#BTC $BNB $ETH
BNB, or Binance Coin, is the native cryptocurrency of the Binance exchange. Launched in 2017, BNB initially served as a utility token to reduce trading fees on the platform. However, its role has expanded significantly. BNB now functions as a payment method for various services within the Binance ecosystem, including transactions on the Binance Smart Chain, a blockchain platform developed by Binance. Additionally, BNB is used for staking, lending, and participating in decentralized finance (DeFi) protocols. The regular "burn" mechanism, where a portion of BNB is removed from circulation, contributes to its value appreciation. BNB's versatility and integration within the Binance ecosystem have contributed to its growth and popularity in the cryptocurrency market.
