$BNB Binance Coin is the native cryptocurrency of the Binance ecosystem.
It was launched in July 2017 as an ERC-20 token on the Ethereum blockchain but later migrated to Binance’s own blockchain, BNB Chain (which includes the BNB Beacon Chain and Binance Smart Chain).
Key points about $BNB :
Initial Purpose: To give Binance users discounts on trading fees when paid with BNB.
Current Uses:
Paying transaction fees on BNB Chain
Paying trading fees on Binance exchange
Participating in token sales on Binance Launchpad
Payment in partner services (e.g., hotels, shopping, gift cards)
Staking and DeFi applications on BNB Smart Chain
Supply & Burning: Binance periodically burns (destroys) BNB to reduce supply, targeting a total supply of 100 million coins.
All-Time High (ATH) Price: Around $686 in May 2021, with a market cap of roughly $112 billion at the time.
