#$BNB KEY TAKEAWAYS

Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.

Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy (or "burn") BNB held in its treasury.

Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.

At the time of writing, Binance Coin (BNB) had a market cap of more than $87 billion, ranking behind only Bitcoin, Ethereum, and USD Tether.