What Wrapped BNB represents

Wrapped BNB (WBNB) is a wrapped asset, currently ranked 75th by market capitalization among the assets we track. Wrapped BNB is a wrapped asset: it mirrors the price of an underlying coin from another chain so that asset can be used in smart contracts where it can't natively go. A unit of WBNB should always be redeemable for a unit of what it wraps.

Wrapped BNB (WBNB) is a token that represents Binance Coin (BNB) on the Ethereum blockchain, allowing BNB to be used in decentralized applications and smart contracts. It maintains a 1:1 peg with BNB, enabling seamless cross-chain transactions.

How the peg to the underlying holds

Minting and burning keep Wrapped BNB aligned with what it wraps. The mechanism is simple; the trust assumption — that the custodian actually holds the reserves — is the part to scrutinize.

Background & fundamentals

In sector terms it is most often filed under Binance Coin (BNB) Token (BEP-20).

Where Wrapped BNB sits in the market

With WBNB near $750.53, Wrapped BNB carries a market capitalization of $1.19B. Around $106.79M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 8.99% of the float — elevated, often a sign of narrative-driven trading.

Wrapped BNB carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. The token is roughly -45% under its record of $1,370 — a meaningful but not catastrophic drawdown.

What the price history shows

Across timeframes, WBNB shows 24-hour +1.02%, 7-day -4.71%.

Volatility profile

Recent action puts Wrapped BNB in the Low-volatility band — it has been relatively stable, with moves typical of large-cap, mature assets.

How to evaluate a wrapped asset like Wrapped BNB

For an asset of this type, three lenses matter most:

  • Custody model — who holds the underlying behind WBNB and whether reserves are provably 1:1.
  • Redeemability — how reliably WBNB can be converted back to the asset it represents.
  • Underlying exposure — remember that holding WBNB is really holding the underlying — analyze that asset directly.

This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.