$BNB
BNB, short for Binance Coin, is the native cryptocurrency of the Binance ecosystem, one of the largest cryptocurrency exchanges in the world. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB was later migrated to Binance’s own blockchain, Binance Chain.
Key Features:
Utility Token: BNB is widely used to pay for trading fees on Binance at a discounted rate.
Ecosystem Usage: It is accepted for payments, travel bookings, entertainment, and more within Binance’s wide ecosystem.
Burn Mechanism: Binance conducts periodic “burns” (permanent removals) of BNB to reduce its total supply, aiming to increase scarcity and value.
DeFi & NFTs: BNB powers the Binance Smart Chain (BSC), a blockchain used for decentralized finance (DeFi) apps and NFT platforms.
BNB is considered one of the top cryptocurrencies in terms of market capitalization and plays a vital role in the growing Web3 and crypto financial infrastructure.
