BNB is a cryptocurrency that can be used for trading and paying fees on the Binance cryptocurrency exchange. BNB is a cryptocurrency that supports the BNB Chain ecosystem. BNB is one of the most popular utility tokens in the world. You can not only trade BNB like any other cryptocurrency but also use BNB for a wide range of additional benefits.
BNB was launched through an Initial Coin Offering (ICO) that took place from June 26 to July 3, 2017 – 11 days before the Binance exchange opened for trading. The launch price was 1 ETH for 2700 BNB or 1 BTC for 20,000 BNB. Although BNB was launched through an ICO, BNB does not give users rights to Binance profits and does not represent an investment in Binance.
BNB has many use cases both within the BNB Chain ecosystem and beyond. Initially, the BNB coin was launched as an ERC-20 token on the Ethereum blockchain and was later migrated to the BNB Chain mainnet. Despite the initial total supply being 200 million coins, it gradually decreases due to frequent burning. The price of BNB can be tracked on Binance. It updates in real-time.