$BNB

BNB (Binance Coin) Overview

Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, launched in 2017 initially as an ERC-20 token on Ethereum before migrating to Binance’s own blockchain, the BNB Chain (formerly Binance Smart Chain). BNB plays a central role in powering Binance’s diverse services, including trading fee discounts, transaction fees on BNB Chain, and participation in token sales on Binance Launchpad.

BNB was created to provide utility within the Binance ecosystem. Users can pay trading fees on Binance Exchange with BNB at a discount, making it a popular choice among traders. The BNB Chain supports decentralized applications (dApps), smart contracts, and DeFi projects, positioning BNB as a key asset in the expanding blockchain ecosystem.

One unique feature of BNB is Binance’s quarterly “coin burn” mechanism, where Binance buys back and permanently removes a portion of BNB tokens from circulation. This deflationary model aims to reduce supply and potentially increase value over time.

BNB’s growth reflects Binance’s rise as the world’s largest cryptocurrency exchange by trading volume. With broad utility, strong community support, and continuous development, BNB remains one of the top cryptocurrencies by market capitalization.