026.
- BNB held by listed companies: CoinStats, checked Oct 16, 2026.
Computed on this page. The window counts, the date range, the typical-window table, the shares of windows that settled the same way as Bitcoin and Ethereum, the correlation and the size of BNB’s moves against Bitcoin’s, Mark’s counts, the burn totals and the price stamps are worked out by our own scripts from the files above, as of Oct 20, 2026, 3:20 AM PT.
What we could not verify, and therefore left out
- Today’s discount for paying Binance fees in BNB: we found no dated page, so we print no rate.
- The current numbers inside the burn formula: BNB Chain says they changed in 2025 but has not published them.
- Grayscale’s BNB fund after June 2026, and whether Coinbase’s BNB futures have started trading.
- Kalshi’s BNB perpetual launch date and its exposure limit, until we read them on Kalshi’s own pages.
- Who issues the Binance-Peg ETH token, named on a primary page.
- Aster’s and Hyperliquid’s volume over the last 30 days: a second read of DefiLlama did not confirm the first, so the section prints the dated record only.
- A press report in 2026 of a new US probe that Binance said it was not aware of: unproven, so it stays off this page.
More on BNB every page in one place
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