BNB, or Binance Coin, is a cryptocurrency created by Binance, one of the largest cryptocurrency exchanges globally. Launched in 2017, BNB has evolved into a multi-purpose utility token powering various applications within the Binance ecosystem ¹.
*Key Features:*
- *Native Token*: BNB is the native token of the BNB Chain, a decentralized, interoperable blockchain network developed by Binance.
- *Multi-Purpose*: BNB serves various roles, including transaction fees, staking, governance, and access to exclusive token sales.
- *Trading Fee Discounts*: Users enjoy discounts on trading fees when paying with BNB on Binance's exchange.
*Current Market Performance:*
- *Price*: $647.43, with a 0.90% increase in the last 24 hours.
- *Market Capitalization*: $94.49 billion, ranking #5 globally.
- *Circulating Supply*: 146 million BNB tokens.
- *24-hour Trading Volume*: $438.74 million ².
*Use Cases:*
- *Transaction Fees*: BNB pays for network transaction fees on the BNB Chain.
- *Token Sales*:$BNB holders participate in exclusive token sales on Binance.
- *Staking and Governance*: $BNB supports staking for network security and governance within the Binance ecosystem.
*Where to Buy:*
- *Binance*: The most popular exchange to buy and trade BNB, with a trading volume of $94.83 million in the last 24 hours.