$BNB

BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem, originally launched in 2017 as an ERC-20 token on the Ethereum blockchain. It has since migrated to Binance's own blockchain, BNB Chain (formerly Binance Smart Chain and Binance Chain). BNB serves multiple purposes: it's used to pay trading fees on Binance at discounted rates, fuel decentralized applications (dApps), pay transaction fees on BNB Chain, and participate in token sales on Binance Launchpad. It also has deflationary mechanics through regular token burns, reducing its total supply over time. BNB is widely accepted across the crypto space, not just within Binance, and plays a crucial role in the broader DeFi and Web3 ecosystems. As one of the largest cryptocurrencies by market cap, BNB is considered a core asset by many investors. Its value is closely tied to the success and innovation of the Binance platform and its expanding range of products and services.