What is $BNB Coin?

BNB, or Binance Coin, is the native cryptocurrency of the BNB Chain ecosystem, which includes BNB Smart Chain (BSC), opBNB L2s, and BNB Greenfield. It serves as a utility token within the Binance ecosystem, offering various functionalities. Originally launched in 2017 as an ERC-20 token on the Ethereum blockchain, it later transitioned to its own blockchain, the BNB Chain. BNB is used to pay transaction fees on the Binance Exchange and BNB Chain, offering discounts to users . It also facilitates participation in token sales, staking, and governance within the BNB Chain ecosystem . Binance regularly burns BNB tokens to reduce the total supply, which can potentially increase its value [1] [7]. BNB has a market capitalization of over $104 billion.