As of December 17, 2024, Binance Coin $BNB is trading around $720, down from its all-time high of $794 on December 4, maintaining a market capitalization above $100 billion. Despite this recent decline, BNB remains the fourth-largest cryptocurrency by market cap, following Bitcoin, Ethereum, and USD Tether. BNB's value is closely linked to the performance of the Binance exchange, which has faced regulatory challenges in 2023 and 2024. Nevertheless, BNB continues to be utilized for various applications, including transaction fee payments on Binance platforms, participation in token sales, and other services within the Binance ecosystem.
