Binance coin is a cryptocurrency that is native to the Binance exchange. Binance coin can be used to pay fees and it will also feature in their upcoming decentralized exchange.
Binance coin is an ERC 20 token based on the Ethereum blockchain.
The Binance exchange was founded in July 2017 and since then it has become one of the most popular cryptocurrency exchanges. The Binance coin was created during the Initial Coin Offering (ICO) of the Binance exchange and it raised 15 million dollars.
The total supply of Binance coins is 200 million and currently, there are 109 million Binance coins in circulation.
The price of Binance coin has seen a lot of volatility in the past but it has generally trended upwards. In January 2018, the price of Binance coin was around $8 but it surged to an all-time high of $24 in January 2019.
Currently, the price of Binance coin is around $15.
Binance has plans to launch their own decentralized exchange (DEX) sometime in 2019. The DEX will be powered by the Binance coin and it will allow for trustless, peer-to-peer trading.
The launch of the DEX will be a big boost for the adoption of Binance coin.
Currently, Gemini does not support Binance coin but this could change in the future as Gemini adds support for more cryptocurrencies.