$BNB BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, which includes the BNB Chain (BNB Beacon Chain and BNB Smart Chain). Launched in 2017, BNB has evolved from a simple utility token for trading fee discounts on the Binance exchange to a versatile asset with numerous uses.

Key aspects of BNB include:

* Utility: It's used for discounted trading fees on Binance, transaction fees on the BNB Chain, participation in new token sales on Binance Launchpad, and a wide array of Decentralized Finance (DeFi) activities like liquidity provision, lending collateral, and staking for governance and passive income on BNB Smart Chain. It's also accepted for various payments, including travel and online services.

* Deflationary Mechanism: Binance employs a robust token burn mechanism to reduce BNB's total supply from an initial 200 million to an eventual 100 million. This includes both quarterly burns (where Binance uses a portion of its profits to buy back and destroy BNB) and real-time burns (BEP-95), which incinerate a portion of transaction gas fees on the BNB Smart Chain. These burns aim to increase the scarcity and, theoretically, the value of BNB over time.

* Market Position: BNB consistently ranks among the top cryptocurrencies by market capitalization, reflecting its significance and widespread adoption within the crypto space. Its value and ecosystem are subject to ongoing developments and market trends.