$BNB BNB is the native token of Binance and it plays a crucial role in the Binance ecosystem originally launched as an ERC20 token on the Ethereum blockchain BNB later migrated to the Binance Chain and now operates on the BNB Smart Chain which supports smart contracts and decentralized applications BNB is used to pay trading fees on Binance offering users discounts when they choose to pay with it it also powers a wide range of utilities within Binance such as token sales on Binance Launchpad and transaction fees on Binance DEX and Binance Smart Chain BNB has also become popular in the DeFi and NFT spaces with users employing it for yield farming staking and buying digital assets beyond Binance BNB is accepted by a growing number of merchants and service providers contributing to its utility as a form of payment the token has a limited supply and Binance conducts regular coin burns which permanently remove a portion of BNB from circulation helping to reduce supply and potentially increase value over time BNBs strong use case ecosystem integration and deflationary model have positioned it as one of the leading cryptocurrencies by market capitalization and influence in the broader blockchain world with many seeing it as a cornerstone of crypto utility and adoption
