$BNB

BNB (Binance Coin): The Fuel of the Binance Ecosystem

BNB, or Binance Coin, is the native cryptocurrency of the BNB Chain, encompassing both the BNB Beacon Chain and the BNB Smart Chain. Launched by the Binance exchange in 2017, BNB initially served as a utility token for discounted trading fees.

Over time, its utility has significantly expanded. Today, BNB is crucial for paying transaction fees on the BNB Chain, participating in staking and governance, and accessing various decentralized applications (dApps) and DeFi protocols within the thriving Binance ecosystem. Its regular "burning" mechanism also aims to reduce supply, adding to its deflationary appeal.