For the first time since December 2021, the BNB cryptocurrency reached $600, setting a new annual high. This is a significant event for the market, as BNB has not traded at this level for over two years. It should be noted that after reaching this important psychological milestone, the price of BNB has slightly decreased and is currently hovering around $590.

Since its debut on the Binance exchange, BNB has shown significant growth, reaching its peak in May 2021 when its price was $686. Currently, according to CoinMarketCap data, BNB ranks fourth among cryptocurrencies by market capitalization, approaching $89.4 billion. This puts it just slightly behind Tether's USDT stablecoin, whose market capitalization exceeds $100 billion.

There are 149,539,489 BNB in circulation, which represents 100% of the total coin supply. Binance regularly conducts quarterly token burns to maintain the deflationary nature of the asset. For example, in January 2024, over 2 million BNB were burned. In December 2021, an automatic BNB burning mechanism was introduced with the aim of maintaining the deflationary nature of the asset by reducing its total supply.

According to reports, Binance controls approximately 116.9 million BNB, which accounts for approximately 76% of the total issuance volume. This underscores the significant influence of the exchange on the market of this cryptocurrency.