BNB (BNB)
Binance exchange utility token with quarterly burns. Highly tied to Binance CEX health and regulatory outcome.
Ranked 27th of 251 rated tokens. Scoring pass 11 Jun 2026.
What the numbers say
BNB scores 144 of 250 across the 25-variable framework, which places it 27th of 251 rated tokens and inside the top quartile of the set. The framework verdict is HOLD.
BNB is a top-10 name in the set on 4 variables. The score rests on Buyback and Burn 9/10, 2nd of 251, Exchange Depth 8/10, 5th of 251, BTC Alpha Potential 6/10, 6th of 251 and Active Users 7/10, 8th of 251.
Against the same universe, BNB sits in the bottom third on Regulatory Safety 2/10, 247th of 251 and Holder Concentration 3/10, 197th of 251. These are the variables that would have to move for the verdict to change.
Only 66.6% of BNB's maximum supply is in circulation, so 1.5x the current float is still scheduled to arrive. Holding price per token flat while the rest enters circulation implies 33.4% of the fully diluted value sitting ahead of today's holders. That is a real but manageable overhang.
BNB is 56.7% off its all-time high of $1,370, a 2.3x round trip from here.
$5.20B sits in the protocol. Each dollar of value locked carries 15.18 dollars of token market cap.
25-variable breakdown
Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.
Cash flow
| Protocol Revenue | 7 | 10th of 251 | |
| Revenue Trend | 5 | 32nd of 251 | |
| P/S Multiple | 5 | 38th of 251 | |
| Real Staking Yield | 5 | 37th of 251 |
Supply
| Supply Inflation | 7 | 26th of 251 | |
| Vesting Schedule | 7 | 35th of 251 | |
| Circulating / FDV Ratio | 7 | 46th of 251 | |
| Buyback and Burn | 9 | 2nd of 251 |
Ownership
| Smart Money Flows | 5 | 48th of 251 | |
| Insider Selling | 4 | 151st of 251 | |
| Holder Concentration | 3 | 197th of 251 |
Traction
| TVL Trend | 5 | 30th of 251 | |
| Active Users | 7 | 8th of 251 | |
| Developer Activity | 5 | 83rd of 251 | |
| Network Growth | 6 | 32nd of 251 |
Position
| Market Share | 6 | 36th of 251 | |
| Competitive Moat | 6 | 29th of 251 | |
| Institutional Adoption | 5 | 36th of 251 | |
| Exchange Depth | 8 | 5th of 251 | |
| Social Mindshare | 7 | 11th of 251 |
Risk
| Regulatory Safety | 2 | 247th of 251 | |
| Catalyst Calendar | 5 | 50th of 251 | |
| BTC Alpha Potential | 6 | 6th of 251 | |
| Team Execution | 5 | 74th of 251 | |
| Treasury Runway | 7 | 11th of 251 |
The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.
Catalyst and risk
Next catalyst
Binance regulatory settlements complete; BNB Chain network expansion into Southeast Asia
Principal risk
Binance regulatory tail risk remains; CZ plea deal overhang; centralized chain perception
Market and supply
| Price | $592.73 |
| Market cap | $78.92Brank 4 |
| All-time high | $1,37013 Oct 2025 |
| Circulating supply | 133,164,659 |
| Eventual supply (max supply) | 200,000,000 |
| Dilution to full supply | 1.5x |
| Total value locked | $5.20B |
| Listed on | Binance, OKX, Bybit, KuCoin |
Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.
Tokens with a similar profile
These are the closest matches to BNB measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.
Sources
- [Binance Blog] Binance burned over 2.3M BNB in Q1 2026 quarterly burn
- [DOJ] CZ received 4-month prison sentence for BSA violations in 2024
- [DeFiLlama] BNB Chain TVL stabilized around $5B in early 2026
Common questions
- What is the Early Thunder score for BNB (BNB)?
- BNB scores 144 out of 250 on the 25-variable framework, ranking 27th of 251 rated tokens (top quartile). The framework verdict is HOLD.
- What are BNB's strongest fundamentals?
- BNB ranks highest on Buyback and Burn 9/10, 2nd of 251, Exchange Depth 8/10, 5th of 251, BTC Alpha Potential 6/10, 6th of 251 and Active Users 7/10, 8th of 251. Ranks are measured against all 251 tokens in the same scoring pass.
- What are the weakest parts of the BNB thesis?
- BNB scores in the bottom third of the universe on Regulatory Safety 2/10, 247th of 251 and Holder Concentration 3/10, 197th of 251. The single risk carried on the scorecard is: Binance regulatory tail risk remains; CZ plea deal overhang; centralized chain perception
- How much BNB supply is still to enter circulation?
- 66.6% of eventual BNB supply is circulating today, leaving 1.5x the current float still to arrive. At a flat price per token that is 33.4% of fully diluted value ahead of current holders.
- How far is BNB from its all-time high?
- BNB trades 56.7% below its all-time high of $1,370. Returning to that high requires a 2.3x move from the level used in this scoring pass.
- Which tokens have a similar profile to BNB?
- Measured on the shape of all 25 scored variables rather than on price, the closest matches to BNB are OKB (145), GT (123), BGB (135) and KCS (119). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
- What is the next catalyst for BNB?
- Binance regulatory settlements complete; BNB Chain network expansion into Southeast Asia
Keep reading
Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.