What Wrapped BNB represents
Wrapped BNB (WBNB) is a wrapped asset, currently ranked 62nd 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 $546.32, Wrapped BNB carries a market capitalization of $710.99M. Around $10.28M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 1.45% of the float — on the quieter side, which can mean thinner liquidity for large orders.
Wrapped BNB carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. The token is roughly -60% under its record of $1,370 — a meaningful but not catastrophic drawdown.
What the price history shows
Across timeframes, WBNB shows 24-hour -2.24%, 7-day -4.92%.
Volatility profile
Recent action puts Wrapped BNB in the Moderate-volatility band — it shows the kind of price movement common in mid-cap crypto assets — meaningful but not unusual.
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.
