Wrapped BNB (WBNB) is a pivotal digital asset in the decentralized finance (DeFi) landscape, enabling broader utility for Binance Coin (BNB) across smart contract platforms. Designed to operate seamlessly within the Binance Smart Chain (BSC) ecosystem, WBNB adheres to the BEP-20 token standard, unlocking compatibility with a wide range of DeFi protocols such as decentralized exchanges (DEXs), yield farming platforms, and lending markets.
Currently trading at $500.00**, WBNB has shown stable performance over the past 24 hours with no price change. The 24-hour trading range remains flat at a low and high of $500.00, indicating minimal volatility during this period. Despite the lack of short-term movement, WBNB continues to maintain a robust market presence with a circulating supply of approximately 1.33 million tokens and a full market capitalization exceeding $910 million**.
Understanding Wrapped BNB (WBNB)
WBNB, or Wrapped BNB, functions as a tokenized version of native BNB, allowing it to be used in environments where the original BNB chain (BEP-2) isn’t directly supported. By wrapping BNB into the BEP-20 format, users gain the ability to interact with decentralized applications (dApps) that require ERC-20/BEP-20 compliant tokens.
This interoperability is essential for liquidity provision, staking, and participation in automated market makers (AMMs) like PancakeSwap. Each WBNB token is fully backed by one BNB held in reserve, ensuring a 1:1 value peg and minimizing risk of devaluation.
👉 Discover how wrapped tokens power cross-chain DeFi innovation.
Core Features of WBNB
- 1:1 Backing: Every WBNB token is backed by an equivalent amount of BNB.
- BEP-20 Compliance: Enables integration with BSC-based dApps and smart contracts.
- Decentralized Accessibility: Can be traded, swapped, or staked without centralized intermediaries.
- Low Transaction Fees: Benefits from BSC’s efficient consensus mechanism and low gas costs.
Market Overview & Performance Metrics
As of the latest update on April 7, 2025, WBNB maintains strong fundamentals:
- Current Price: $500.00
- 24-Hour Change: 0.00%
- Circulating Supply: 1,339,001 WBNB
- Total Market Cap: $910,742,876.30
- 24-Hour Trading Volume (USD Spot): $1,251.11
While the 24-hour trading volume appears modest at just over $1K in some snapshots, this may reflect data aggregation limitations rather than actual market activity—many WBNB transactions occur through decentralized exchanges where real-time volume reporting can lag.
The token has maintained consistent supply metrics since its launch on September 3, 2020, with no locked or reserved allocations. Of the total issued supply, 70 BNB have been permanently burnt, reinforcing scarcity and long-term value preservation.
Why Use WBNB Instead of Native BNB?
Although both assets share equal value, their use cases differ significantly:
| Feature | Native BNB (BEP-2) | Wrapped BNB (WBNB) |
|---|---|---|
| Token Standard | BEP-2 | BEP-20 |
| Smart Contract Support | Limited | Full |
| DeFi Integration | Low | High |
| Use in DEXs | Not directly usable | Primary trading pair on PancakeSwap |
For example, when providing liquidity on PancakeSwap, users must deposit WBNB instead of native BNB because liquidity pools require BEP-20 tokens. Similarly, most yield farms and lending protocols accept only BEP-20 assets.
👉 Explore how DeFi platforms leverage wrapped tokens for enhanced liquidity.
Tokenomics and Supply Distribution
WBNB follows a transparent and predictable issuance model:
- Issued Supply: 1,339,001 (100%)
- Circulating Supply: 1,339,001
- Locked Supply: 0
- Burnt Amount: 70 BNB
This clean distribution ensures all tokens are freely tradable while maintaining full backing by underlying BNB reserves. The absence of vesting schedules or team allocations reduces counterparty risk and enhances trust among users.
Additionally, custodial transparency is reinforced through blockchain verifiability—any user can audit the smart contract address (0xbb4CdB9CBd36B01bD1cBaEBF2De08d9173bc095c) on BscScan to confirm reserve holdings.
Technical Specifications
| Attribute | Value |
|---|---|
| Launch Date | September 3, 2020 |
| Token Type | Wrapped Token |
| Parent Asset | BNB |
| Decimals | 18 |
| Token Standard | BEP-20 |
| Chain | Binance Smart Chain (BSC) |
| Sector | Wrapped Collateral |
The 18-decimal precision aligns with Ethereum’s ERC-20 standard, ensuring consistency across cross-chain development tools and wallet interfaces.
Bridging and Cross-Chain Functionality
Currently, WBNB operates exclusively on the Binance Smart Chain via the official bridge managed by Binance. The bridging process allows users to:
- Deposit native BNB (BEP-2)
- Receive an equivalent amount of WBNB (BEP-20)
- Utilize WBNB in DeFi protocols
- Redeem back to native BNB when needed
This two-way conversion ensures flexibility without sacrificing security or decentralization.
Frequently Asked Questions (FAQ)
Q: Is WBNB safe to use in DeFi applications?
A: Yes. WBNB is fully backed by BNB reserves and operates under audited smart contracts on the Binance Smart Chain. Its widespread adoption across major platforms like PancakeSwap confirms its reliability.
Q: Can WBNB lose its peg to BNB?
A: In theory, yes—if the backing mechanism fails—but in practice, this risk is extremely low due to Binance’s custodial oversight and real-time reserve audits available on-chain.
Q: How do I convert BNB to WBNB?
A: You can wrap BNB using the official Binance Smart Chain bridge or directly through compatible wallets like MetaMask when connected to DEXs such as PancakeSwap.
Q: Does WBNB pay dividends or rewards?
A: No. WBNB itself does not generate yield, but it can be staked or provided as liquidity in DeFi protocols that offer reward incentives in other tokens.
Q: Where can I track WBNB price changes in real time?
A: Real-time data is available on major crypto tracking platforms like CoinGecko, CoinMarketCap, and directly through DEX analytics dashboards.
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Final Thoughts
Wrapped BNB (WBNB) plays a critical role in expanding the functionality of Binance Coin beyond its native chain. As DeFi adoption grows on Binance Smart Chain, demand for BEP-20-compatible assets like WBNB will continue to rise. Its stable valuation, transparent supply model, and deep integration with leading dApps make it a foundational building block for developers and investors alike.
Whether you're swapping tokens, providing liquidity, or exploring new yield opportunities, WBNB offers a secure and efficient gateway into the world of decentralized finance.
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